Here’s Why Estimation Service Matters for Bid Projects!
Estimation service is the backbone of project management. That’s doubly true for bid projects. The whole project can be sabotaged if the estimation is slightly off. You can burn through the funds mid-way if the estimate is low. Similarly, you might need more funds if it is high.
Estimation Service in Bid Projects:
Clients and stakeholders always seek bids backed by meticulously calculated and realistic estimates. A proposal like that helps gain the client’s trust. They gain confidence in the bidder’s competence and integrity. Helping set the stage for transparent communication, trust, and the potential for long-lasting client relationships. Estimation services drive success by providing a transparent and trustworthy financial foundation upon which clients can rely.
Estimation Service Benefits: How can it help scale your business
Estimation service allows you to automate your workflow, giving you more time to focus on your specialty, the business itself. Here are a few ways it can help scale your business;
High bid Approvals
Please don’t waste your time trying to simplify the estimation process by learning about new tools and upgrading them. Focus on delivering improved bids backed by clearly and meticulously designed estimations. Create new business opportunities, make more profits, and let the experts handle the estimate for you.
Attain a competitive advantage, win more bids, and scale your business faster using an estimating service. It helps you give a precise estimate promptly, which your competitors may need help to do.
Forget the Headaches and Wasted Time
Forget about dealing with all the fluctuations in the construction market. Another benefit of using an estimation service is that they remain on top of any changes that may occur and factor that in during the estimation process. This way, you won’t have to worry about the budget being disturbed, and you’ll more often than not complete the project within or under the budget.
Overhead Costs Reduction
Overhead costs are a big no-no, especially if you’re trying to scale the business. Using an estimation service provider can help reduce overhead costs. Instead of paying a team that sits idle and waits for you to give them a project to work on, you only pay for the work that is done.
How We Can Help
We at US BID Estimating and Engineering use traditional and trade-specific softwares like Planswift, Trimble Accubid, and CAD to prepare take-off. Plus, by having the latest data on the pricing market, we can promptly give you a more accurate estimate. We have experienced estimators with hands-on field experience that add value to our estimation services.
Our Estimation Process
Our estimation process begins with a thorough understanding of the project’s deliverables. The next step is to evaluate the project requirements, materials, labor, and risk assessment. Our team then leverages their industry experience and advanced softwares to provide precise cost breakdowns. We ensure real-time accuracy and present detailed reports to clients, helping them make informed decisions.
What are the five main stages of an estimate?
The five main stages of an estimate are;
1. Establishing estimate scope and purpose
2. Project Requirements
3. Cost and Time Evaluation
4. Pricing and risk assessment
5. Validation and Review
What is the difference between estimating and costing?
Costing is the actual cost of a project. Estimating is the probable cost of a project. Estimation is done by considering the potential inflation to provide a more accurate guess.
What is an example of an estimate?
Example: Budgeting a trip to determine an approximate value/cost.