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A lot of businesses deal with various stages that include planning, designing, implementing, budgeting, and more. If you take a look at every single one of them, you will realize how much work it needs to complete a single project. That is why creating estimates is important, it makes sure that the developers know what they're doing and how much resources are needed. To get you started, here are Blank Estimate Templates that you can download in Word and Excel. With these templates, estimating the costs to implement projects and activities will be easier. They're 100% customizable and easily editable, subscribe to our estimate templates now!
An estimate is a written document that contains data on the possible amount of resources for completing a project. Also, an estimate contains formulas needed to accurately compute the data stored in it.
One of the reasons why people get overwhelmed in making an estimate is because of the math involved. The truth is, making a project estimate is easy if you know basic mathematics. Don't believe us? Check out the list below and know how easy it is to make an estimate.
The most important part of an estimate is the data it contains. If there is no reliable data, then there is no reason for making the estimate. Make a list of the deliverables or what is expected from the project. Afterward, start collecting the data to support the deliverables.
Using tables to store the data is the easiest way to organize them. Tabulating the data is best when it comes to calculating variables with significant value, especially for an estimate budget sheet that contains various deliverables. To achieve this, use a spreadsheet for arranging all the data.
The trickiest part of making an estimated expense sheet is the calculations. A single error in the formula could be disastrous as it will yield inaccurate results. Make sure to know what needs to be computed and double-check on the formulas.
A neat and straightforward budget estimate is always good to look at. Remember that the document contains a lot of numbers, and you want your readers to quickly understand the contents. Therefore, use the appropriate font and simple terms.
Formatting can make a big difference in the final outcome of the job estimate. This means you have to be mindful of the spacing, capitalization, punctuations, and structure of the content.
Estimates should contain at least some of the following elements:
Based on the data posted on ZipRecruiter, a recent survey shows that the average hourly rate of a construction estimator in the US ranges from $14.90 to $54.57, with an average of $33. From the same source, they say that estimators earn an average of $68,463 per year.
There are different types of estimators and their assignments depend on the field they specialize in. In the case of constructor estimators, they work on construction projects because they have already mastered the different areas in construction.