It is very important for contractors and subcontractors to find talented construction estimators because, without any doubt, estimators play an important role in providing the right estimate of the cost involved in the construction project. Those people are able to work operate under different specific job titles that include construction estimator, cost analyst, chief estimator, or cost consultant. One thing that is common in their responsibility to work is how much it will cost to complete a construction project for providing any service.
It is important to note that the estimators are able to work in different industries that will include the estimation in new product development in manufacturing and for the project management in the different fields.
They are very important and they are prevalent in the field of construction. However, finding talented estimators is very much important for the success of your firm. It is a common thing that sometimes you have to face a situation of labor shortage due to many reasons. But the shortage should not come in between the work and there should be no delay. So, it is very important for the business to hire the best estimator to complete their work on time.
In the following blog, we are going to discuss the things that are needed to find out the talented estimator during the labor shortage:
Why Find a Talented Construction Estimator?
For beginning the process, getting an accurate cost estimate is playing a crucial role in the biding process. The major reason to find a construction estimator is the need for finding estimators during the labor shortage. It is important to note that the cost included in the construction project is very much essential for different reasons. This will be applicable for everyone even if you are a small-scale construction bidding form or multi-million-dollar projects or even a freelance tradesman that is looking secures a small job. It is a very common thing that you and the client want to get a very clear idea about the overall cost of the project before they are going to start the project or they get the services needed during the construction process.
The size of a project really matters when you are going for the estimate. If the project is bigger, then the focus on the cost will be more. Remember that an experienced roofer will be able to identify the cost of materials and labor for a small individual job. But when we are going to talk about the complex project, then we have to add labor costs into the overall procedure and it became very important for us to hire a skilled commercial estimator who can handle all the things very carefully without any problem. Right estimation is the key to kick start the project after knowing the cost involved.
Note that there is no reason to cost at a low estimate for securing the contract but also to get the right and accurate estimate. For instance, In the UK, one of the biggest construction companies called as Carillion collapsed. The reason behind the collapse was very many but most of the reports suggested that the low bidding in order to get more contracts was one of the important reasons as compared to other reasons.
There is no doubt an accurate estimate will help you to get the job but you need to keep the realistic margin in your mind to get the job done on time and properly. The estimation of costs and materials also play a big role in the take-off process that allows teams to order in the right materials and in the right quantities along with the securing of subcontractors that you will need during the project. If this happens, then this will help the project to take off on time it will run smoothly until it is completed.
Role of the Construction Cost Estimator
The residential building estimators will be collecting and analyzing the relevant data that is needed to provide a complete costing. It will also include the estimated time, material, and labor resources that are needed to construct a building or completing a project. This will be providing managers the details that they need to formulate a competitive and realistic bid for a project. It is a delicate balance, so this should be handled by properly trained professionals to get the work done right!
To do this all, you will identify and analyze the factors that will affect the costs. This will be including material and equipment requirements, production time, and labor. Furthermore, the construction cost estimator should be able to understand the technical documentation and they will coordinate with the architects and designers. Note that the estimators will be working in several different areas whereas some will have specialization in particular vocations like electrical and wiring circuits.
In addition to the assessment of current labor and material costs, the construction estimator will need to take a number of variable factors into an account that includes the acknowledging allowances for the poor weather conditions postponing work, wasted materials, and shipping delays.
Meeting Demand for Estimators During the Labor Shortage
According to the Bureau of Labor Statistics (BLS), the jobs for cost estimators within the construction industry will be growing to 11% between the years 2016 to 2026 nationwide. These numbers represent a faster average growth for all the occupations because companies need accurate cost estimates for ensuring that they operate cost-effectively. It is important to note that the predictions show that 23,000 new jobs will be available in the industry within the same timescale.
The industries that are having the highest published levels of employment for estimators were the building equipment contractors, non-residential building construction, foundation, structure, building exterior contractors building finishing contractors, and residential building construction.
In addition to this, the employment levels, wages, and employment density present in them are also different depending on the state. It is interesting to note that the highest level of employment for this role was 27,550 while Virginia is having the highest concentration that is 2.39 per thousand jobs in the industry. The employers in the District of Columbia will be paid the highest wages that are approximately $89,570.
How to Find Talented Construction Estimators?
When you are going to find the talented construction estimator, then you need to find out the estimators that are having certain skills and knowledge. Some of the general skills should be as follows:
- The person should be having experience in collecting historical data to estimate the costs for projects.
- They should be able to consult with clients, persons in other departments, construction foremen, and vendors for solving problems.
- The person should be able to prepare any estimates used by management for scheduling work, planning, and organizing.
- They should be able to analyze technical documentation or the blueprints for preparing time, labor, cost, and material estimates.
- The estimator should be able to work with engineers, architects, owners, contractors, and vendors for changing and making adjustments to estimates.
- The person should be having technology skills that should be estimating software, accounting software, and project management software experience.
- There should be a strong mathematical competency, reading comprehension, critical thinking skills, and good decision-making skills.
- The hiring should be done depending on the scope of the project or an ongoing role. You need to hire a person having a specific experience.
Looking to engage with an estimator? The pay you offer should be competitive and should be given the relative scarcity of talented people working in this role. Remuneration will definitely be vary depending on the wide range of factors that include the skills, experience, nature of the project or ongoing job. According to the BLS, the mean annual wage for a cost estimator working in the construction industry in May 2017 was $68,420. This means that the hourly wage was $32.90.
For your information, the construction cost estimators will be holding a bachelor’s degree in an industry-related field that includes construction management or engineering. The estimator will have received on-the-job training and an experienced estimator will be well-versed with the industry-specific platforms and software. This will be including Computer-Aided Design (CAD), Building Information Modelling (BIM), spreadsheets, databases, and specialist cost-estimating software.
Note that there is a number of key qualities and skills that include strong analytical skills, an eye for the details, a methodical approach, strong mathematical skills, and time-management skills to meet deadlines. Moreover, they also need to present their reports in a concise way so that they need to have strong communication skills.
There is no secret that finding a talented estimator in the construction industry is very challenging. Sometimes, due to the shortage of professionals across the industry, the hiring of the experts become very challenging. Moreover, if you are not having the time to look for building estimators, then you can get in touch with recruiting agencies to get help. They will know your requirements and will help you in finding the right candidate for your company as per the job responsibilities.
Moreover, if you are still in search of finding the accurate estimate for your construction project is it commercial or residential, get in touch with a professional cost estimating company near to you for the best service. An expert company will be using the latest software to provide you the right estimate on time. After this, you can decide about starting your construction project.