Preliminary Estimates

Accurate Top Estimating’s Offers

Preliminary Estimates

01.

< class="gt3-core-imagebox-title"> ROUGH ORDER MAGNITUDE ESTIMATE >

The first attempt to estimate in the project’s lifecycle is regarded as a rough order magnitude estimate or ROM.

02.

< class="gt3-core-imagebox-title"> BALLPARK ESTIMATE >

The Ballpark estimate helps contractors by defining the scope of work. It is presented to clients.

03.

< class="gt3-core-imagebox-title"> BUDGET ESTIMATE >

When the project comes at the planning stage, then the budget estimate is done. Generally, it is prepared from past project’s plans and drawings.

04.

< class="gt3-core-imagebox-title"> HOW CAN A PRELIMINARY ESTIMATE FROM ACCURATE TOP ESTIMATING's BENEFIT YOU? >

Our estimates can help you in evaluating the initial cost to support in:

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PRELIMINARY ESTIMATE: WHAT IS IT, AND HOW DOES IT HELP YOU?

A preliminary estimate is also called a conceptual estimate. It is a useful practice in order to determine the project cost before preparing detailed drawing plans. Thus, it provides the economic feasibility of any project prior to construction and development of complete feasibility based on actual prices.

A preliminary estimate helps contractors, real estate developers, home builders, and owners in making decisions for allocating funds, setting the preliminary budget, and comparing initial design alternatives.

When you do not have an actual design of the project, and you need to check the feasibility of your project before going deep into development, then you do it with a preliminary estimate. It is done with historical data of similar projects by adjusting prices, location, sizes, and conceptual additions. An estimator uses all engineering principles to deliver a preliminary estimate, helping project managers to decide the best and suggest the best to their clients.

There are several types of preliminary cost estimates that are employed at various stages in the lifecycle of the project. The accuracy of these estimates depends on the extent of the information provided by the client.

ROUGH ORDER MAGNITUDE ESTIMATE

The first attempt to estimate in the project’s lifecycle is regarded as a rough order magnitude estimate or ROM. It is employed to analyze the feasibility of the project that contributes to the project’s selection and allocation. It has accuracy in the range of -50% to +50%.

BALLPARK ESTIMATE

The Ballpark estimate helps contractors by defining the scope of work. It is presented to clients. So, they can make decisions while remaining under their budget. A Ballpark estimate is done on the basis of preliminary drawings and specifications, and its accuracy lies within 20% of the actual cost.

BUDGET ESTIMATE

When the project comes at the planning stage, then the budget estimate is done. Generally, it is prepared from past project’s plans and drawings. Budget estimate defines the costs associated with the major components of the projects in each line description, including materials and labor costs. Particularly, the budget estimate tells a figure within 10% to 25% of the actual cost of the project.

HOW CAN A PRELIMINARY ESTIMATE FROM ACCURATE TOP ESTIMATING's BENEFIT YOU?

Our estimates can help you in evaluating the initial cost to support in: Managing the budget and getting loans Setting the project cost limit for Architects and designers Getting the idea of probable amount and cost of material and labor. Planning the next phase. Allocating and negotiating with contractors and subcontractors.

WHAT DO YOU GET IN ACCURATE TOP ESTIMATINGS PRELIMINARY ESTIMATE?

The estimate consists of the breakdown of quantities, and the following divisions are considered: Preliminaries Substructures (footings, foundations, etc.) Superstructures (brickwork, walls, sidings, roofs, staircase, floors, doors, windows) External/Internal finishes (flooring, drywall, painting, etc.) Fittings Mechanical (HVAC systems, ductwork, etc.) Plumbing (pipes, drains, fixtures, etc.) Electrical (cable, conduit, lighting, etc.) Labor Man Hours Contingency Project Schedule

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How does Accurate Top Estimating’s, Prepare a Preliminary Estimate?

First, our estimators study and evaluate the information to analyze the scope of the project and produce an estimating plan.
Then, the data of similar past projects is collected.
The adjustments are applied with respect to time, location, and size. A contingency is also applied.
All the specifications, adjustments, assumptions are mentioned in detail.

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Detail of all factors contributing to the right estimate

We modify the project cost to the time of the start of construction because these estimates are calculated two or more years in advance of construction; therefore, the cost must be identified with respect to the future. It is adjusted using a time index, which includes relative inflation or deflation with respect to time due to factors like labor rates, material costs, interest rates, etc.
The anticipated project cost is evaluated with respect to location as the material and labor rates vary in different parts of the country. For this purpose, we employ our location index to national average cost to adjust the bill of material for a particular region or closest capital city.
Project cost is also dependent on the type and size of the project. Here, we apply the size factor, which relates the proposed building area to the typical building area.
The quality of the basic material required in the construction is also considered, e.g., brick veneer, CMU, framed, etc.)

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First of all upload your plans and specify what estimates & take-off do you need for plans. It can be

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Design development
Construction document
Conceptual drawings

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Accurate Top Estimating’s deliver complete and detailed estimation service support for contractors that includes searching a project, analyzing a project, and evaluating the potential profit. Moreover, Quantity Takeoff services support also includes the accurate estimation of costs related to labor, material, equipment, and labor man-hours generally required for preparation of bids, quality control of bids, and procurement.

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Preliminary Estimates

Accurate Top Estimating’s Offers