Construction Estimating Software

Any project at the industrial level involves multiple stakeholders who are directly or indirectly impacted the final results. It is the same in the construction industry. Construction isn’t just about collecting all raw materials and starting the building process. There’s a lot more involved here. It requires proper planning, financial calculations, considerations of all operational factors including labor and machinery, and so on. The more complex the project, the higher is the need for accurate planning and decision making, all the while working in a team across various involved departments.  

What is meant by construction estimating?

In a particular construction project, you need to anticipate all the requirements and the total cost of building the structure to avoid any possibilities of the failure of the project. This crucial process is known as construction estimation, an indispensable part of any successful project. The process involves work in broadly two stages where first you get the details of the measurements and calculate all quantities, and then second, you prepare the abstract of the estimated cost. All calculations are made regarding each individual task like brickwork, earthwork concreting, plastering, etc. Once you complete the quantities part, next, you prepare the cost estimate, taking into consideration the labor cost, transportations, equipment cost as well as other contingencies and unforeseen costs.   

What is a construction estimating software?

Sure, every bit of calculation can be done by a human. But think about the unwanted errors that would creep in throughout the workflow, if all estimations are left just to humans. Plus, the massive delay in executing the project can become a concern. Even if not done in pen and paper, if you’re using spreadsheets, that would still involve manual data entry and consequential errors. For tackling this tedious task, the construction estimation software or a cost estimator came into being, a computer program solely dedicated to the team of construction contractors who can now rely on coded formulas and data structures to calculate the budget for any construction project.    

The need for construction estimation software

The cost of the project not only impacts the health of the construction but also the construction workers’ livelihood. One miscalculation may lead to another and, in the long run, can either cause a budget overrun or simply the abandonment of the project. The construction estimation software is the messiah here, protecting the interests of all parties. It looks over the success of the project without the costs going off even by the slightest number.  

Costs involved in the process

Cost enstimation software takes into account the A to Z costs of a project. And of course, this includes all direct and indirect costs. Direct cost is where the construction is a result of the inputs such as materials, labor, and equipment cost. Indirect costs are usually cost overheads like legal fees, utilities, quality control, administrative cost, permits, and security costs.

Levels at which construction estimating software tools work

At the early stages of cost estimation, you work with the minimum required accuracy, which then later progresses into the utmost levels of accuracy with acceptable ranges narrowing down to a minimum. So, using the construction estimation software, first, you’ll be working with the order of magnitude,  where the typical range is between 25% to 75%. If it’s a large scale commercial project, you can use the intermediate estimations to figure out how profitable a particular project will be, if pursued. Once you work out the feasibility, you need to start the basics unit costs with further accuracy. Then, analyze the designs, goals, and outcomes based on the estimated unit costs at the fourth level of the substantive estimate. The final step is the definitive estimate where you put all cost considerations in one place and continuously update it to adjust circumstantial changes.     

Features found in a construction estimating software