Whether you’re building new or renovating an existing location, understanding how budgeting works during the planning phases of your project is extremely important. Given the unforeseen hiccups that can occur, there is no way to be 100% prepared for a construction project, but understanding the estimation phases can give you valuable insight into how your final budget came together.
At Bobbitt, our estimating department categorizes estimates based on the information available. Having design and construction integrated under one roof will help to make plans as watertight as possible. We are sure to fulfill our client’s needs while staying within budget with these four estimating phases:
Feasibility construction estimates
While a feasibility estimate will consider the “end use” of a project, they will not account for any specific items such as type and quantity of cabinetry since they are typically performed without any plans. Feasibility estimates are used to give customers a rough order of magnitude of the cost of the project. These estimates are intended to be a tool to help a customer decide to proceed on the articulated quote or scale the project up or down keeping in mind several feasibilities may be required before moving to the conceptual phase. With the approved budget in hand, Bobbitt can design the features to fit that budget.
Concept construction estimates
Once rough plans are available which show the owner’s general intent for a project, the conceptual estimate phase begins. This time around items can be broken out, alternates can be explored, and construction methods can be discussed. Concept estimates are used as a tool to help our customers address the specific needs of their project and several concepts may be required to accomplish this.
Preliminary construction estimates
When a significant portion of the plans are available showing the owner’s needs for a project a preliminary estimate is done. As part of the preliminary estimate, a complete project take-off is completed and specific material alternates may be presented for consideration. By this time construction methods have been determined and subcontractors may be solicited to review particularly difficult or time-intensive scopes.
Final construction estimates
Final estimates are used to determine the final contract price and scope of a project. They are typically performed when full permit plans are available. Quotes are obtained from several subcontractors to ensure a customer is getting the market price in each specific construction area. New internal take-offs should not be necessary because the permit drawings should generally match the preliminary drawings, just with more detailing.
Importance of having an experienced construction estimator
Understanding these estimating phases can be extremely beneficial, especially when it comes to staying within budgets. Working with a design-build team gives you the ability to prioritize design goals within your budget and project constraints. Design-build experts save owners time and money by utilizing a streamlined approach to design and construction. With a solid strategy and clear expectations, Bobbitt can deliver commercial and industrial building projects on time, on budget and to our clients’ specifications.
If you are considering design-build for an upcoming commercial or industrial construction project, contact Bobbitt today for more information about how design-build can work for you.
