Cost Estimation & Valuation

To create a roadmap of successful project, accurate and detailed construction cost estimates at the planning and design stage is not only necessary to evaluate whether a project aligns with your budget but also important to know whether project is financially viable or not.

Major advantages of cost estimation:

• Value Engineering:Cost estimation prior to taking up projects highlight opportunities for value engineering by modifying or making changes in design, material, construction method to optimizing the cost of construction of project without sacrificing usability.
• Competitive Bid Preparation: Estimating prior to bid allows owners to ascertain hoe much profit margin a contractor shall incorporate in their bid to make it competitive fair and realistic.
• Reviewing Plans: By reviewing cost estimates before you begin construction you can find errors and omissions and also identify gaps that helps in reviewing th plans as per the budget.
• Reduction in Change Orders: With a robust cost estimate, You will face few surprises, and change orders during construction that results likelihood of staying on time and on budget.
• Risk Reduction: Cost estimation prior to taking up project reduces risk to the overall business. Owners are able to plan timing of construction and optimize the financing without affecting projected completion date and cost. Owners with an accurate construction estimate can schedule the reallocation of men, material and machinery. By accurate estimates, contractors can reduce the risk of underbidding or making unrealistic commitments that would otherwise require money and overtime.
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