Winning the initial bid is the pathway to survival for construction contractors, and multiple companies are fighting to be affordable while still making a profit. Providing a construction estimate is more than handing over a few figures, and it is an opportunity to show how you can provide value for money with your company’s individual strengths. Contracting is truly an art form to be admired, but it can be very stressful too.
The first step to creating a construction estimate involves making a realistic assessment of every detail the job entails. When you receive an estimate request from a potential client they won’t usually have any knowledge of how the building industry works and are only focused on the end results and bottom line. Many professionals working in the industry are experts for their field, such as architects and engineers, but it is only the construction managers who see the whole picture from the ground up. When you are handed blue prints with a proposal request, always ask for further information where required and make sure you can clearly see what they are after and their reasons for it.
When devising schedules for construction projects the only effective way is working front finish to start. This way you are working back from the deadline to ensure everything is done and delivered within generous timeframes. Scrutinize all materials required and consider possible substitutions where discretion is allowed. Any communication with engineers and sub-contractors should always be in writing.
When you have worked out how much it will cost to build the construction you will need to include down time incase problems arise. A construction project running perfectly to plan is completely unheard of, so also include extra on the budget for price increases and unforeseen sub-contractor fees.
Don’t be afraid to quote what you are worth: If you are a hard-working contractor who produces quality constructions you should be paid accordingly. After devising the overall costs for the building, add enough profit to guarantee you can live stress free and
comfortably. You should feel rewarded for your time and you should definitely have funds to save for future business improvements and upgrades.
When all of the above is ready and presented flawlessly, double and triple check everything for errors. When the presentation moment arrives you can explain the whole process step by step in laymen’s terms. Keep it in mind to speak clearly, get to the point quickly and point out areas you truly believe your company excels in. Making them feel like they will benefit when hiring your company is just as important as coming up with a fair estimate, so put time and effort into the whole process not just the number crunching.