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In a recent article published by Procore, authors Bruno Pasini and Daniel Gray cover how estimating project costs accurately requires detailed knowledge of construction materials, specifications, techniques, codes, and pricing trends.
Construction estimating is the process of calculating all of the required costs for a construction project, including direct costs (e.g. materials and worker wages) and indirect costs (e.g. equipment depreciation and office worker salaries). Professional construction estimators perform this essential step in the preconstruction process, which helps ensure that owners and contractors are able to complete a construction project profitably.
Estimating project costs accurately requires detailed knowledge of construction materials, specifications, techniques, codes, and pricing trends. We'll walk through all of the steps professional estimators use to determine costs on a project—from reviewing a bid package all the way through accounting for contingency and profit.
Read the full article to learn all of the steps professional estimators use to determine costs on a project—from reviewing a bid package through accounting for contingency and profit.
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