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Budget is one of the most important aspects of any construction project, and at A&L Construction, we take the cost estimating process seriously. Builders and clients alike worry about the financial impact of cost overruns—especially when they lead to failure to complete a project. We realize that many times, customers will seek more than one bid for their project, so we do our best to come up with an estimate that is accurate in terms of cost as well as time frame.

Estimating the cost of any project with 100 percent accuracy is impossible, and projects can fail for unforeseen reasons such as supply issues or weather problems. But our skilled estimators will account for as many variable factors as necessary to create an estimate that is accurate all the way to the end of the project.

Overview of the Construction Estimation Process

To understand cost estimation, it’s helpful to understand the basic phases of a building project:

  • Commissioning a project ensures that the builder designs, constructs, and delivers a project according to the customer’s specifications. This part of the process can last for up to a year, depending on the size of the project.
  • The first tangible step in constructing a project is the pre-design phase, which is sometimes called the planning phase. It defines a project’s requirements: function, cost, location, and any legal requirements that must be dealt with.
  • The project owner contracts with an architect. The architect will usually coordinate the design process—unless an engineer is in charge of industrial construction.
  • After working with the project owner to get an overview of the design, the architect will flesh out the details of the design. Estimators will revise cost estimates based on the final design.
  • After construction plans are finalized, contractors are welcome to submit bids. In most cases, the project owner goes with the lowest bidder.
  • Contracts are signed after there has been a decision made on the contractor.
  • The construction phase is supervised by the contractor, who will hire out for specialized tasks needed for the project, such as plumbing, electrical, and foundation work. The contractor will oversee the entire construction process, including controlling costs, comparing estimates to actual expenditures, and hopefully still maintaining a profit.
  • When the structure is close to completion, the contractor will reach out to the architect for a completion inspection. The contractor will give the architect something called a punch list, where any work that still needs to be done is noted.
  • Once the contractor and the construction team completes all the incomplete work included on the punch list, the architect will conduct a final inspection. If all the work has been completed satisfactorily according to the construction drawings and specifications, the architect will formally present a certificate of final completion. At this point, the contractor will receive full payment for the project.

Contact A&L Construction

Ready to get an estimate on your next residential or commercial construction project? Contact A&L Construction today!