Cost Estimation Tools: Top Tools for Construction Estimators

The precise Cost Estimation process is a key element in a project’s life. If not conducted properly, it can be stressful, inaccurate, and time-consuming. Additionally, wrong estimates can lead to over-pricing of a bid. It means that a team might lose the project. On the other hand, if an estimator underpins a bid, profit suffers and the client becomes unhappy.

What is the Role of a Cost Estimation Tool?

Tools create precise estimates about resources such as materials and labour. It computes the preciseness of the resources needed while managing a project’s finances. In Cost Estimation Services, the right estimating tool optimizes the whole project.

10 Cost Estimation Tools for Estimators

The right tool gives estimators more control over the project and keeps it streamlined. The following are the best tools to use:

1) Procontractor

Procontractor is a powerful cost estimation tool with many features. Also, perform estimations quickly, create bids for contractors, and track expenses. It allows an estimator to calculate needed resources from scratch. It can integrate with accounting and CRM software. The following are the top features :

• Spending on expenses is improved to get a clear picture
• Provides constant reviewing that mitigates risks
• Generates reports daily which helps in managing costs
• creates more than one medium for communication
• Keeps a schedule of tasks and keeps track of them
• One platform access of data for all

2) Planswift Cost Estimation Tool

If a professional wants something adaptable and easy to implement, planswift is the right tool. This tool is versatile and can be applied to any part of the construction process.. Also, it can measure areas or wall angles with just a click. Other useful features are :

• Efficient project management and compliance with standards
• Provides the most appropriate information when needed
• Makes the process of estimation smooth with cost-effective techniques

3) Clear Estimates

It can evaluate project costs and turn estimates into proposals. A cloud-based tool that allows an expert to perform estimates from anywhere. It has an up-to-date pricing database as well. This tool integrates with other software like CRM, CAD, and accounting systems. Some top traits of this tool are:

• Speedy Estimates
• widely used throughout the United States
• more than 60 templates

4) B2W Cost Estimation Tool

If there is a heavy construction project, B2W can be a game-changer, making bidding and estimating processes more effective and profitable. Indeed, this tool is specifically designed to streamline the management of large-scale undertakings. Moreover, its versatility shines through its applicability to various sectors, including civil contracting, land and site development, sustainable energy, and transportation. Consequently, some of its standout features are:

Scheduling

• Dispatching
• Equipment maintenance
• Field data collection
• Centralized resources database
• Ability to perform extensive reviewing and analysis

5) Sage Estimating

B2W is undeniably one of the best pricing tools available for the cost estimation process. It boasts an extensive pricing database encompassing a comprehensive list of materials, contractors, and suppliers. This robust resource empowers estimators to efficiently gather up-to-date information at the outset of a project. Furthermore, several other key features include:

• User-friendly interface
• effective time management
• ability to create quality reports quickly

6) Active Take – Off

On-premises Cost Estimation tool. Widely used among project managers, finishing contractors, and builders. It can conduct takeoff services with the highest accuracy. It integrates with both spreadsheets and Excel. The top features of this tool are:

• Performs detailed takeoff and estimating services
• Templates can be customized
• Measurements can be done in metric and imperial units

7) ArchDesk

A Cost Estimation tool that mainly covers the management of the whole project. This tool is highly customizable to fit your project’s specific needs. It functions as both a management and financial tool, allowing seamless integration with your existing management and financial software. See the features below.

Management features:

• Task management
• Bid Management
• Buyer management
• Order management
• Communication and compliance management

Financial Features:

• Cost database, estimating and tracking
• Analysis of finances
• Billing and invoicing
• Audit trail

8) Expert Estimations

Indeed Professional software for companies that want to streamline their Construction Estimation Services. Some of the main features are:

• Create bids very quickly
• Collaboration tools
• Project tracking and can handle multiple projects
• Efficient development of proposals

9) Builder trend

A most favorable tool in residential construction projects. Home builders and remodelers primarily use this tool. By using this software, builders can manage all of the following on a single platform:

• Tasks
• sales
• Financial activities

~Materials

~ Client relationship

Its main features are :

• Budget control, management, and tracking
• Client Portal
• Cost-to-completion tracking

10) ProEst

A cloud-based cost estimation tool that offers automated features for all sizes of construction companies. It provides a centralized platform to monitor and manage the following:

~ Cost estimates

~ Takeoff services

~Analysis reports

• contracts
• Electronic plans
• historical database
• Project tracking

SMA Estimating LLC professionals apply the most suitable tools according to the specifications of a project. Ensuring the project remains on the right track until completion.

Conclusion

In the end, it matters what Cost Estimation tools a professional uses. Choosing the right tool can enhance the productivity of a project. On the other hand, if proper tools are not incorporated in the estimation process. It can derail the project from the very start. It can result in a waste of expenses and time. The 10 most popular software are discussed for the estimation process. Their performance ensures that the project is streamlined from the initial stages.