Construction Law

Computer-Aided Cost Estimation Part 2 featured image

Computer-Aided Cost Estimation Part 2

When you want to secure accurate cost estimates for an upcoming project, you want to be certain that your cost estimator is using cutting-edge cost estimation technology. Computer-aided cost estimation software systems allow cost estimators to access regularly updated project cost data and indices to help increase the accuracy of cost estimates for construction projects.

The Florida contractor attorneys at Cotney Construction Law introduced you to computer-aided cost estimation in part one. In part two, we will explore all of the features of these valuable systems. When working with a cost estimator on your next project, consult a Florida contractor attorney to ensure that you are protected if you receive a faulty cost estimate.

Common Features of Computer-Aided Cost Estimation Software Systems

Sophisticated computer-aided cost estimation software systems are valuable because they not only afford cost estimators a high level of customization when developing a cost estimate, they come stocked with an array of valuable features intended to save contractors money and maximize profitability on projects. Some of these common features include:

  • Archival data for unit cost items including worker wage rates, equipment rental costs, and material prices. If the costs in the system change, their prices are actively re-computed and updated in the system.
  • Data depicting the expected productivity for various types of components, equipment, and construction processes.
  • Import data and information from computer-aided design software to facilitate automatic quantity-take-off. In addition, these systems may utilize special user interfaces to enter geometric descriptions of components, therefore permitting automatic quantity-take-off.
  • Forward export data and information to cost control and scheduling software thus allowing preliminary cost management.
  • Simulation functionality for comparing and contrasting the costs of various construction processes and changes in design. This allows continuous tracking of cost data for projects in the planning stage.
  • An array of provisions for editing cost elements like manual review, override, and editing.
  • Customizable formatting for cost estimate reports including provisions for electronic and print reports.
  • Comprehensive archives of past projects for comparative cost estimates. This data can also be altered and manipulated to more closely mirror your project.

Construction Estimating Software Brands

There are many construction estimating software brands vying for your hard-earned money, so it’s important to separate high-rated, popular software systems from unproven, questionable ones. Some of the top-rated construction estimating software brands include:

  • CoConstruct: Comprehensive cost estimation tool that combines intuitive functionality and single-entry estimating to assist contractors.
  • Estimator360: Excels in construction estimating for residential construction, new builds, remodeling, repair, and insurance.
  • Square Takeoff: Save time and simplify the estimation process with tools that help you share your bid and project details. This software is especially useful for residential and commercial takeoffs.

If you would like to speak with a Florida contractor attorney, please contact us today.

Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.