Now, thanks to leading construction estimating software, teams can view project plans in 3D, so they can get an enhanced view of the project and gain a better understanding of design intent. Traditionally, estimators would get their hands on 2D project plans and start to identify quantities and measurements from there. You will need to review the project plans and documentation to effectively determine the scope of the project. The first step in construction estimating is to have a plan-literally. Here is a high-level overview of the steps involved in construction estimating-and how software can help. To understand the value in construction estimating software, let’s look at the estimating process and see where digital tools would come into play. What Steps are Involved in Construction Estimating? What is Construction Estimating Software?Ĭonstruction estimating software refers to a digital tool (or a suite of tools) that empowers estimating teams to accurately and efficiently estimate their project bid price.Įstimating software solutions typically includes features that streamline tasks like conducting quantity takeoffs and determining project scope.
A study by QuickBooks and TSheets found that one in four firms would go out of business after just two or three inaccurate estimates. In an industry with razor-thin margins, incorrect estimates can lead to a major hit in profitability and wreak havoc on your company’s finances. New opportunities and challenges highlight the importance of producing accurate estimates. Census Bureau indicates that construction spending reached $376.6 billion during the first three months of 2022, up 12% from the same period last year.
Nonetheless, project starts are on the rise.
Construction projects have gotten more complex over the years, and material and labor costs are increasing. The process of building isn’t what it used to be.
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