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4 Key Construction Estimating Mistakes That Contractors Must Avoid

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By Author: PrioSoft
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Are you a construction company manager or a contractor finding it hard to estimate the probable cost of a project? Well, this is something that many like you face, especially if you are still lagging with the manual process.
To get your construction process right including having high chances of winning the project as well as managing the profit margin, you need to know what mistakes you are making when estimating. Below mentioned are some key construction estimation mistakes that you must avoid at all costs:
1. Working with Too Little Information
Information and data you have is key to what result you are going to get.
Pulling together the entire bid on a little bit of information will make it highly daunting and moreover, increases your chances of failing. While manually gathering the data is something time-consuming and not always accurate, having the technical assistance from construction software will definitely prove worthy.
2. Not Having a Central Database
Do you have a central database for gathering and accessing all the information? If not, then you are at a precarious place, with a higher probability of losing out on some key information, as well as miscalculations. A quality cost estimating software that provides a comprehensive and easy-interface central database platform is a must-have input point for you.
3. Overlooking Estimate Risks
Not working towards quantifying and reducing the risks is an aspect that can prove too costly to afford. Make sure that you separate the large item prices listed by sub-contractors, which helps to carry out befitting evaluation and comparison.
4. Failing to Review Your Work
While small mistakes and errors won’t make much of an impact, but big mistakes like inaccurate measurements, wrong measure units, omission of scope items, and such can spell out big trouble. This is where the onus is on you to ensure that you carefully review your work and each and every process so as to conclude to the right estimation.
Leveraging a technical platform like free estimating software that has an easy interface and is easy to deploy and use will surely work in your favor and will help you to greatly mitigate risk and error chances.

More About the Author

PrioSoft has been concentrating all of its efforts on addressing the needs of residential and commercial construction contractors since 1999 with our product, Contractor’s Office construction estimating software.

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