General contractors can use the best construction estimating software to figure out how much it will cost to build a certain thing, like a house. For the purpose of determining and submitting a bid price for a project, estimates are developed by estimating labor costs, material prices, subcontractor expenses, and equipment costs. Estimates made by the best construction estimating software will lead to the creation of a construction contract and project management.
15 Best Construction Estimating Software in 2023
These construction estimates can be made with a choice of preloaded templates in the software. These templates let you add your firm’s logo, customer information, line items for products and services, and other terms and conditions to the agreement, among other things. Cost estimating software will be used by engineers, architects, and construction managers in the construction industry to keep track of all the bids and to figure out how much they will cost.
In addition to task cost estimation, the best construction estimating software can also enable payment monitoring, report generation, and building timelines. More complex software alternatives, such as building information modeling (BIM software), are also available. This sort of software generates 3D models that are used to plan, design, build and manage buildings and infrastructure.
Features of Best Construction Estimating Software
- Functionality Definition Keeping track of labor costs Quantification of employee hours and rate management for specific jobs
- Estimating materials The cost of materials is based on the price of the materials and how many you need.
- Estimating by subcontractors Calculation of costs anticipated to be spent on the fulfillment of work tasks for payment of subcontractors
- Estimating the cost of equipment capabilities to calculate costs for the purchase or rental of equipment necessary to fulfill job tasks.
- Takeoff in the digital realm Digital takeoff is the process of taking measurements from blueprints and turning them into a list of materials and their costs.
- Calculate the cost of document management. Job estimates can be stored and retrieved using document management features.
- Conversion from estimate to quotation Capabilities that allow job cost estimates to be turned into customer-facing quotes or proposals
- Estimating based on the past Estimating is a method of determining the expected expense of a task by using data from previously completed work.
The Benefits of Construction Estimating Software
What are the benefits of using the best construction estimating software for your company? What advantages does estimating software bring to your company? The following are a few of the most important reasons:
Bidding and job cost forecasting have both improved
Job cost estimating features gather and analyze price data in order to estimate the amount of time, money, materials, and labor necessary to construct a physical construction. An inability to do so can result in cost overruns and the project’s failure to be completed. The best Construction estimating software lays out a set of steps for making cost models and doing job-based tasks. While it is most generally associated with the construction sector, it may also be used by other businesses that perform work on a project-by-project basis and need to estimate the expected cost of completion.
Here are some of the benefits of the best construction estimating software for bidding and job costs:
Labor expenses were cut by reducing the time spent on creating job estimates. and improved the ability to assure project profitability through the use of automated algorithms and past performance data to produce more trustworthy projections. increased bid success rates by delivering bids to consumers faster. reduced job costs by identifying cost-cutting measures such as better job selection, smart subcontracting, and alternate material and service sourcing.
Make a digital takeoff
Functions that allow the user to derive material counts and estimations from digital designs are referred to as “construction takeoff.” This ability, called digital takeoffs, can scan blueprint file types like SVG, DXF, DWG, and PDFs, then turn them into editable digital files that can be used to make changes to them.
The data from the digital blueprints can then be used to figure out how many numbers and measurements there are. With the help of a proficient estimating application and designs, you may quickly determine the extent of the project.
Then, after you figure out what you’re going to do, you can work backward and figure out how much it will cost to do it based on data.
In terms of labor expenses, the same procedure applies.
You can more accurately project expenses when you split the work down into smaller sub-components. A construction takeoff often includes the following materials:
You can either do a simple count, set very specific length criteria, or use area for parts that are specified in volume to figure out how an item is measured (like concrete). These complicated equations will be solved by digital takeoff capabilities to get the exact quantities that are needed.
Make a list of what-if scenarios. A “what-if” scenario is a hypothetical scenario that considers how a certain task or project may be handled. When it comes to determining the price of construction work, construction estimating can better prepare you for the best-case and worst-case scenarios.
By examining each step of the project lifecycle, project managers should be able to better forecast the result of a planned construction project. In project management, what-if scenario analysis helps by looking at different scenarios and letting your company make better decisions and take action.
The idea is to lessen uncertainty by better preparing your company to adapt to various events. Because of better project predictability, your company should know more about both simple and complex things to expect with your next projects. Consider a situation in which a construction company is bidding on road construction. They know the road measures, but they may wish to provide the buyer with a variety of materials to choose from.
There are two possible ways to estimate the cost of labour and materials, as well as how much maintenance the project will cost over time. A flexible construction estimating application will help you make these two possible scenarios.
In a separate situation, if a kitchen is being redone, the ability to swiftly swap in and out different cabinet types, worktops, appliances, and so on—without having to redo the entire bid—allows for both flexibility and speed in adapting to changing client expectations.
Creating Accurate Estimates Using Historical Cost Data
Keeping track of how much previous projects cost might save you time when you come up with new estimates for similar projects. These estimates can be used to figure out how much your project will cost, as long as the prices of materials and labour don’t change too much from time to time. For comparative cost analysis, cost estimators can use routinely available construction cost data. Catalogs of vendor data, magazines, commercial cost reference books, and digests of real project costs are all examples of this.
