Construction estimating is a crucial part of any construction project. Accurate cost estimates are essential for any construction project, be it large or small. We provide construction estimating services to businesses in Australia, offering our expertise and assistance throughout the process. With over 20 years of experience, experts from Property & Building Assessments will assist you in obtaining the most precise cost estimates.
What is Cost Estimating in Construction?
Cost estimation serves as an accurate prediction of the total costs of a building project. Construction estimating is a process of calculating all essential construction cost, including the material, labour, equipment and all other cost directly associated with the project. Building estimation is essential when creating building quotes, and defining an accurate project budget.
What is Included in Construction Estimation?
Usually, construction estimation includes estimating the following cost:
- Material cost – an estimation of all essential materials for the building project, such as bricks, cement, wood, mortar, etc.
- Labour cost – a complete estimation of labour force needed to complete the project
- Equipment cost – an estimation of heavy machinery and other equipment cost needed for the project
- Other costs (overheads) – estimation of all other cost that are tied to the project, but cannot be counted as direct project cost. Examples: rentals, permits, subcontractors, fines, etc.
How Does Construction Estimating Work?
Usually, construction estimation is a process that includes three phases: pre-estimate phase, estimate phase and post-estimate phase:
In the pre-estimate phase, crucial activities are:
- Identify key terms for procurement and create a procurement plan
- Choose relevant parties for the plan such as suppliers, consultants, and subcontractors
- Review tender documentation, notify the client and prepare tender questions
During the estimate phase, crucial activities are:
- Quantity take off and use bill of quantities to make procurement list
- Review procurement responses and build up cost of project from first principles
- Finalise costs, present to client, and provide submission for review
During the post-estimate phase:
- Compare costs to budgets and invoices to ensure accuracy of estimate
- Continuously review the process for improvement
- Conduct post-contract review to identify lessons learned for future estimating.
What Type of Construction Estimation Services We Offer?
Residential Construction Estimating Services
It includes the estimation services for building new homes, and remodelling, repairing, renovation and extensions of existing residential properties. These services play a crucial role in ensuring that construction projects, whether they involve building new homes or modifying existing ones, are carried out efficiently and within budget. We provide cost estimates for new home construction, renovation and remodeling, repairing and maintenance, and property extensions. Our services enable better budget planning and control and risk mitigation in residential construction projects.
Commercial Construction Estimating Services
We offer our estimation services for commercial buildings such as offices, warehouses, factories, retail stores, shopping centres, restaurants, cafes, pubs, hotels. These services are instrumental in making sure that commercial construction endeavors are executed efficiently, within budget constraints, and to the highest standards of quality. Our services enable better budget management of commercial building projects and better risk mitigation.
Civil Construction Cost Estimation Services
These services are essential for ensuring that civil construction projects are executed efficiently, and in compliance with regulatory standards. We provide cost estimates for bridges and highways construction, water supply systems, hospital and schools, subways and other civil infrastructure estimates. These services enable optimum budget allocation of infrastructure projects, and sustainability and compliance with regulatory standards.
What is included in our construction estimation services?
- Feasibility studies - evaluation of a proposed construction project to determine its viability and potential for success,
- Construction take-off services /BOM / BOQs - the process of calculating and documenting the quantities of specific materials and resources required for a construction project,
- Preliminary cost estimates - initial rough estimates of the cost, prepared early in the design phase of a project and used to provide a rough idea of the potential cost of a project (such as the Cost Summary report)
- Full construction cost estimation - A comprehensive and detailed estimate of the total cost of a construction project, including all direct and indirect expenses,
- Cost analysis - detailed examination of the costs associated with the project, including direct and indirect expenses to help make informed project decisions, and detect potential budget savings
- Quantity surveyor support with your construction projects
Who Should Use Building Estimation Services?
- Homeowners – building estimation services help homeowners get a clear idea of how much the residential building, renovation, extension, or reparation projects will cost. Also, the cost estimation services will provide homeowners benefits such as better project budget planning and management, improving cost savings, estimating contractor cost, reducing cost overruns, and making informed decisions.
- Builders / contractors – building estimates help builders improve planning and budget management, better finance management, assist in creating competitive bids for projects, detect cost saving opportunities, and increase the accuracy of initial project cost estimates.
- Material suppliers—construction estimates help material suppliers improve their supply chain management in a highly volatile economy, improve bidding and pricing, increase accuracy in estimates and reduce uncertainty with the constant pricing changes of materials.
Benefits of Construction Cost Estimation Services
Construction estimation services can provide a plethora of benefits, including:
- Accurate cost estimations – which is of crucial importance in ensuring that the project stays within budget
- Improved competitiveness among construction companies in the market – accurate cost estimates help builders come up with competitive bids for projects
- Saved time and effort—accurate cost estimates created by registered quantity surveyors help you focus your attention elsewhere
Why Should You Work With Us for Construction Cost Estimation?
Property & Building Assessments from Sydney, Australia is a company that specialises in providing comprehensive building assessments for residential and commercial property owners and investors. The company's team of qualified and expert estimators and consultants use state-of-the-art technology to deliver accurate and reliable assessments, ensuring that clients make informed decisions about their construction projects.
We’ve been in the construction industry for more than 20 years and have extensive experience with construction cost estimates. We’ve been a reliable partner for many construction companies in Sydney and NSW for over two decades.
Where to Find Us?
Our location is at 29 Kiora Road, Miranda NSW 2228. You can book a call today at (02) 9522 6407 or send us a message below.
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Australian Institute of Quantity Surveyors
