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Understanding Cost Estimating
Construction cost estimating involves predicting the expenses required to complete a building project. Both clients and contractors are naturally concerned about the risks of cost overruns or incomplete work.
For large-scale projects, clients often request multiple estimates, including those prepared by contractors and independent estimators, to gain a clear understanding of potential costs.
Project owners rely on these estimates to define project scope, assess feasibility, and allocate budgets effectively. Contractors use them to make informed decisions on whether to bid. Estimates are typically prepared in collaboration with architects and engineers to ensure the project meets both financial feasibility and design requirements.
Types of Cost Estimates
Different Types of Construction Cost Estimates we offer
Superior Estimation classifies cost estimates into three main categories, each serving a specific purpose: design, bid, and control. To establish project financing, the process begins with either a design estimate or a bid estimate, providing a solid foundation for budgeting and planning.
Superior Estimation provides comprehensive design-phase estimating services, including screening (order-of-magnitude) estimates, preliminary (conceptual) estimates, detailed (definitive) estimates, and engineer’s estimates. These cost evaluations are developed in parallel with the planning and design process to support informed decision-making at every stage of the project lifecycle.
- Design Estimates
- Screening estimates
- Engineer’s estimates (based on specifications and architectural plans).
- Preliminary cost estimates
Superior Estimation prepares bid estimates for investors to support competitive bidding or general negotiation. Our estimates account for direct construction costs, including field supervision, and incorporate a markup to cover general overhead and profit. Direct construction costs are calculated using subcontractor quotations, detailed quantity takeoffs, and established construction procedures, ensuring accuracy and reliability in every bid.
Superior Estimation provides control estimates to help monitor and manage project costs throughout the construction process. A control estimate establishes the initial budget for financing, sets the budgeted cost prior to construction, and tracks the estimated cost of completion as the project progresses, ensuring accurate financial oversight at every stage.
- Budget cost estimate for financing purposes.
- Budgeted cost after assigning to contractor but before construction.
- Estimated cost of completion during ongoing construction.
Why Cost Estimation Matters
The Requirement for Construction Cost Estimation Services
As construction project delivery methods continue to evolve, Superior Estimation offers a wide range of construction cost estimation services. With extensive experience and proven expertise, our team is fully equipped to provide the following services, among others:
- Building Cost Estimation.
- Residential Construction Cost Estimation
- To estimate project construction budgets.
- To establish financing requirements.
- Establish whether a proposed new construction plan is profitable or not.
Our work process
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Residential Estimates
Residential Estimates
Commercial Estimates
Civil Estimates
MEP Estimates
Masonry & concrete Estimates
Other Specialty Estimates
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At Superior Estimation, we focus on building long-term partnerships with our clients and are dedicated to complete customer satisfaction. We look forward to learning about your next project and helping you achieve success.