The process of electrical contracting includes providing an estimate and submitting bids to win construction projects and sustain your presence in the business. It relatively means that bidding is low enough to score a good job against competing electrical contractors to perform effective electrical takeoff services with project costs including labor, material, subcontractors, equipment rentals, and indirect costs to run your construction business.
Try not to include enough profit and take the risk to grow a construction business. Below are the few common steps that maintain or outline an electrical estimating system to assist you in starting a construction business.
- Opt for an appropriate work to Bid
- Review the drawings and specifications
- Effectively perform a quantity takeoff
- Create an estimate
- Add Profit and Overhead
- Cross-check your takeoff quantities and estimate
- Submit Bid and analyze results
Opt an appropriate work to bid while performing electrical takeoff services
It is essential to select an appropriate type of work to bid before dealing with electrical takeoff services. Suppose you have limited experience and knowledge about electrical estimating, then try to restrict yourself to avoid dealing with electrical projects. Otherwise, it will make different mistakes during estimating and project execution to win the electrical construction project.
Review of Drawings and Specifications
Every estimating, either its construction takeoff services or electrical takeoff services, try to make yourself capable enough to thoroughly review Division 1 with different general specifications and division 26 specifications. It allows paying close attention to proceed with contractor qualifications, payment terms, insurance requirements, bonding capacity and meet the qualifications with legal language to win a construction project.
Try to inspect the construction drawings at a higher level to deal with the idea of the full scope of work during electrical estimating services. It efficiently reviews architecture to the electrical drawings that understand to work with heights and elevations that affect labor costs, material pricing and different equipment requirements. It will allow the general construction to review the division with technical details to analyze discrepancies between the drawings and specifications for construction takeoff services.
Effectively perform a quantity takeoff
Utilize the modern electrical takeoff software to perform a quantity takeoff and start counting and measuring different items that depict the electrical drawings like light fixtures, receptacles, conduit runs, panels and gear. Try to begin with one particular item and count different items sheet by sheet to sustain totals per sheet before moving towards the next item.
Try to explore things you missed earlier to count and adjust the previously noted quantity to perform your quantities for different sheets and move to a quantity takeoff sheet.
Create an estimate to start a construction business
Try to manage different construction quantities that lie to demand and determine a certain unit cost for different construction items. Creating a construction estimate demand to determine the material and labor associated with different tasks extends task quantity. Examine the material costs that are simple, quick with supplier or pricing services to deliver data with the labor costs that require the estimated time to install the material.
A labor unit examined industrial electrical estimating to multiply and burdened the labor cost and examine the labor cost for different certified tasks. A quantity takeoff sheet for an industrial project includes material and labor costs per task with a collective summarization. Try to summarize the total material and labor costs for different items to multiply labor hours to burdened hourly labor costs to get total labor costs for specific tasks.
Add profit and overhead during electrical takeoff services
We have a comprehensive estimated cost while dealing with industrial electrical estimating that demands to add profit and overhead in our estimated job cost. Our construction profit is quite self-explanatory with overhead that deals with a total of other indirect expenses that demand to run your construction business, including office lease, estimating, marketing, sales, bookkeepers, and other expenses to sustain your business operations.
Overhead shows a percentage that adds to the project costs to land at different sales prices with small contractors to believe not having overhead and not charging either its correct or not correct. Try to figure out the overhead to run your small business with an accountant that efficiently specializes in a construction project.
Cross-check your takeoff quantities and estimates
After generating a reliable estimate through electrical takeoff services, it is productive to double-check your final estimates through expert electrical estimators, review your construction work before submitting your Bid, and ensure that nothing gets missed. Its review involves a counterpart to takeoff the project’s major systems and ensures not to miss anything during an original takeoff.
It is suggested to sustain a bid log that displays recent and successful completion of projects through size and type with the price per sq. ft. Try not to never bid on projects to start a construction business. Compare your previously completed construction projects against any current project to analyze whether there is a variance in price or not.
Submit bids and analyze reviews
After double examining your work, submit your Bid within a specific time while dealing with electrical estimating services. Now everyone submits bids electronically through the bid site that efficiently receives the Bid through an email. Try to completely analyze the division 01 specifications again and again to introspect bid instructions.
While losing a construction project, try to have an efficient idea to inquire the general contractor to stack up against the competitions that deliver the bid tabs among different competitors for electrical takeoff services. Try to act respectfully and receive productive feedback to request bid tabs on different construction awarded projects to inspect either a contractor leaving its amount or Bid in a minute amount.