👉The first goal of accurate estimating and bidding system.
🚧This is to insure you know and track job labor, equipment, material and subcontractor costs.
🤔Ask yourself these questions as you think about preparing your next bid:
• 📌Do you know and track job costs?
• 📌Do you recap final costs versus the estimate?
• 📌Do your field timecards reflect the real costs per work item?
• 📌Does your accounting system give timely job cost reports?
• 📌Will your estimate produce accurate costs?
• 📌Do you keep track of labor costs?
• 📌Do you have a cost history library?
• 📌Do you feel confident in your costs?
• 📌Are your general conditions costs accurate?
• 📌Is your labor burden rate correct?
• 📌Is your crew bidding rate accurate?
• 📌Are your equipment rates accurate?
• 📌Is your overhead markup sufficient to recover your overhead?
• 📌Is your profit markup enough to give you a proper return?
What's your estimator's No. 1 priority? When I speak at conferences or conventions, I get many responses to this question. They include the following:
• 📌Bid lots of jobs
• 📌Get lots of work
• 📌Maximize sub-bid coverage
• 📌Be competitive
• 📌Know what things cost
• 📌Make a profit
The #top_priority for my #estimator is to arrive at #accurate job costs.
I don't want our bid to be an estimate of what a job might cost, plus or minus 10 percent.
Estimating accuracy is a key to long-term construction business success.
The only variable on any bid should be the #profit mark-up. Excellent and experienced estimators know what things cost.
In my opinion, their estimating goal must be to prepare bid estimates within 1 or 2 percent of the final actual cost on every job. Good estimators continually compare their #past_bids to the final job cost results to see how accurate they were.
Then they make adjustments accordingly for their next bids. They are in constant contact with the field superintendents and foremen to review how they arrive at estimated costs.
✅They continually review labor, material, equipment, subcontractor and supplier costs to insure they know every possibility for differences in the jobs they bid.
✤┈┈┈┈┈••✦ ✦••┈┈┈┈┈✤
✨💫 @etconp ✨💫
🚧This is to insure you know and track job labor, equipment, material and subcontractor costs.
🤔Ask yourself these questions as you think about preparing your next bid:
• 📌Do you know and track job costs?
• 📌Do you recap final costs versus the estimate?
• 📌Do your field timecards reflect the real costs per work item?
• 📌Does your accounting system give timely job cost reports?
• 📌Will your estimate produce accurate costs?
• 📌Do you keep track of labor costs?
• 📌Do you have a cost history library?
• 📌Do you feel confident in your costs?
• 📌Are your general conditions costs accurate?
• 📌Is your labor burden rate correct?
• 📌Is your crew bidding rate accurate?
• 📌Are your equipment rates accurate?
• 📌Is your overhead markup sufficient to recover your overhead?
• 📌Is your profit markup enough to give you a proper return?
What's your estimator's No. 1 priority? When I speak at conferences or conventions, I get many responses to this question. They include the following:
• 📌Bid lots of jobs
• 📌Get lots of work
• 📌Maximize sub-bid coverage
• 📌Be competitive
• 📌Know what things cost
• 📌Make a profit
The #top_priority for my #estimator is to arrive at #accurate job costs.
I don't want our bid to be an estimate of what a job might cost, plus or minus 10 percent.
Estimating accuracy is a key to long-term construction business success.
The only variable on any bid should be the #profit mark-up. Excellent and experienced estimators know what things cost.
In my opinion, their estimating goal must be to prepare bid estimates within 1 or 2 percent of the final actual cost on every job. Good estimators continually compare their #past_bids to the final job cost results to see how accurate they were.
Then they make adjustments accordingly for their next bids. They are in constant contact with the field superintendents and foremen to review how they arrive at estimated costs.
✅They continually review labor, material, equipment, subcontractor and supplier costs to insure they know every possibility for differences in the jobs they bid.
✤┈┈┈┈┈••✦ ✦••┈┈┈┈┈✤
✨💫 @etconp ✨💫
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