Estimation: A Key to Construction Success

Construction SuccessConstruction is more than just building an establishment; it is an investment. Reasonably, a capital is required to make an investment. To be properly laid down, the capital is computed way before the project starts. A professional — a cost manager — plays this role and is as important as an architect, engineer and construction workers in the project.

What does a construction cost manager do?

True to its name, a construction cost manager is the one who handles the cost of the project before it starts. However, their tasks are not as easy as adding up construction consumables and material orders. Along with the materials needed for the project, a cost estimator must also include the cost of labour for the specific jobs before putting together a bid.

Though the job might sound easy, being a construction estimator involves a lot of math skills. It is typical to see them staring at blueprints and equations all afternoon while communicating with other professionals involved in the project.

Why is a construction cost manager important in every project?

According to FormDirect.com.au, the success of a project partly lies in the accuracy of the estimation. If one estimates more than what the project needs, then there would be losses. Alternatively, if one estimates lesser than what the project needs, then there could be liabilities.

For cost estimation to be a success, every variable should be correctly projected for it to be estimated accurately. Generally, this estimation is based on past experience, proper study, and research. Apart from those factors, material costs, labour rates, construction site conditions, inflation, and project schedule also affect the calculation.

Like with any investment, money does matter. So, it is always crucial to have the monetary part cleared out before the start of construction to ensure the growth of such investment.