Archive for February, 2012

Mistakes and Mysteries of Construction Cost Estimating

February 21st, 2012  |  Published in Uncategorized

There is no magical, mythical way to produce a construction cost estimate that translates to a profitable project. It takes skill and practice… in fact, it demands best practices. Given the importance of cost effectiveness and performance in this economy, Estimating Today featured an article that focused on the “myths that specifically involve cost estimating and cost controls.”

One aspect the article explains is “the problem does not lie in the estimating methodologies, per se, but rather the improper application of the estimate.”

The article explains that the investment in good project practices is cost effective and worth the investment … either choosing to have an in-house capability to implement best practices or by employing an independent contractor. The article adds: “Estimate accuracy depends upon the level of engineering and project planning completed, as well as the method employed for developing the estimate.”

Of course, it can be argued that it all starts with the right bid … the right numbers to win the work and to make a profit. Antiquated methods of scale, paper, roller wheel, spreadsheets, etc. do not position estimators with appropriate tools to do their job effectively. Investing in a comprehensive yet easy-to-use takeoff and estimating software solution can avail your company with powerful resources to accomplish best practices in a timely and efficient manner.

If you’re wondering how to compare products and determine the features that are critical for your business, your processes, etc., then download this free article, “Choosing Construction Estimating Software That’s Worth Your Investment.

To read the Estimating Today magazine article, “A New Approach for Communicating Cost Estimating Best Practices: Debunking the Common Myths,” authored by Stephen Bransfield, Ph.D., John Owoyemi, PMP, and Brian Fogarty of Booz Allen Hamilton (Washington, D.C.), in its entirety at the magazine’s web site, click here. And for empowering solutions to construction software, look to Maxwell Systems.

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