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How do you deliver construction cost estimates under pressure?

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Delivering accurate and reliable construction cost estimates is a crucial skill for any construction manager. However, sometimes you may face tight deadlines, changing requirements, or unforeseen challenges that put pressure on your estimation process. How can you cope with these situations and still produce high-quality estimates that meet your client's expectations and budget? Here are some tips to help you deliver construction cost estimates under pressure.

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Jitender Girdhar

3 TEDx Talks | Bestselling Author | Entrepreneur | Columnist | I help founders and leaders 10x their impact | Follow…

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Justin Fellows

Independent Quantity Surveyor and Data Analyst | Expert Analysis for Construction Lawyers and Commercial Directors in…
Adam Stark

Supporting Builders with Modern RE Development and Construction Software at Jet.Build | AI | Special Forces Veteran |…

1 Plan ahead

The best way to avoid pressure is to prevent it from happening in the first place. Planning ahead means having a clear scope of work, a detailed breakdown of tasks and resources, and a realistic schedule for your estimation process. It also means gathering relevant data, such as historical costs, market rates, and material prices, and updating them regularly. By planning ahead, you can reduce the risk of errors, omissions, or surprises that may affect your cost estimate later on.

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Jitender Girdhar

3 TEDx Talks | Bestselling Author | Entrepreneur | Columnist | I help founders and leaders 10x their impact | Follow for No-nonsense insights on career & leadership
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"The bitterness of poor quality remains long after the sweetness of low price is forgotten." - Benjamin Franklin Questions to Ask in order to improve: How can we effectively prioritize tasks during tight deadlines? Are there tools or techniques that can help streamline the process without compromising accuracy? What strategies can help us adapt to changing requirements swiftly? How can we leverage past experiences to handle unforeseen challenges? How can we tap into our team's collective experience and historical data to anticipate potential obstacles and include contingency plans within our estimates?

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Justin Fellows

Independent Quantity Surveyor and Data Analyst | Expert Analysis for Construction Lawyers and Commercial Directors in Resolving Complex Claims and Disputes
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Agreed. I would say that having a realistic timescale to undertake the estimate, is imperative as well as having good quality information upon which to provide the estimate. The skill and the experience of the estimator equally so. Estimates that contain errors, have lots of provisional sums, include budget costs, lots of exclusions due to a lack of time and / or information, do not usually end well.

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Bamidele Lawal

Marine Engineer | Shipyard Project Management | Shipyard Estimator | Marine Surveying Enthusiast | Business Analyst & Marine Consultant
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Develop standardized templates for cost estimates that can be customized based on project specifics. Maintain a database of standard costs for materials, labour, and other project components.

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2 Use reliable tools

Using reliable tools can make your estimation process faster, easier, and more accurate. Depending on the complexity and size of your project, you may use different tools, such as spreadsheets, software, or online platforms, to help you calculate, organize, and present your cost estimate. However, you should always choose tools that are suitable for your project type, scope, and level of detail, and that are compatible with your client's requirements and standards. You should also check the validity and reliability of your tools, and make sure they are updated and calibrated regularly.

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Justin Fellows

Independent Quantity Surveyor and Data Analyst | Expert Analysis for Construction Lawyers and Commercial Directors in Resolving Complex Claims and Disputes
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Agreed. There are some really good software packages on the market. You can (depending on the software) import tender information into the software, create quantities if needed, use your own rates, or use and / or adjust rates from any of the incorporated cost libraries (like those within published and recognised pricing books). Good estimating software can potentially (depending on experience, training and skill of the person undertaking the estimate) provide for faster / accurate estimates (easily sent to suppliers and subcontractors / compare returned prices), over using traditional methods back in the day (30 years ago for me).

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Bamidele Lawal

Marine Engineer | Shipyard Project Management | Shipyard Estimator | Marine Surveying Enthusiast | Business Analyst & Marine Consultant
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Leverage advanced estimation software for accurate and efficient calculations. Refer to past project data and historical cost information to inform current estimates.

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3 Communicate effectively

Communication is key to delivering construction cost estimates under pressure. You should communicate effectively with your client, your team, and your subcontractors throughout the estimation process. You should clarify the expectations, assumptions, and constraints of your cost estimate, and seek feedback and approval at each stage. You should also communicate any changes, issues, or risks that may affect your cost estimate, and propose solutions or alternatives as soon as possible. By communicating effectively, you can avoid misunderstandings, conflicts, or delays that may compromise your cost estimate.

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Bamidele Lawal

Marine Engineer | Shipyard Project Management | Shipyard Estimator | Marine Surveying Enthusiast | Business Analyst & Marine Consultant
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Ensure that all assumptions, methodologies, and data sources are well-documented for transparency. Keep stakeholders informed about the progress of the estimate and any challenges faced.

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4 Review and revise

Reviewing and revising your cost estimate is an essential step to ensure its quality and accuracy. You should review your cost estimate from different perspectives, such as technical, financial, and contractual, and check for any errors, inconsistencies, or gaps. You should also revise your cost estimate based on any changes, feedback, or new information that may arise during the estimation process. You should document your review and revision process, and keep track of the changes and their impacts on your cost estimate.

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Jose Fernandez

Skilled Roofing Estimator | Cost Estimation Expert | Data Analyst & Problem Solver
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The review and revise process should be clean, direct and fast. In my experience extended review time can delay other projects you may have on hand. So a proper review system, platform or method is really important to make this step more efficient and good for everyone.

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5 Seek support

Seeking support can help you deliver construction cost estimates under pressure. You can seek support from your colleagues, mentors, or experts who have experience and knowledge in construction cost estimation. You can ask them for advice, guidance, or feedback on your cost estimate, and learn from their best practices and lessons learned. You can also seek support from your client, by explaining your challenges and limitations, and negotiating for more time, resources, or flexibility if needed. By seeking support, you can leverage the collective wisdom and experience of others, and improve your confidence and competence in construction cost estimation.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Adam Stark

Supporting Builders with Modern RE Development and Construction Software at Jet.Build | AI | Special Forces Veteran | 500HR Yoga Teacher | Author | Podcast Host at The Veterans Who Build Show
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To provide quotes under pressure is a recipe for disaster- for all stakeholders involved. A big recommendation is to simply request the amount of time you need to deliver an estimate, and actually deliver that estimate on time. Communicate and be very clear about the timeline you are requesting, the reasons you need that timeline, and the intended estimate accuracy for the added timeframe.

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How do you deliver construction cost estimates under pressure?

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3

4

5

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1 Plan ahead

2 Use reliable tools

3 Communicate effectively

4 Review and revise

5 Seek support

6 Here’s what else to consider

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