Estimating is a little science and a little art. The science is getting the right numbers in the right places, while the art is the fine-tuning necessary to make your estimates work for your particular company. Throughout this in-depth educational series, estimating expert Tim Faller will walk you through the goals, challenges, and solutions to help you create accurate estimates. The ultimate goal being getting the estimate within one percent of actual dollars.
Tim will cover:
• The goals that keep us on track and “head trash” that derails us
• Pricing strategies for effective estimating
• Working from data not feelings
• A quick look at software to assist in estimating
1. Setting the Foundation for Effective Estimating - March 2, 2021 at 1 pm Eastern Time (90 minutes)
The first part of this series will focus on setting the foundation for effective estimating. We will cover goals, definitions, and the “head trash” or challenges that many contractors face. We will also discuss the gathering of information to ensure an estimate is accurate, including the use of checklists and 3D imaging.
2. Effective Pricing Strategies - March 9, 2021 at 1 pm Eastern Time (90 minutes)
Session 2 will focus on the actual pricing involved in estimating. This will stress using data from job costing for estimating, effective pricing strategies like sqft, linear ft, unit pricing and when they should and should not be used. We will address correctly calculating labor burden as well as the challenges of T&M pricing and using allowances effectively.
3. Estimating Software, Change Orders, and Sales - March 16, 2021 at 1 pm Eastern Time (90 minutes)
Session 3 will start with a quick look at some software that may help in estimating and what that software must do to be effective. We will continue by discussing the actual estimating process, getting the right sale price, estimating Change Orders and some of the unique challenges to them. We will end with a discussion of the impact sales skill has on estimating.