STRATEGIC ESTIMATING:
3 ESSENTIAL ESTIMATING PRACTICES FOR COMPLEX BUILDS
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AUTOMATE REPETITIVE TASKS
If historical data is the bedrock of precise estimating, and standardization is the blueprint, then the automation of repetitive tasks is the engine powering modern construction efficiency. From high-tech construction robots to AI-powered project management, automation is reshaping the industry.
This drive toward automation has also trickled down into the finer aspects of construction—estimating included. Swapping out slow, manual methods for automated, technology-driven processes can allow you to achieve precision and speed like never before.
Automating also frees up your time to focus on the more strategic aspects of your projects, such as analyzing market trends, exploring new construction techniques, and building client relationships. This shift lets you contribute meaningfully to project planning, risk management, and decision-making, leading to better outcomes.
These days, automating isn’t an option; it’s a strategic imperative. To make strides toward automation, consider three specific elements: templates for deliverables, databases for quantifying tasks, and advanced data analysis and reporting tools. Each plays a vital role in helping you to elevate the estimating function.
USING AI-POWERED TEMPLATES HAS A RIPPLE EFFECT ON THE ENTIRE BUILD PROCESS.
TEMPLATES FOR DELIVERABLES
The most efficient estimating departments use templates for deliverables like RFP responses, estimate summaries, change order requests, and subcontractor agreements. But we’re not talking about just any templates. We’re talking AI-powered templates that extract data from various sources and use it to generate tailored documents, slashing grunt work and saving time. Templates also increase the accuracy and consistency of your responses and improve your chances of winning bids.
Using AI-powered templates also has a ripple effect on the entire build process. For one, it makes collaborating with team members and external stakeholders easier. With centralized templates, everyone works from the same script, reducing miscommunications and keeping all parties on the same page. This synchronization is critical, especially in complex construction scenarios spanning years and involving multiple teams, subcontractors, agencies, and even geographies.
The dynamic nature of templates also means you can quickly update them to reflect changes in project scope or regulations, keeping your documents current and compliant. Integrating AI into your estimating process is a giant leap toward more intelligent project management.
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DATABASES FOR QUANTIFYING TASKS
Experienced estimators are already well-versed in the complexities of major construction projects, including the nuances of quantification and cost estimation. Sophisticated construction estimating software doesn’t replace such expertise; it amplifies and enhances it, merging a precision-driven approach with project planning and execution.
Advanced quantification tools within these software solutions provide precision for quantity takeoffs, where accuracy is crucial.
The technology allows you to extract material, quantity, and part requirements directly from digital blueprints, eliminating the slow, error-prone process of manually measuring and calculating from physical plans. And because the software automates calculations, it minimizes the risk of human error, contributing to the overall quality and trustworthiness of your work.
These tools also use sophisticated algorithms and databases with up-to-date material and labor costs that help you stay competitive yet realistic, aligning your estimates with what’s happening in the market. This integration allows for a more dynamic estimating approach in which costs update automatically based on market trends and pricing. In an industry like construction, where prices tend to fluctuate, this real-time integration can help you maintain the accuracy of estimates.
Bottom line? Adopting advanced estimating software and centralized databases is a strategic move that positions you to leverage your team’s expertise and industry insights. These tools streamline the quantification process while enriching the quality of your work, positioning you as a top estimating team ready to tackle tomorrow’s challenges and opportunities.
SOPHISTICATED CONSTRUCTION ESTIMATING SOFTWARE DOESN’T REPLACE EXPERTISE.
“We make better project execution decisions because we're working from the most accurate and up-to-date information from InEight Estimate.”
- Jim Blois, President, Blois Construction
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ADVANCED DATA ANALYSIS AND REPORTING TOOLS
Estimating teams serious about automating repetitive tasks rely on advanced data and analysis tools. Deloitte’s State of Data Capabilities in Construction report revealed what you likely already know—construction professionals spend too much time on data, ranging from 11.5 to 13.4 hours per week, depending on their role. The report also showed that construction companies classified as data leaders see a 50% increase in average profit growth rate each year compared to data beginners.
Data analytics also transforms reporting and documentation. Analytics tools simplify managing tasks like comparing equipment performance against industry standards and identifying underperforming equipment, which leads to better equipment selection and reduced idle time. These tools also assist with schedule management, allowing you to analyze the activities and locations of equipment and crews to find schedule gaps or overlaps and optimize assignments.
Another way to cut repetitive tasks and boost project outcomes is by integrating Building Information Modeling (BIM) into your processes. BIM offers a more integrated and detailed approach to estimating through a visual and data-rich representation of a construction project. This approach allows you to access precise measurements and materials data directly from the model, leading to more accurate and efficient bids. BIM also supports real-time updates and changes, ensuring that estimates remain current and reflect project modifications.
These advancements in data handling efficiency, enhanced reporting, and BIM workflows represent a new frontier in construction project management. By using these sophisticated tools, you can automate repetitive tasks, increase efficiency, improve project quality, reduce costs, and boost profits. Embracing these tools can position your team at the forefront of an evolving industry. You won’t just be keeping pace; you’ll be setting standards, shaping a future where enhanced efficiency, superior quality, and remarkable profit gains are tangible realities.
YOU WON’T JUST BE KEEPING PACE; YOU’LL BE SETTING STANDARDS
SUCCESS STORY
AECON’S ACCURACY ADVANTAGE:
PIONEERING PRECISION IN PROJECT ESTIMATION WITH DIGITAL TOOLS
Aecon Group Inc., Canada’s largest publicly traded infrastructure development company, faced considerable estimating challenges. The company wanted to transition from traditional processes to a digital estimating solution to save time and budget. The conventional methods of creating bids were time-consuming, taking up to a week. Aecon wanted a solution to help estimators gather more intelligence about prospective bids and create estimates in less time.
Enter InEight Estimate. The advanced digital estimating software has transformed Aecon’s estimating function, saving more than 3,000 estimating hours each year. With the Bid Wizard tool inside InEight Estimate, Aecon now creates bids in minutes, saving up to 4.5 days for each project setup. These efficiency gains have allowed the company to shift bid preparation hours into estimate analysis. The result? Aecon now produces faster and more accurate bids, significantly improving its operational efficiency and productivity.