Can we help you? Construction Cost Management can save you money, reduce your risk, and give you more control over your costs.
INFORMATION ABOUT DIFFERENT TYPES OF ESTIMATES AND THE ART OF ESTIMATING
Building Owners need an estimate when a construction project is in the planning stage, before any commitment is made. Budgetary estimating is an essential tool. Architects use estimating during design to stay on budget and to make value-based decisions. Cost models, budgetary, schematic, and design development estimates all have a useful role.The most crucial estimates for all contractors are the detailed ones based on plans and specifications, a prediction of the cost of labor and materials. They also show overheads and profit margin.Cost Management is a way of using estimates and other tools to their full to predict and control construction costs, reducing risks and providing an intelligent way to analyze value.
Below we explain some of the different types of estimates
Contractors’ estimates which lead to the “contract sum”, the agreed cost of construction, are made up from detailed subcontractor estimates and some informed assumptions.Trained and registered as an architect, the principal of this company has an all around knowledge of the techniques of construction – and has completed over 1,000 estimates.