Review project plans, specifications, and related documents.
Understand the scope of work, deliverables, and client expectations.
Conduct site visits (if required) to assess potential challenges and factors affecting cost.
2.
Quantity Take-Off (QTO)
Measure and quantify materials, labor, and equipment needed.
Use software tools like Bluebeam, Planswift, or AutoCAD to extract quantities.
3.
Cost Estimation
Source and analyze prices for materials, labor rates, and equipment rentals.
Collaborate with suppliers and subcontractors for pricing.
Apply industry knowledge to predict realistic costs and potential risks.
4.
Bid Preparation
Compile cost data into detailed bid proposals.
Include assumptions, exclusions, and contingencies in bid submissions.
Submit tenders or proposals by deadlines.
5.
Budgeting and Forecasting
Develop internal budgets based on estimate data.
Provide cash flow projections and cost forecasts for project phases.
6.