The Perks of Conceptual Estimating

March 7, 2018 4:00 pm Published by Leave your thoughts

Conceptual estimation is a process that insures a more exact estimation by first starting with a broad estimate based on the difficulty or feasibility of a project. Then, that estimate is refined through a well-designed process to come into line with the specific design and construction requirements for the project as they are developed. Conceptual estimating in Indiana provides a far more accurate estimate, and it is a process that refines itself overtime, as a company’s estimation procedures are further standardized, and as its estimation database is expanded. We’ll explain all that and more in this blog about the perks of conceptual estimating.

Understand why your estimate is accurate with a written basis of estimate

Conceptual estimating is based on the facts, which is why a conceptual estimate is presented to a customer along with a basis of estimate. A basis of estimate describes what facts the estimate is based on and, additionally, what assumptions are being made and why those assumptions are truly “best guesses.” The basis of estimate will provide a good outline of the project itself, as well as the underlying cost of each part of the project. A good basis of estimate helps make for a better contract, and helps both contractor and customer stay on the same page.

Standardized estimation procedures, backed by a good database, lead to more accurate results

Standardized procedures for estimating new projects lead to more accurate estimations. Standardization requires processes that might otherwise be opaque to the customer to be broken out into their constituent steps and material needs, and make the construction process, therefore, far more transparent—both to the customer and to the contractor. If you’ve also got your estimation processes backed by a good database, then you’ll be able to accurately predict the costs in terms of time, material and labor, providing a highly accurate estimate for most projects.

Estimates should be double checked for accuracy by all stakeholders

A little quality assurance goes along way toward ensuring the accuracy of your estimate. Just making sure members of each team—engineering, design, labor and so on—look over the estimates for the part of the process their team is responsible for will help ensure your estimates are, on average, far more accurate. Quality assurance is a part of every step of the construction process—why not the estimation process as well?

Quality, reliability and presentation of an estimate says a lot about how a company does business

Finally, we provide conceptual estimating in Indiana because we believe that the way a company behaves with a customer in the early stages says a lot about how that company conducts their business overall. We believe that the process of conceptual estimating reflects our overall fastidiousness in all aspects of our work. This means we truly pride ourselves in getting our estimates right.

Conceptual estimating in Indiana

Benchmark Fabricated Steel has been in business in Indiana for over 47 years. We’re a fully certified steel fabricator, and all our products are manufactured to the highest standards of quality. Our team is staffed with experts in both the fabrication of steel and the design, engineering and construction of extensive commercial steel projects. If you’re looking for a steel fabricator or construction company to do business with, look no further than Benchmark Fabricated Steel. Give us a call today to inquire about our services or receive a free and accurate estimate.

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