Estimating Principals That Can Maximize Company Profit
Learn essential methodologies and processes that are important for an accurate estimate. Understand the role of the estimator not only in terms of predicting project cost, but also by recognizing potential risk that impacts the financial bottom line of an estimate. This class is based on the premise that an accurate estimate is built from the following:
- Thorough examination of all pertinent project information
- Quantity analysis
- Information assimilated into an organized format that can be easily understood
- Analysis and monetary determinations that reflect accurate costs related to production, material, equipment
- Consider plausible risks that effect pricing
- The estimating analysis process is to consider the law of diminishing returns when preparing an estimate
Although these are important components that make up an accurate estimate, they are certainly not exclusive to the make-up of a successful project estimate. This class will dissect each of these along with other important concepts and will examine their rationale. Students will be shown examples and case studies to demonstrate sound estimating practices.
This insightful and practical information will benefit contractors, subcontractors, construction managers, architects, administrators, accountants, project engineers. This class will not only discuss commonly accepted estimating practices, but also expose the student to new exciting estimating technology that is now common in the estimating profession.