Copyright to Kim Tremblay, © 2012.
This article is a repeat of an article of the same name first published on December 13, 2011
Reprinted with permission. Published here May 2012

Editor's Note | Introduction | Mistake 1 - Not Getting the Information You Need Up Front
Mistake 2 - Estimating at the Wrong Level | Mistake 3 - Hanging on to Old Technology and Systems
Mistake 4 - Not Using Current Rates and Costs |
Mistake 5 - Failing to Get Supplier/Contractor Quotes | Mistake 6 - Not Dealing with Project Risk
Mistake 7 - Failing to Review Before, During and After | Conclusion

Conclusion

Building better quality estimates is an ongoing process. Establishing and continuing to develop a solid estimating and planning process is the first step to be being able to deliver successful construction projects. If you are struggling with building better quality estimates, spend some time evaluating your estimating practice and identify where your weaknesses are.

Put in place the solutions for your weaknesses - the end result will be worth it.

About 4castplus

At 4castplus Project Cost Management Solutions, we make it our goal to help our customers build better quality construction estimates - to simplify, get control and make money. We offer a construction cost management software solution that has helped our customers address their estimating pains, or weaknesses. That might be the time they have to spend creating estimates. Or it might be the inaccuracy they are experiencing from not having access to current rate and resource information. Or it could be lack of visibility into how their construction projects are actually performing, compared to what they estimated it would. Whatever our customers' pain is, we're there to help. That's our goal.

Along with robust forecasting capability and extensive project and business intelligence reporting, our customers who are looking to improve their estimating love these features:

  • Easily create, manage and duplicate your construction projects, work breakdown structures and estimates. No more creating estimates from scratch, or updating complex and endless spreadsheets.
  • Estimate quickly and efficiently at the project task or resource level. With top-down or bottom-up estimating capability, you choose the level to estimate at.
  • Improved accuracy by estimating with current rates. Know what rates were used previously - easily update current rates (labor, equipment, materials) in one central location.
  • Manage risk better - create multiple construction project estimates with varying risk factors. Evaluate your risk assessment vs. actual to improve your risk management.
  • Easily create customer quotes directly from the estimate. Provide your customers with an accurate quote every time.
  • Current and historical view of your estimating performance. Evaluate your current actual vs. estimate in real-time, drill-down into cost variance by task and compare your results against estimate, as well as against other projects.
  • Project document storage. Store critical project documents within your project, updated documents version controlled for good document control.
Mistake 7 - Failing to Review  Before, During and After  Mistake 7 - Failing to Review Before, During and After
 

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