Bid Coach: How to Get Accurate Construction Project Estimates

This topic list was designed for construction field staff and provides a data entry guide for AWP Construction for construction contract management. At this degree of development, a concrete contractor should probably bee off an entry level accounting or ERP product. Others that are completing off-site processes like precast may want to ensure they have ERP that can also encompass shop-based materials requirements planning (MRP), process manufacturing and inventory. Even the lone tradesperson can now also access field service management software that will streamline many of their operations.

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It’s important to know that your work won’t begin until the materials you plan to use have been submitted and approved; this is known as the submittal process, and it can be fairly rigorous. With that in mind, let’s dive into ten key differences you’ll be glad you knew about in advance as you transition from residential to commercial construction. Then click here, join the System Builders™ online community for free, and get access to a ton of free trainings, resources, and your new peer group of professional contractors.

Identify and Manage Risks

Also call the licensing authority or local building authority to confirm the contractor is in good standing and their license is valid and up to date. Requiring proof of licenses and insurance shows the contractor has undergone training and understands building codes and processes.

Mobilization fee

Labor costs are probably the hardest item to nail down accurately when it comes to your estimate. There are several variables in play when estimating labor costs, including the number of available workers for the project, their experience level, rate of pay, and productivity. Take the time to fully review the plans and specifications to determine accurate measurements and takeoffs. This will result in correct construction costs when calculating your bid. Takeoff software can ensure that your measurements are correct so you can submit a more accurate bid. Fully review the plans and specifications to determine everything required to bid on the project and complete the work. This includes knowing everything from what bonds are required to whether there are participation goals for minority business enterprises (MBEs) or if material substitutions are allowed in the bid.

Fulfill your state’s licensing requirements for general contractors

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By using a CRM as a platform for your construction project management software, it’s easier to have a standardized process with aligned goals. Juggling multiple contractors and clients at the same time makes it challenging for construction companies to keep track of everything that’s going on at once. Employee and contractor CRM software makes it easy to monitor your operations at both a high level and through detailed project views so that you can quickly see what your teams are doing. If you don’t track your project processes and activities, it’s nearly impossible to make accurate bids and sales forecasts and set goals. Without accurate forecasting, you’re merely guessing how much money you can make, which puts you at risk of running into cash flow problems and potentially losing your business.

If you want to spend the time looking for projects yourself, you can use lead generation platforms like Dodge, Building Connected, or Home Advisor. One of the bonuses of working with I AM Builders that we can help you find the right projects in your area using our national database of projects. No two counties, towns, states, or municipalities are the same, and the savvy contractor knows who to trust and who to question.

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