Construction Cost Estimating – Common Errors That Can Occur
If you are a contractor, part of your job happens to be construction cost estimating. However, you can really be losing out if you are making errors when you give out estimates. Whether you estimate high or low, it can be a problem. A low bid can make you lose money, while a high bid won’t be able to compete with other competition out there. So, where are your estimates going wrong? Here are some of the common errors that can occur when it comes to construction cost estimating.
Problems with Your Adding and Subtracting
Probably one of the most common construction cost estimating errors that occurs is a problem with the arithmetic. You may add, subtract, or multiply wrong, coming up with the wrong numbers. This can be a real problem if you are trying to do all the math yourself. Use the modern equipment available and double check to make sure you get the math right for your estimates.
The Wrong Measurements
The wrong measurements can also be a problem that causes errors when you are making a construction cost estimate. Whether you get the wrong measurements from plans or you use the wrong unit of measurement, this can definitely cause a big difference in the estimates. Make sure you get the right measurements and get the right unit of measurement being used as well.
Problems with Labor Cost Estimates
Problems with labor cost estimates can cause errors when it comes to construction cost estimating as well. All you have to do is calculate in too much or too money for the labor costs. Make sure that you know the real cost of labor at the current time that you are coming up with the estimate. This way you don’t make this common error yourself.
Never Visiting the Site
Never actually visiting the construction site can also be a huge error that can lead to problems with the construction cost estimating. Taking time to visit the site is going to be important when you are estimating the cost of the project. You’ll have to determine whether current structures must be removed, whether you’ll have to protect bordering properties, and more. If you don’t visit the site yourself, you can’t get the big picture in order to come up with an accurate measurement.
Using Software to Avoid Errors
One of the best ways that you can avoid errors in construction cost estimating is to make sure that you use good software. The right estimating software can change the way you do business. Not only will it make your job easier, but it will help you make sure that you come up with an accurate estimate every time.