Types of Construction Estimates

The aim of preparing an estimate is to convert a set of construction documents, such as drawings and specifications, into an accurate and useful budget to find out the approximate cost of the project.

Each type of estimate relies on a particular source of information and offers a different level of detail, and, consequently, accuracy.

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Construction Estimating Process

Whether you are a project owner, general contractor, subcontractor or an advanced DIY enthusiast, getting a good idea of what costs will be involved is the first very important step on the way to the success of your construction project. Exceeding budget, overbidding and loosing a tender or ending up with no profit is something we simply cannot afford.

Though not a rocket science, construction estimating is a fundamental discipline that  sets out a framework for predicting the building costs with  a reasonably high degree of accuracy.

There are different ways of estimating a construction job. Here, we propose a method that features the following 5 steps:

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