INEIGHT ESTIMATE
ESTIMATING PRACTICES THAT BUILD CERTAINTY
BENCHMARK FOR DEFENSIBLE CERTAINTY
Confidence comes from having quantitative evidence to back up an estimate when it’s challenged. That’s why top-performing companies build a library of as-built projects—continually feeding actuals data back into the system—so their estimators will have precise benchmarks to validate assumptions about cost and time to execute.
With historical benchmarks in-hand, estimators can:
- Validate assumptions for labor productivity, unit costs, and durations
- Forecast likely outcomes with more certainty
- Justify decisions using actual project performance, not guesswork
Imagine being asked the dreaded: “Where’d you get that number?” and being able to confidently respond: “From similar successfully implemented projects: 75% hit this timeline and cost, 15% came in under, and 10% were over.”
That kind of answer helps owners distinguish a credible, data-driven bid from competitors’ and gives estimators the confidence to say, “We’ve seen this before, and here’s how it went.”
Benchmarking also helps reduce the time it takes to develop an estimate. Instead of reinventing the wheel, estimators can pull from prior projects, adapt proven assemblies, and shorten the path to precision.
Improving data usage, including through benchmarking, can deliver business impact in several ways. In one industry study, 53% of contractors said that it’s helped them complete projects at or under budget, 36% said that it’s helped them complete projects at or ahead of schedule, 46% said it’s resulted in greater profitability, and 26% said it’s helped them win new work.[1]
[1] SmartMarket report: Improving Performance with Project Data, Dodge Construction Network, 2019.
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For us, it’s most important to have data, so that when we hand a client a deliverable, every dollar in that estimate is accounted for in the document. InEight Estimate allows us to have that level of detail.”
- Scott Brower, Project Controls Manager, HNTB
CONFIDENCE IS THE COMPETITIVE EDGE
The most successful estimators don’t just produce numbers, they deliver confidence. And in an industry where just 8.3% of projects meet both budget and schedule goals, that confidence sets winning teams apart.
By focusing on:
- Consistency and precision
- Integrated cost and schedule planning
- Data-driven benchmarking
Estimators can empower their organization to bid boldly, execute smoothly, and inspire trust at every stage from bid to final delivery.