Preliminary Estimate Services
Preliminary Estimate Services play a critical role in ensuring the success of any construction project. It assists clients in making evaluations about the project's viability and compatibility with their financial restrictions. For clients looking for a thorough breakdown of the costs associated with their construction project, Bidding Estimate offers preliminary estimate services.
With 10 years of experience in the AEC industry and a portfolio of successful commercial, residential, private, and public projects, we provide you with fast and detailed preliminary estimates based on past project assumptions.
By providing accurate and comprehensive preliminary estimates, Bidding Estimate helps clients make informed decisions about their projects and ensure that they are completed within budget and on schedule.
Ready To Get A Head Start On Your Project? Use Our Preliminary Estimate To Get A Better Idea Of What To Expect In Terms Of Time, Cost, And Resources
What Is A Preliminary Estimate And How It Helps?
A preliminary estimate in construction refers to an early, rough estimate of the total cost of a construction project. This estimate is typically made during the planning or conceptual phase of the project and is based on limited information such as conceptual drawings, site conditions, and general project specifications. The purpose of a preliminary estimate is to provide a general idea of the potential cost of the project and to help the owner or developer make informed decisions about whether to move forward with the project.
Rough Order Magnitude Estimate
The first estimation attempt is known as a rough order magnitude estimate, or ROM, in the project lifecycle. Its goal is to evaluate the project’s viability, which has an impact on project allocation and selection. The typical accuracy range for ROM estimates is -50% to +50%.
During the planning stage of a project, a budget estimate is created by utilizing data and plans from past projects. This estimate outlines the costs associated with each major component of the project, including labor and material costs, in a line-by-line description. Typically, the accuracy of budget estimates falls within the range of -10% to +25% of the actual cost.
Contractors create a ballpark estimate to help their clients understand the scope of work and make budget-related decisions. This estimate is based on preliminary drawings and specifications and has an accuracy range of approximately 20% of the actual cost.
A detailed list of the parts needed for a project is provided in a digital cost estimate, sometimes referred to as a definite estimate. It is produced utilizing thorough project blueprints, and its normal accuracy ranges from -5% to +15%.
Benefits of Our Preliminary Estimate Services
Our estimates can help you assess the upfront cost by providing the following information:
- Organize your spending and obtain loans.
- Establish a budget cap for architects and designers’ projects.
- Decide on a budget and talk to contractors and subcontractors about it.
- Prepare for the following stage of the project by understanding the likely cost of labor and materials.
What Do You Get In Our Preliminary Estimate?
The estimate includes a detailed breakdown of quantities for the following divisions:
- Man Hours
- Project Schedule
- Plumbing (Pipes, Drains, Fixtures, Etc.)
- Electrical (Cable, Conduit, Lighting, Etc.)
- Substructures (Footings, Foundations, Etc.)
- Mechanical (Hvac Systems, Ductwork, Etc.)
- External/Internal Finishes (Drywall, Painting, Flooring, Etc.)
- Superstructures (Walls, Brickwork, Sidings, Roofs, Floors, Staircase, Doors, Windows)
How Do We Prepare A Preliminary Estimate?
To prepare a preliminary estimate, Firstly our estimators analyze the information provided to them to evaluate the scope of the project and produce an estimating plan. Then, they collect data from similar past projects and make adjustments with respect to time, location, and size to ensure accuracy. A contingency is applied to account for unforeseen costs that may arise during the project. Finally, all the specifications, adjustments, and assumptions are documented in detail to provide transparency and ensure that all parties involved understand the basis for the estimate. By following this process, our estimators can produce a reliable preliminary estimate that accurately reflects the scope of the project.
Our Service Area
We provide Preliminary Estimate Services to clients throughout the United States, particularly in New York, Maryland, North Carolina, South Carolina, Pennsylvania, Florida, Georgia, Chicago, Minnesota, Oklahoma, Texas, Arizona, California, Colorado & Utah.