The Value of Professional Estimators in Construction Bidding

The bidding process is therefore one of the most important events in the construction industry. An accurate and competitive bid on a construction project involves thorough, detailed, and precise bid estimating of the full scope of work. Professional estimators are skilled, experienced, and well-equipped with technology to offer the best estimating services to constructing firms for bidding.

Estimators and Construction Bidding

Estimators are significant components of staff in construction companies engaged in bidding and tendering. Their primary duty is to assess the overall expenses and amount of materials and manpower needed to execute the tasks in compliance with the drawings and specifications. The estimator creates the quantity take-off and comes up with a price, which complements the final bid amount that is offered to the client.

Professional estimators are skilled in construction costs, layout, and techniques. They know what is expected of them to finish every aspect of a particular project. Their estimates can be said to be bottom covering all conceivable direct and indirect project costs. Bidding is critical to develop a competitive price that will generate a fair amount of profit irrespective of excess project costs.

Advantages of Hiring Outsourced Estimating Services

Some of the large construction firms have their estimating department, however most of the contractors hire estimating consultants and services. Third-party estimators offer a range of advantages over in-house teams, including:

• Electrical Takeoff Services: The professional electrical estimating services perform take-offs per National Electrical Contractors Association (NECA) standard takeoffs per the discipline. Electrical estimating can be highly critical to control and avoid any cost overruns or losses in the long run.
• Residential Construction Estimation Services: Residential specialist estimators can provide accurate estimations of materials, man, and time for the construction of housing plans from the proposed home plans. The estimator reproduces the details of each of the home designs.
• Commercial Estimation Services: It involves estimating professionals with knowledge of construction types such as high-rise buildings, offices, hospitals, retail outlets, etc The MEP systems that are integrated into these buildings also need superior evaluation during takeoffs.
• Neutral Third-Party Advice: External estimators are less likely to have a bias or self-serving interests that can skew their estimates for bidding. They provide objective and practical judgments of the necessary activities and expenses.
• Unmatched Experience Levels: Many of these consultancies are involved in estimating projects across a broad range of industries and Geographies. Their team has generally provided estimates for thousands of projects for many years.
• Latest Estimating Technology: Specialist estimators ensure that they have developed efficient takeoff and estimating software and other tools. These systems enhance efficiency and accuracy in the handling of work and the completion of tasks. All these advanced technologies are now available for contractors with minimal capital commitment.
• Flexibility On Demand: Outsourced estimating services are more flexible and can be used when needed for any submitting quick bids or for any taking on new types of jobs. Leveraging external partners offers a lot of flexibility in terms of the skill sets and capacities of the estimators involved.
• Reduced Workload: The involvement of external estimators in quantity surveying and pricing relieves contractors’ internal workforce, enabling them to concentrate on contract performance.

The Real Cost of Poor Estimating in Bidding

As much as employing professional Residential Construction Estimating Services entails a cost, the cost of not estimating appropriately is considerably higher. It is as dangerous to underestimate as it is to overestimate. In the first case, the contractor assumes certain financial risks because more often than not, the actual cost of the project is bound to be higher than the bid value. Conversely, overestimating leads to failure in acquiring the bid as another company offers a lower bid that eliminates the current company.

Apart from cost consequences, inaccurate estimating also impacts reputation and results in exclusion from future projects. While contractors may not be as proficient as professional estimators in evaluating project risks that may appear at a later time, contractors can have significant challenges in delivering the project within quality, schedule, and cost constraints.

In other words, when the estimate is weak, it merges into the recipe for the overall failure of the project. Collaboration with professional estimators reduces various business risks and contributes to long-term success in construction.

Conclusion

It is important to accurately estimate project costs during the bidding process to secure profitable Commercial Estimating Services projects. Although many contractors may self-perform some of their estimates, the majority of them use third-party estimators and estimation software services. The bids that are prepared by using experience, skills, technologies, and unbiased estimators yield a very low bid-to-lose ratio.

Why not incorporate estimating consultants into your bidding strategy to also submit successful bids and grow your construction firm? The proof is in understanding that professional estimators are indeed worth their money in helping achieve positive results in projects. These specialized services easily justify the cost of the fees incurred in their acquisition.