Save 10% of the cost of your construction project by avoiding rework with the help of estimating software.
Rework is the unnecessary process of redoing tasks that were done incorrectly in the first place. This wastes valuable time and resources and it can have a major impact on the construction bidding process.
To avoid unwanted rework, and to make sure that your bids are accurate, you should use specialised construction estimating software. This can help to achieve consistently solid results with greater efficiency so that you can win more bids.
What is construction bidding?
Before any building gets underway, the pre-construction bidding process takes place. This is where a contractor sends a proposal and cost estimate for a building project to a prospective client. Those looking for a contractor to handle their project will go through different bids to see which contractor can offer the kind of service and price that is suitable for them. So, as a contractor, the goal is to win the bid and take control of the project.
For the bidding process to be a success, the proposal needs to be professionally compiled, efficient, accurate and in line with the contractor’s capacity and the client’s requirements. Offering inaccurate or overly-optimistic bids can result in unwanted surprises during the job. You also want a well-structured bid to give you more control and make the entire construction process more streamlined.
While the bidding process is often done manually, using specialised construction estimating software can help to achieve the most accurate and efficient results.
How to be successful in the construction bidding process
Being able to provide an accurate bid is the first step to becoming a successful contractor. So, here are some key elements to consider when putting together bids that will win you the project.
Creating an accurate bid is possibly the most important aspect of this process. To avoid any inaccuracies, all the construction documents in the bid package need thorough reviewing. This helps to make sure that you have met all the necessary requests and specifications.
It’s a common mistake to rush through this process in order to meet a tight deadline. But in doing so, you risk mistakes, expensive mistakes!
You should put a good reviewing system in place so that you can review your proposal requests carefully. It may also be a good idea to keep a checklist of common items to look out for in the project specifications.
Make Sure Your Predicted Costs, Productions and Quantifications Are Accurate
There are many different formulas and calculations that go into the construction bidding process. To determine an accurate cost estimate, these calculations need to be as watertight as possible. Having incorrect calculations or making assumptions can lead to reworking the bid, losing the client and losing a lot of money.
By using estimating software you can ensure that this never happens! Simply ensure you have accurately inputted resource data, quantification and productivity and software like C5 will take care of providing you the analysis and information required to bid with confidence and control your project, from conception to conclusion
Another trick to successful bidding is getting into a consistent process using consistent data sets. Keeping your coding, format, costs, formulas and processes consistent can help to achieve more accurate and efficient bids. This can also make collaboration easier and allow clients to better understand your way of working.
Again, using estimating software is one of the best ways to achieve total consistency throughout the bidding process. It allows you to follow a standardised process based on First Principles Estimating. So, you can create winning bids every time!
Use Past Data
Having an existing database of past bids helps to make the process much more efficient. This saves the estimator from piecing together data from different spreadsheets that aren’t connected. Cloud-based solutions keep all data in one easily accessible location. This saves plenty of time and effort and creates a more suitable environment for collaboration.
Understand the Project Site
Not visiting or inspecting the building site can lead to inaccurate bids. Before starting the construction bidding process, contractors need to visit the site. Specialised equipment and certain tasks can be overlooked if the site wasn’t visited before the bid.
Mastering the process with better, faster, more accurate bids
Streamlining the construction bidding process is possible thanks to software like Candy Cloud. With cloud-based estimating software, you can access information faster, create more consistent and accurate calculations, and manage the bidding process with greater efficiency.
Accurate and efficient bids are key to enhancing any construction business. So, using smart software is one of the most effective ways of improving and mastering the bidding process.