Finding it difficult to make estimates on your construction projects? Are you actually juggling money between projects? Are you making up for the previous job from your present job payments? You may be finding it difficult to make correct estimates because you are guesstimating rather than making the right estimate.
Construction Guesstimating Vs Construction Estimating
You must work out the right estimates for your construction projects rather than trying to just look at the work and guessing the estimate in terms of cost and time required. Guesstimating may actually land you in trouble because just by looking at the work involved you may be able to guess only a rough estimate and may even overlook some areas. You must actually sit down and work out the construction estimates so that all factors are taken into account and you thus, end up making a profit rather than getting into unwanted trouble. If you want to turn each of your construction projects into a success then making the right construction estimate is very important. Proper estimation of the work and cost is important for proper financial planning and success. For instance you have a wall to be framed and dry walled. Just looking at it and making a guesstimate is not the right way to do it. You may end up making the wrong estimate and then a loss.
A construction estimate must be made in the right manner after considering the time involved, the material required and what would be other costs such as labor, equipment and the like. By guesstimating you may actually be making an over-estimate that could end up with the contract being bagged by someone else or else you could be underestimating the total cost and then, would end up making a loss.
Your construction estimates must be systematically prepared and should be based on scientific methods and techniques. This way you would be able to ascertain qualitative results. A correct estimate would help you make a good profit and you would also be able to complete the work as per the estimated schedule of events. Understanding the requirements and proper planning is very important for drawing the right estimates. The right construction estimate would be helpful for you as a contractor to understand the work that would be required and also would benefit the customer. The customer would also have a clear idea of the work in terms of the cost involved and the time required for completion.