Despite having a long-term experience in construction project estimating, there may appear situations where you become faulty in deriving precise figures. At the point of error detection, after the estimates are finalized, your depressive mode becomes active. Isn’t so? Definitely, yes. After a hectic and tedious procedure of calculations, when there comes a question mark on its credulity, this is no less than a melancholy for the estimator. Construction estimation errors turn out into the big budget of the estimating agency. Consequently, they make the construction owner face project delays, leading the cost to jump up and end up disturbing customers’ relationships.
No matter if the project is concerned with commercial construction estimating or residential cost determination, errors in estimation can occur recurrently. The mistakes in the estimates are probably due to certain factors of which the construction estimator is sometimes devoid. Let us guess what these are:
Judgment/ Decision Error– A wrong estimate of the labor working hours leading towards underestimation.
Duplication/ Omission Error– Omit any cost factor in the calculation or calculate a single thing double time, thus causing over or underestimation.
Computational Error– Error occurrence by making manual calculations instead of using the software.
Wrong Scale Error– This type of error takes the whole estimation to the extreme of the default configuration. It happens when the architect uses the wrong scale in planning the construction process and lacks the required attention to it.
Construction Scope Error– Exclusion of necessary objects or takeoff from the construction proposal leads to inaccurate estimation.
Besides the presence of probable erring factors, there are optimal ways available for lessening them. In this article, we have collected some construction estimation errors reducing tips for you that can prove to be your outstanding estimation assisting partner.
- A Good Know-How About Project Requirements
A common mistake in construction estimating is the unawareness of project requirements. Before starting estimation, develop a thorough understanding of what the project entails. It encompasses the consideration of customer objectives, project scope, budget, and duration. If you lack insights into these, you are most likely to overlook important details and, ultimately, make errors.
- Use Reliable Information
Another common source of construction estimation errors is referring to erroneous data. If you want 100% accuracy in your estimates, make certain that the data you are taking help of is up-to-date and reliable. The information may relate to costs of labor, material, equipment, and other expenses.
3. Split the Project into Components
Separating sections of the project into smaller components can refrain you from making estimation errors concerning time and materials. Estimating the entire project is a technical and time-consuming task. So, it is better to break it down into small work packages to make your job easy. This attempt can also assist in areas identification where there is a possibility of over or underestimation.
- Take Help of Historical Records
Including historical records of similar projects helps in reducing construction estimation errors. Using such data in your current project’s estimation can opportune you to make more informed decisions. Analyze the costs of material, labor, equipment, or construction expenditures and add those figures to your estimates if the project is of the same nature. This will not only save time but also identify the varying estimation trends.
5. Ponder on the Construction Site
Site conditions can have a considerable impact on construction estimation. For example, if site access is difficult, you have to use special equipment or take additional safety precautions, which can take the project’s cost up. Similarly, if the site is in a remote location, you may need to factor in additional transportation costs. Ascertaining the construction site from all ends is necessary for correct cost estimation.
- Wise Selection of the Project Crew
Construction estimation cannot be carried on single-handedly as it requires teamwork. It is essential to select credible individuals in the process. An estimation team formation comprises knowledgeable project managers, estimators, engineers, and other professionals who have vast experience in handling simple to complex estimation projects. Team building of such entities gives assurance of more accurate estimates.
- Get Assistance From An Estimating Software
Estimating software can be a helpful tool in commercial construction estimating projects. This can help you in your estimation management, cost tracking, and area analysis of over or underestimation. From among the different types of estimating software, it is essential to use the appropriate one that matches your specific needs and, therefore, works in error reduction.
- Cross-Check Your Estimate
Once the estimation is completed, it is advisable to double-check it. It involves reviewing all of the project data and checking for possible errors. This attempt makes it clear that your estimate is consistent with the project specifications. Besides this, also refer to someone else to review your estimate. A fresh set of eyes can often identify errors that you may have passed up.
Conclusion
Construction estimation errors can make you suffer a lot. To avoid such trouble estimator’s precise planning and attentive trait is what you need. Follow the above-mentioned tips to ensure risk minimization of estimating mistakes.
