How to Make a Construction Cost Estimate in Microsoft Word
In constructing whether a building, house, or hotel, you need to have the estimated cost for it to be successful. Estimating construction costs is quite tricky. Based on Chron, the architect or contractor needs to prepare first the detailed costs to their clients before the construction begins. Hence, you are planning to make one, scan, and read the guidelines below to create a well-detailed and valuable construction estimate. See below.
1. Use a Checklist
Before you start, plan everything and write it on a checklist. With a checklist, forgetting steps and the materials needed are in a low possibility. List down all the required materials before you start the construction of a house or a building. This way, you can quickly identify what materials are needed the most to build a home. Having a checklist can make your work easier and lessens the time you might consume in planning the other details.
2. Determine the Estimated Cost
After you plan everything, list down all the materials needed for the construction. Identify all those materials from smallest to biggest. Indicate with them the possible prices of each item and total everything after you computed it. The total of it all can help you identify the estimated cost of the construction. Determining the estimated cost can help you in budgeting and determining the total money you needed to build up a house or a company building. Also, pay attention to the aspects that can affect in estimating the cost for the construction.
3. Identify the Possible Risks
In construction, you cannot deny the fact that there are some risks and malfunction happens while the project is on-going. For you to avoid it when the time comes, you already determine those risks, and a contingency plan is ready for that. As an aid, you can estimate the accuracy and budget for the materials you need to buy. For example, the equipment does not function and needs to be checked by the mechanic. As a result, the budget intended for that project might not be enough due to the malfunction of the equipment.
4. Check Your Supplier
Before you finally start the construction, visit first the supplier of your materials for the reason that they can suggest what materials are good to use and that will fit in the building you want to construct. Also, they can help you in supervising while you choose materials for your project. They can suggest materials that are durable and long-lasting that fit your budget plan. Plus, to know if they have all the materials you need when the construction started.
5. Propose Your Construction Cost Estimate
After you sort and finalize everything, propose your construction cost estimate to your client. You can print and produce copies, but make sure to use a good quality of printing paper for a better outcome. Also, you can save it on a Universal Serial Bus (USB) in case you need to change the business plan and cost estimating you first proposed.