Why does an accurate & detailed estimate matter? How can it affect the construction process?
Check out what our Estimating Manager, Christine, shares:

Having an accurate construction estimate is important for many reasons. It sets construction projects up for success, can lead to stronger relationships with clients, and is good for business. Having an orderly estimating process that you can repeat for all estimates is key. Some of the most important steps that will get you the most accurate estimates are to break down the project details, quantify the details, & keep up with market trends and world events.

Break Down the Project Details
When you first get the project plans and specifications, it can be overwhelming to fully grasp the full scope of work involved. Breaking down the project into smaller pieces can make the process more manageable and helps ensure the full scope of work is captured. Using a standardized construction code system can help streamline this process. The most common code systems come from the Construction Specifications Institute (CSI) and the North American Industry Classification System (NAICS). Once you have your scope of work fully captured you can pull together costs more efficiently.

Quantify the Details
Once the scope of work is fully captured into smaller details, you can quantify those details. While calculating the scope of work quantities can be tedious, it helps ensure the pricing you receive is accurate and in-line with industry standards. Having an understanding of current market conditions and having an idea of unit cost ranges is essential.

Keep Up With Market Trends and World Events
There are some potential uncertainties involved in a project that comes with costs that should be accounted for when possible. Keeping up with market knowledge on manufacturer price increases and on world events that affect costs are important so that you can account for it within the estimate. A lot of products get an annual price increase. World events can cause price increases in between the annual price increases and can affect lead-times and availability that will affect the project.

Breaking down the project details, quantifying the details, and keeping up with market trends and world events are just a few key factors to create an accurate construction estimate. At Quarry View Building Group we use these strategies and a number of other internal checks and balances. This process ensures that we have an accurate estimate that will avoid change orders and lead to a smooth build process.