Types of Estimates for Commercial Construction Projects.
The amount of information you provide your General Contractor regarding your project will dictate the type of estimate that can and will be prepared for Clients. Keep in mind that all estimates ere not equal- the less information available to the contractor, the less accurate the estimate bottom line. Lets tale a quick look at (3) three various types of estimates prepared by BuildPoint Construction Group of South Florida..
TYPES OF ESTIMATES:
Conceptual Estimates, often called ballpark estimates, typically are when the contractor has no drawing available. Usually used in the idea and conceptual stage of a project. The estimator will order a rough order of magnitude, which will be presented in a cost per primary unit calculation.
Preliminary Estimates, provide a somewhat higher level then accuracy and generally have a set of drawings and overall dimensions of the project. This type of estimate may be used to establish initial budgets and preliminary financing scenarios. While there are many methodologies to the practice, this type of estimate generally is delivered to the owner in a cost per square foot method.
Detailed Estimates, are when the General Contractor is provided all the completed set of plans and specs to the project. It’s when contractors can count every brick and nail of the project sort of speak. This allows the estimating team to review the quantities, costs and calculate every aspect of the project, and this is by far the most reliable estimate if a contractor is requested to give a firm bid on the project. But keep in mind that as the accuracy increases, so does the time, effort and skill required to complete the estimate.
BuildPoint Construction Group provide all Miami Dade, Broward and Palm Beach County clients with FREE Estimates and Pre-Consulting for their projects. If you or your client need some estimating and project support please contact us at our South Florida offices@ www.buildpoint.us we would love to assist. Our phone 954-707-2829