What Are Preliminary Estimates?
Preliminary estimates have long been a tool used in construction to get a rough idea of the costs associated with a project before carrying out a more detailed report. We use preliminary estimates mainly to provide our clients with a ballpark figure before getting into the intricate specifics and details.
Mo Engineers has put together this article to give you some insight into what preliminary estimates are and their finer details.
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The Definition Of Preliminary Estimates
Preliminary estimates are the initial calculation predictions for a particular job performed by a team of masonry estimators prior to engaging in a detailed construction project analysis. We base preliminary estimates on the minimum details that we have, such as historical data, site images, and assumptions.
Before getting too carried away, it’s important to note that preliminary estimates should not be considered as the final price and may require multiple revised stages based on the information we gather further down the line.
What Type Of Projects Require Preliminary Estimates?
At Mo Engineers, we carry out preliminary estimates for various construction projects, from industrial buildings to schools; regardless of the size or costs, we have you covered. See some examples of the work we have done before.
- Apartment complexes
- Commercial buildings
- Apartment towers
- Store rooms
Are There Any Other Types Of Construction Cost Estimates Mo Engineers Use?
As mentioned, preliminary estimates are only the first stage of a project’s estimation. If a client would like to take the next step, our team will carry out one or all three of the following different procedures/formulas.
- Detailed Estimate – A more comprehensive estimate technique that can be done when more accurate information about the project becomes available.
- Quantity Estimate – An estimate that gives clients an in-depth list of material quantities required for the job.
- Building Information Modeling (BIM) Estimate – An advanced estimation method that leverages specific modern technology and software to give us precise cost projections.
- Bid Estimate – The estimate submitted to clients with the goal of securing a project.
What Is The Purpose Of Preliminary Estimates?
Masonry estimators use preliminary estimates for a number of reasons, such as:
- They show estimators if a project is feasible or not.
- Potential project costs, like materials, labor, equipment, rentals, and other additional requirements, are highlighted.
- Possible risks are identified.
- They strengthen the chances of attaining funding and contracts.
- They ensure resources required for the job are allocated correctly.
- They assist in decision-making.
The Benefits Of Using Preliminary Estimates
Although preliminary estimates aren’t as accurate as other estimation forms, they have benefits that aid us in project planning we can’t ignore. See some of them below.
- Approximate costs and pricing are outlined to our clients before any concrete bids have gone to contractors.
- The project budget is managed better than it would be without the preliminary estimation.
- They help clients make more informed decisions about their projects.
- Early discussions with potential stakeholders can be had to negotiate price and material deals.
Where Can You Find Out More Information About Mo Engineers’ Preliminary Estimates?
Are you ready to bring your project to life? Take the next step by reaching out to us today for an exclusive preliminary estimate quote through our contact us section on our homepage. Remember, every great piece of construction starts with a vision.