Takeoff (also construction take off or take-off) refers to the quantities and amount of labor required to complete a construction project. To create these estimates, the contractors and their subcontractors must determine the quantities and cost of all of the materials, equipment, and labor, for their work, which usually begins with generating a takeoff list using information found in the bid package. For large projects that require detailed bids, the process requires much more due diligence to achieve an accurate cost estimate. For small projects, an experienced contractor can come up with a quick estimate in his or her head. What Is Construction Estimating?Ĭonstruction estimating, also called construction cost estimating or simply estimating, is the process of identifying the approximate, yet detailed, costs associated with a construction project. Once a contractor or supplier downloads the bid documents, they can begin the takeoff and estimating process and begin creating their bid. Public projects must be publicly advertised in advance and bid documents must be made available so that any qualified contractor may submit a bid before the bid date. For public projects, which are sponsored by local or federal government agencies, the construction bidding process has specific requirements.
The documents generally include project blueprints, location / schedule constraints, insurance requirements, and other information.įor privately owned projects, this bid package may be shared with any number of contractors, few or many, depending on the owner and his or her prior relationships with contractors / builders. This bid package summarizes key details about the project in order to give contractors all of the information they need to make accurate estimates and produce a proposed schedule and budget for the project. The process begins with the owner, or project sponsor, creating bid documents, which are collectively referred to as a bid package. Typically, for large construction projects, companies and governments accept bids from many different contractors and then decide which contractor will perform the project.
These bids summarize the costs that the contractor expects to pay for the development of the structure or infrastructure. Understanding Construction Estimating for GC’s & BuildersĬonstruction estimating is part of the construction bidding process, during which contractors and builders submit proposals, or bids, to project owners, offering to provide services or supplies for a construction project.
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