Alternatively, your company might estimate costs by looking back at previous initiatives. This is useful when working for the same client or performing the same sort of construction work on a regular basis. A computerised record of prior estimates and bids will be included in the best construction estimating software.
The simplest choices will have a built-in historical database that allows you to compare volumes, prices, and crew and machine productivity statistics from past projects. Earned Value Analysis (EVA), which can track a project’s progress at any time and help you predict how much it will cost as you move through the project stages, may be part of a more sophisticated option.
Examine the estimated job costs in great detail
Process costing or job costing can be used to price construction and industrial projects. Based on previous data, process costing will assign a cost to each stage of a manufacturing project. Job costing identifies the precise labour, materials, equipment, and subcontractor expenditures that must be incurred, as well as their estimated costs. There are more consistent costs to be tracked through process costing than through job-costing because of the use of more historical data and less guesswork, which makes job-costing more accurate than process costing.
As a result, task costing is more prevalent in the construction estimating sector. Dedicated work cost software can assist in saving time on job-costing calculations that would otherwise be done manually using spreadsheets. Most estimating software can be used with work costing procedures, which means your company can more accurately price tasks, make timely estimates, calculate realistic profit margins, and track expenses in real time.
A good estimating app will give you the analytical tools you need to understand your costs in many different areas of work. Estimates and expenses broken down by sub-projects, geographical locations, or other organisational units give a wealth of information for determining which work parts are driving the project’s total profit or loss.
You may need to separate expenditures in order to track the subsequent revenues in order to determine payback. If you’re a builder wanting to lease your own space, for example, it’s usually necessary to determine prices based on knowledge of what’s required for per-unit cost recovery. This would require keeping track of the whole project cost–by building or per unit.
ProEst is a top best construction estimating software that lets you make bids in half the time it takes with other software. This allows your cost estimators to get more bids than ever before. ProEst may be used by a wide range of organisations, including big civil engineering firms.
2. Clear Estimates
Contractors who want to make professional proposals in minutes rather than hours will find Clear Estimates to be the best choice. For enhanced accuracy, a database of over 10,000 pre-loaded components contains labour and materials costs particular to your location.
3. Estimating Link
Estimating Link is a complicated estimating software tool that can be used for both public and private projects. It can be used for major roadway, environmental, bridges, site-work, railroad, and civil projects. It was created with unit pricing and lump sum bidding in mind.
4. PlanSwift Construction Takeoff & Estimating Software
PlanSwift is a simple construction takeoff and estimating software tool that makes takeoffs a breeze with only a few mouse clicks! This software can be used in a lot of different fields, like general construction, electrical, flooring, HVAC, plumbing, and more.
5. RSMeans Data Online
Gordian’s RSMeans Data Online is an online construction cost estimating software that includes a vast construction cost database in a number of forms. The solution offers a high degree of cost data (unit pricing, assembly, and square foot models).
STACK is a one-stop shop for better estimating and preconstruction management. Increase project efficiency and profitability by using industry-leading, cloud-based software. The STACK is intended to serve as your planroom’s core hub…
Buildxact is a simple estimating and construction management software that you can use on your phone or at the office to handle estimates, purchases, and scheduling. It’s simple to create unique quotations using point-and-click estimates.
CoConstruct is a cloud-based construction management software that was created with builders, their clients, and trade partners in mind. While CoConstruct strives to help you de-clutter your day while providing satisfying building experiences.
9. Houzz Pro
Houzz Pro is the industry’s leading all-in-one business software for renovation and design professionals. Thousands of home remodelling experts use Houzz to manage their whole company, from local marketing tools to project and client management…
10. Sage Estimating
Sage Estimating is an all-in-one estimating tool that has cost databases for a wide range of construction trades. This software helps you make takeoffs and proposals for your clients quickly. You have the option of using one of the pre-populated.
11. Estimate Rocket
Estimate Rocket has features that help you go from a lead to a paid job. The all-in-one platform gives you the online estimating and invoicing tools you need to operate your business and make your everyday activities easier. You may use the software to develop professional proposals.
Procore is a software-based construction management solution. Construction professionals can use Procore’s cloud-based project management tools to make sure high-quality projects are done on time and under budget. Procore is a program that combines traditional.
Trimble’s WinEst is a project cost estimating software solution that includes: Cost Database: There are a variety of WinEstimator and third-party professional cost databases available, all of which are specifically designed to improve cost knowledge and “info flow.”
Buildertrend is cutting-edge project management software that runs in the cloud. They provide the construction sector with a better way to build, with over 1 million users across the world. Construction experts may use the software to complete more jobs…
15. Estimating Edge
According to Estimating Edge, The EDGE and EDGE On-Site are excellent alternatives to takeoff and estimating systems that produce competitive estimates. Commercial subcontractors may produce quotes with accuracy and speed using this comprehensive estimating solution…