A construction estimate is a calculation which enables a person to see what expenses are likely to be incurred during a particular building project. The expenses that are often included within any construction estimate and which will be provided either to a company, developer or homeowner include such things as:
1. Labor – In this estimate they will need to include the types of workers they will be using and how many will need to be employed in order to complete the project on time.
2. Materials – They will need to estimate the amount of materials and what types of materials will be need in order to complete the project.
3. Contingency Sums (an amount to cover for any untoward or unforeseen expenses that may arise during the construction project).
As well as providing estimates for the above also estimates will need to be provided for any plant that will be used during the construction process.
In most cases the construction estimate provided by the construction contractor will be close to the actual costs. However this will always depend on just how accurate the contractors estimating methods that they use are and if they have correctly evaluated and visualized what the project is. So as you can see from above that a correct estimate is very important when it comes to construction work.
Certainly this is the most important job that will need to be carried out by any construction manager for his company as it could in fact cost them the chance of actually getting the job.
So a construction estimate provided by a good construction manager will provide a person with a reasonable idea of just how much everything is going to cost him and whether the work is undertaken or not.
Normally a construction contractor will use one of two different estimating techniques to provide to their client. These are approximate estimates and detailed estimates.
An approximate estimate is normally provided in a very short time span. Or it may be used by a small outfit or construction company when carrying out various minor works.
Whilst the detailed estimate is prepared by actually determining the quantities as well as the costs of everything that the contractor will need in order to complete the construction to a satisfactory standard.
Certainly of the two construction estimate techniques being used today the detailed technique is the much more reliable and also the one that is more commonly used.