Project Estimating BasicsWhy are you in business? Let's be honest and say - to make money. Well then, how do you make money? You procure enough work to keep your best crews busy. I'll stop beating around the bush here - you get more work and make more money by estimating jobs. Even the best builder in town will not make money if their estimates are poorly done. This series of articles will attempt to give you some basic principles and formulas for estimating your jobs fairly and efficiently. What do you need to provide your clients with the best possible price and still make a profit for your company? You need estimating skills. These skills include:
1. Knowledge of construction
2. Knowing your crews production rates and how to figure them
3. A system and method of compiling costs
I will assume you have a well rounded knowledge of construction and will focus on figuring production rates and most importantly - a system of compiling costs.