Estimating Like a Pro: What Contractors Need to Know

Estimating Like a Pro: What Contractors Need to Know

Learning Objective

At the end of the lesson, you will be able to identify the key information a contractor needs to find out before producing an estimate.

Introduce the learning objective and explain why it is important.

What do you already know about producing estimates as a contractor?

Scope of Work

The contractor needs to understand the scope of work involved in the project.

Explain what 'scope of work' means and why it is important to consider.

Why is a scope of work important for contractors producing estimates?

1. It helps them secure funding for the project
2. It helps them avoid paying taxes
3. It ensures they will win the project bid
4. It helps them accurately estimate the cost and timeline of the project

What is the purpose of a scope of work?

1. To promote team bonding
2. To increase costs
3. To clearly define the work to be done and avoid misunderstandings
4. To reduce project timelines

Project Requirements

The contractor needs to know the specific requirements of the project, such as materials, labor, and equipment.

Explain why understanding project requirements is important and give examples.

Timeframe

The contractor needs to know the project timeline and any deadlines involved.

Explain why understanding the project timeline is important and give examples.

Site Conditions

The contractor needs to visit the project site to assess any possible site conditions that could affect the estimate.

Explain why site conditions are important and give examples. Encourage students to think of specific site conditions that could affect an estimate.

Labor Costs

The contractor needs to know the cost of labor involved in the project.

Explain why understanding labor costs is important and give examples. Encourage students to think of factors that could affect labor costs.

Material Costs

The contractor needs to know the cost of materials involved in the project.

Explain why understanding material costs is important and give examples. Encourage students to think of factors that could affect material costs.

Overhead Costs

The contractor needs to calculate any overhead costs involved in the project, such as insurance and equipment maintenance.

Explain what 'overhead costs' means and why it is important to consider. Encourage students to think of other overhead costs that could affect an estimate.

Putting It All Together

The contractor needs to use all of this information to create an accurate estimate for the project.

Summarize the key points of the lesson and explain how contractors use this information to create an estimate. Encourage students to ask any final questions they may have.

Write down 3 things you learned in this lesson.

Have students enter three things they learned in this lesson. With this they can indicate their own learning efficiency of this lesson.

Write down 2 things you want to know more about.

Here, students enter two things they would like to know more about. This not only increases involvement, but also gives them more ownership.

Ask 1 question about something you haven't quite understood yet.

The students indicate here (in question form) with which part of the material they still have difficulty. For the teacher, this not only provides insight into the extent to which the students understand/master the material, but also a good starting point for the next lesson.