Improved ability to ensure project profitability by producing more reliable estimates using automated calculations and historical performance data.Reduced labor costs by saving time spent on preparing job estimates.It is used most commonly in the construction industry–but can also apply to other industries that conduct work on a project basis and need to determine likely costs of completing the work.Ĭritical benefits provided by estimating software include: Quantification for employee hours and job-specific rate managementĬalculation of material costs based on defined material base rate costs and input of quantity requirementsĬalculation of costs likely to be incurred for payment of subcontractors in the performance of job responsibilitiesĬost calculation capabilities for the purchase or rental of equipment required to complete job workĭigital takeoff allows for dimensional information to be extracted from blueprints and converted into a list of required materials and the associated costs for those materialsĭocument management capabilities for the storage and retrieval of job estimatesĬapabilities enabling the translation of job cost estimates into customer-facing quote or proposal documentationĮstimating which uses inputs from previously performed work to inform likely costs of job workĮstimating Software for Improved Bidding and Job Cost ForecastingĮstimating software provides standard processes to build cost models for executing job-based work. Features of Construction Estimating Software Functionality Beyond job cost estimation, construction estimating software can provide payment tracking, report generating, and building schedules. Estimates are created by calculating labor costs, material costs, subcontractor costs, and equipment costs, for the purpose of finding and submitting a bid price for a project.Ĭonsider to be a subset of construction management software, estimates generated via construction estimating software will turn into a construction contract and will lead into the management of the project itself.Įngineers, architects, and construction managers will utilize cost estimating software in the construction field for overall bid management but also on any need to create a cost estimate. What Is Construction Estimating Software?Ĭonstruction estimating software helps contractors estimate the costs of construction for a specific project. What Is Construction Estimating Software?.
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