As a builder or contractor, you know that no two building projects are ever exactly the same. Why? Because each project comes with its own set of challenges and surprises, making it impossible to provide an estimate that is 100% accurate. Plus, with a recent study estimating that 9 out of 10 construction projects experienced and average cost overrun of 28%, it’s no surprise that when it comes to estimating a project, people tend to be a little dubious about what the final cost will be.
But exactly what are the reasons all building projects have variations from the original estimate – and what can we do to limit this?
- The Unknown
When providing an estimate, we can only account for what we know. Unfortunately, there are often unspecified factors that can make an impact. These include hidden damage, structural or supply chain issues, accidents, and illness. This can cause delays to the work and mean a project takes longer (and subsequently costs more) than originally estimated.
- Material Costs
The cost of materials is another variable that can cause disruption – especially in today’s climate. Material costs can fluctuate based on a variety of factors, including supply and demand, import/export costs, and much more. These fluctuations make it difficult to provide an accurate cost – and keep track of budget spend. Check out our recent article on the factors contributing to the ever-changing and escalating cost of building materials for further insight.
- Changes in Scope
Let’s be honest, building projects can also experience multiple changes in scope. Whether the client means to or not, ideas change and develop along the way causing budgets and timelines to be re-evaluated. For example, adding additional features or changing the design midway through a project can have a huge impact on the resources required to complete it, causing increased costs and an extended timeline.
Why Estimates Matter
Even though estimates are never exact, they are still an important and essential part of the building process. Estimates provide clients with a general idea of what to expect in terms of cost and timeline, which is why getting them as accurate as possible is critical in ensuring a good reputation and developing strong customer (and supplier) relationships. Estimates also help builders and contractors plan for the project and allocate resources accordingly, ensuring they have the right people, and materials, for the job.
How ProntoCalc Can Help
ProntoCalc is a construction calculator that can help builders and contractors provide more accurate estimates for their clients. Our tool makes it easy to calculate quantities and costs for various building materials, reducing the likelihood of errors or miscalculations.
In addition, ProntoCalc offers a 14-day free trial so that you can try our tool before committing to a subscription. Sign up today and start providing more accurate estimates for your building projects.
All in all, estimates are never exact when it comes to building projects, but they are still a critical part of the process. With ProntoCalc, you can improve the accuracy of your estimates and better serve your customers.
Why not sign up for our 14-day free trial today and see the difference for yourself?