The acute estimate of cost or rendering the perfect service is desired to any customer. Whatever would your business, you may run construction companies or a hospital administration, no customer likes financial surprises.
The client may be setting up brand new eatery, restructuring age-old house, the role of a cost estimator is to provide him best possible cost data. Justin Vanderbrink, vice president of Rives E. Worrell Company shared his write up tobusinessinsavannah.com . We are going to present you an excerpt.
The work of cost estimating needs such a level of honesty and integrity. This should be the Unique Selling Proposition (USP) of estimating service.
Sometime what it call a ‘napkin sketch’ which we term as the rough outline of the project in the premature stage. This sketch includes :
1. Square footage,
2. Number of floors
3. Building Height
4. Materials
5. Finishes
6. System
It is experienced that many construction estimating firms are doing it haphazardly, just copying and pasting it elsewhere in accordance with the basic knowledge or any previous calculation.
There are many estimating process which is based on speculations and ifs and buts. This extra-ordinary process gives a clear-cut process that gives estimate to the clients.
Now there is no more any guess work. This new process is certainly not depending on assumption. This is basically in-house developed Art to Science Estimating (ASE) system with the historical cost per square foot. The ASE system provides a complete line-item theoretical and conceptual estimate by drawing upon the cost history developed from several billion dollars worth of projects completed.
The system can take access data from the completed projects as per those were groupified. It can be healthcare, educational, office, courthouse, correctional or research and it can break down unit pricing specific to sub-group. Every cost is updated quarterly, taking into account variations based on local market conditions.
Additionally, the cost index of ASE always helps to refine the price and it gives an exact estimation by taking in account of 14 different material and labor component. Here the client can feel the difference. Most of the firms calculate the estimate only using six elements.
It is our principle that the estimators should not waist time and should not make clients wait. The firms such as Rives E. Worrell Co., a JE Dunn Construction Company looks after these responsibilities at the highest consideration. It is necessary to meet the client for discussing various options and settle on the costs.
It has to be remembered that the client is king. The companies should provide best support to the client’s help.
What are the aspects that clients generally get benefit from:-
1. Accuracy of estimation
2. Transparency
3. Well developed risk management (Mainly during early stages of the project when many variables are not yet clear)
4. Time savings
5. Additional Clarification
6. Flexibility throughout the project period.
If these things can be sorted out in time, then only the client can work with self-confidence and place him/herself in a decision making position during the design process. The estimation can be done with great accuracy.
Success and accomplishment is guaranteed in any trade with precise and exact cost estimation. Good cost estimation is not a magic. It cannot be done instantly. An old-hand estimator like Justin Vanderbrink describes the best process here.
It just needs to have a little amount of meticulousness, concentration to detail, knowledge with similar projects and a readiness to invest the time and resources to assist clients clear all their doubts long before the project starts.
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Published By
Rajib Dey
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