Cost Estimation – Bolt Estimating

Bolt Estimating offers a wide range of construction cost estimating services and cost management services to cater to the needs of the ever-growing construction industry.

Construction cost estimating is the process of forecasting the cost of building a physical structure. Of course, builders and clients both worry about the financial impact of cost overruns and failing to complete a project.

Clients considering large projects often seek multiple cost estimates, including those prepared by contractors and those calculated by independent estimators.

Project owners use cost estimates to determine a project’s scope and feasibility and to allocate budgets. Contractors use them when deciding whether to bid on a project. You usually prepare estimates with the input of architects and engineers to ensure that a project meets financial feasibility and scope requirements.

A good cost estimate prevents the builder from losing money and helps the customer avoid overpaying.

1. Design Estimates:

Design estimates include screening (order of magnitude) estimates, preliminary (conceptual) estimates, detailed (definitive) estimates, and engineer’s estimates. These estimates run parallel with the planning and design of a project.
• Design Estimates
• Screening estimates
• Engineer's estimates (based on specifications and architectural plans).
• Preliminary cost estimates

2. Bid Estimates:

Bid estimates are submitted to the investor for purposes of competitive bidding or general negotiation. These estimates consider the direct construction cost including field supervision, as well as a markup to cover general overhead and profits. Direct construction costs include subcontractor quotations, quantity takeoffs, and construction procedures.

3. Control Estimates:

Control estimates are used throughout a project to monitor costs. A control estimate establishes the budget estimate for financing, the budgeted cost before construction, and the estimated cost of completion during an ongoing project.
• Budget cost estimate for financing purposes.
• Budgeted cost after assigning to contractor but before construction.
• Estimated cost of completion during ongoing construction.

The Requirement for Construction Cost Estimation Services

As new project delivery methods for constructions continue to evolve, our highly respected Company have foray of construction cost estimation services. Our company have the capability and the experience to provide the following services, amongst others.
• Building Cost Estimation.
• Residential Construction Cost Estimation.
• To estimate project construction budgets.
• To establish financing requirements.
• To establish benchmarks for a construction bid.
• Establish whether a proposed new construction plan is profitable or not.