Design teams must be aware that project managers will be very careful with their budgets. They’ll pay close attention to bids from different contractors to avoid going over budget. Thus, in the bidding process, it is important for a design team to have an accurate cost estimate in order to avoid bidding too low nor too high. A bid that’s’ too low could eventually find the team suffering from a deficit, while one that’s too high could cost them the contract, and even future chances for bidding. Accurate estimates are thus highly essential, but involves a high level of complexity, and may be time-consuming.
The good news is that you can find expert support in coming up with accurate estimates. A trustworthy construction cost estimator will give you better chances of turning in a successful bid; but, just like in any field, not all estimators are the same. Your choice will be crucial to your team’s success.