Construction estimating is the process of calculating all of the required costs for a construction project, including direct costs (e.g. materials and worker wages) and indirect costs (e.g. equipment depreciation and office worker salaries).鈥疨rofessional construction estimators perform this essential step in the鈥痯reconstruction鈥痯rocess, which helps ensure that owners and contractors are able to complete a construction project profitably.
Contractors also depend on accurate estimates in order to prepare bids that are competitive and profitable.
Financially sound construction businesses have a data-driven estimating process.鈥疛ob costing鈥痙ata from past projects as well as detailed understanding of indirect and overhead costs enable companies to create estimates and submit bids that are both competitive and profitable.
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