A construction cost estimator devises the cost analysis for construction projects. This may be a team or individual dedicated to factoring in labour, material and other costs into a construction project.
In the past, they would have gone over drawings and plans from investors, architects, builders and suppliers etc. Time-consuming work that at times could be prone to error.
Over the years estimating software and sophisticated tools have been developed to speed up the estimating process.
This software allows for more accurate estimates and provides a secure location for information storage and communication.
Cost estimators undertake a variety of roles and may hold several positions within a company.
They may be a construction company earthworks specialist or a quantity surveyor. Once they are undertaking a construction cost estimate they are providing a valuable service to all involved in the construction projects.
The Role of a Construction Cost Estimator?
Cost estimators are vital for bidding, project organisation, communication and maintaining costs.
Either through traditional methods or through the use of software, cost estimators will develop cost proposals for clients and provide insights into the hiring process, spending and use of certain suppliers.
Cost estimators may develop naturally within the construction industry as it is not a formal role. They are vital for cost analysis and project progression, the variety of roles of a cost estimator include:
- Calculating how much a project will cost
- Researching prices and collecting quotes
- Checking investor and client requirements
- Drawing up bids for work
- Monitoring project progression
- Creating detailed price lists or using previous projects for price reference
- Checking the feasibility of projects and ROI
As you can see both hands-on and informal training benefit the role of a cost estimator.
With the use of smart software, it is now easier and faster to undertake many of these responsibilities.
The Benefits of a Construction Estimator:
Building cost estimators provide several advantages to construction projects and companies.
Increase Bidding Power:
The speed and accuracy of a construction estimate ultimately determines that company’s power to bid on projects.
If you have a talented team of estimators and use powerful tools such as Cubit Pro and MudShark, you can develop accurate estimates at a much quicker rate than the competition.
Being able to quickly organise labour and material costs, use take-offs for accuracy and provide this information to investors and stakeholders, you will greatly increase your company’s chance of successfully bidding.
Builders need construction estimators who know material costs, labour availability and the margin of profit and loss on construction projects.
They Help Improve Communication:
Cost estimators use a variety of methods and information to create their estimates.
Designers, architects, trades and investors supply drawings and ideas.
Cost estimators must communicate effectively between parties to ensure all information is understood and worked on progressively.
As a focal point for communication, this greatly improves across all sectors and ensures every party is doing their bit.
By using powerful and easy to use software, important changes and ideas can be viewed and acted on in real-time.
For example, BIM and 3D modelling capabilities allow for successful construction take-offs.
Material requirements can be arranged quickly, and information shared among those who require it.
Your cost estimator should be a great communicator, but also use software and tools to facilitate this communication.
They Establish Cost Breakdowns:
Bills of Quantity and cost take-offs can be long and tedious processes.
New software has greatly reduced the time spent on such operations, but you need a professional cost estimator who can use the technology properly.
Cost estimators use their experience and software to complement one another.
By establishing cost breakdowns, they help projects progress and provide information which can be used by suppliers, subcontractors and others.
Combining Many Tasks:
Cost estimators wear many hats.
From data analysis to communication, planning and storage, they are an important asset to all construction projects.
Having an individual or team who can take care of many aspects of the planning phase, along with powerful software, will improve the results and speed of your business and save you money.
Whether your cost estimator is in a dedicated role or part of a wider group it’s essential to have estimators on your side.
The Importance of an Estimator:
As you can see, cost estimators provide a variety of benefits to construction companies and projects.
They work in tandem with all the stakeholders, provide cost breakdowns and aim to align plans and expectations with reality.
Without a cost estimator, most if not all construction projects would face numerous problems.
From being short on materials or being overcharged on services, without estimates builders and investors face huge risks.
Helpful Software:
With fluctuating prices, changing demands and design ideas, it’s almost impossible for an estimator to keep track of everything.
Thankfully, a lot of useful software and tools have been designed to aid cost estimators.
Software such as Cubit Pro allows for modelling, provides deeper insights into material needs and can record all of this on an easy-to-use platform.
With extensive knowledge and experience and useful tools at your disposal, cost estimators are invaluable to both companies and projects.
Buildsoft and your cost estimates:
With extensive training and insights into its use and purpose, Buildsoft can provide you with all the knowledge you need to properly use our estimating software.
Improve your skills, estimates and accuracy with Cubit Pro or MudShark.
Get in touch with the team at Buildsoft today.
