Cost Estimation: Understanding Advanced Cost Estimation Processes

With the many books, manuals and detailed infographics on construction cost estimating, these rules of thumb and opinions should have led to more satisfied clients, which is not the case. Why?

There is hardly a universal guide for estimating construction project costs for one of the following three reasons: optimal estimating measures depend on accurate takeoff tools, every cost estimation procedure is unique to each construction project and the efficiency of cost estimating, in general, varies with experience and judgment.

The good news

Fortunately, today’s computer-based cost estimation combines the three factors above to allow you to vary your unique project selections based on the components of construction, the quantity of materials and the size of your construction projects, alongside other design decisions, by logically linking the variable arguments in a single program. This improved software architecture has seen the realization of instant and accurate recalculation of construction quantities and costs besides giving you the option to generate a pdf plan of the takeoff software.

Advanced features of this computer-based cost estimation process also offer the ability to model and determine the impact of different construction quality options so you can easily determine the design parameters that would fit a predetermined budget.

Traditional cost estimating

Unlike other cost estimating technologies that derive their effectiveness from manual CAD quantity take off methods and pre-developed design documentation of limited similar projects to the property in subject, advanced cost estimating technology instantly models construction costs of a specific project with respect to definite design criteria at each stage of the project. Additionally, this latter technology integrates cost databases, accurate calculations for estimates and offline options to print a pdf plan of takeoff software.

Having a construction cost estimating software that accelerates the functionality of an estimator’s work in terms of money, accuracy and speed is pivotal to the success of every construction business, more so if the cost estimating program can interface with other applications and still offer online collaboration. But a more useful advice is you get construction cost estimating software that meets the relevant codes of ethical cost estimation, and that is specific to your construction demands.