How to Estimate Construction Costs

[@ConstructIQ]

Free Estimating Course: courses.construct-iq.com/courses/costestimatingandmanagement

[@ConstructIQ]

Get access to a free cost estimating spreadsheet: courses.construct-iq.com/pages/project-cost-estimating-spreadsheet

[@ConstructIQ]

@Randall H Haddock That's great Randall. Did you find it useful?

[@joelmarcy8027]

Do you really think that companies that are doing this involved types of jobs are looking into how to do an estimate. It's people like me who want to know how to do basic estimates. Cost, labor, profit, and how to get a winning bid on basic jobs. This stuff you're talking about doesn't relate. Companies doing jobs like your describing aren't getting on KZbin to figure out how to bid jobs

[@ConstructIQ]

Hey Joel, the videos are targetted at people upskilling to get jobs at those sorts of companies and new entrants to the industry. I am sorry it doesn't meet your requirements.

[@joelmarcy8027]

@@ConstructIQ actually it's not. They aren't watching

[@Lorenzo-ej6eq]

@@joelmarcy8027 I am, don't be so bitter!

[@isaiahsabljic1219]

@@joelmarcy8027 I am studying in the Construction Management industry, have a work experience job at a commercial-residential building company. I am wanting to know the basics of large scale project estimating. So, I watched this video. After gaining experience in the management and physical labour side of the industry - at larger and smaller scales. I can say that this definitely does apply to any sized job - not just commercial scale.

[@TrevorWilliams-fq8mg]

​@isaiahsabljic1219 Clients look for certainty in the final cost of a project as opposed to a bid price. To achieve that a partnership route provides the best solution where a Contractor is awarded a project before any design work has been produced. The Contractor then provides his buildability expertise so it is incorporated into the design. The Contractor also provides an early stage budget price to give the Client some comfort. Then as design work and planning submission takes place the Contractor converts his budget price into a firm price. This firm price also includes a fully detailed and priced risk register detailing all risks. On a large project the risk register would typically contain 200 risks. This is how major partnership construction projects are produced in the UK. Google the new engineering construction contract (NEC) option C target cost to see axtypical contract.