As one of their primary duties, skilled civil engineers have to conduct a thorough review of the project plan in order to come up with an accurate cost estimate. Through this, they can present a feasible cost range to their clients, whether private or public. This then allows the clients to have an idea of how much they would have to spend before, during, and after the completion of the project.
Knowing more about the types of construction cost estimation software will help clients make any necessary changes or updates even before the project begins.
Estimates for the Design.
The owner or the appointed design experts need to know the project’s design estimates since it plays a part in the overall planning and costing. Four subcategories fall under design estimates, including screening estimates; preliminary estimates, referred to also as conceptual estimates; detailed estimates, also called definitive estimates; and engineer’s estimates that depends on the specifications and the project plan itself.
In most cases, each of these four types of design estimates produces more information about the design, helping both owners (or the tasked design experts) and civil engineers revise parts of the project early on.
Estimates for the Bid.
Contractors use bid estimates that they then present to the owner. The owner then uses this information for negotiation or competitive bidding. For negotiation purposes, it comprises of immediate construction cost that already includes field or project supervision, as well as a markup allotted for covering profits or general overhead expenditures.
Estimates for the Control of Costs.
Because all construction projects have a budget, civil engineers have to ensure they also come up with an estimate for cost control. This helps them monitor project while under construction. Control of cost estimates include the estimates for budget and financing, budgeted cost of hiring a contractor but before the project even begins, and additional costs to complete the project while still under construction.
Civil engineers do not just produce these estimates; they have a lot more on their plates. However, owners need not worry about severe delays when it comes to the completion of the project since skilled professionals now make use of cost estimation software that allows them to deliver accurate estimates much faster.