General Construction Estimate Spreadsheet : A Step-By-Step Guide
A general construction estimate spreadsheet helps to organise the overall costs of the construction project into a consistent and reviewable format. The construction estimate spreadsheet helps to cover the direct costs of the construction project, the subcontractors' bids, overhead costs of the project and also the profit markup of the construction project.
The useful general construction estimate spreadsheet is in PDF for client-facing proposals and Excel for calculation and breakdown. The general construction estimate spreadsheet should include a scope summary of the project, a detailed cost breakdown of the project and also include the profit calculation for the project.
A good construction estimate spreadsheet helps to ensure that the estimator does not miss the cost categories and also helps to present the cost breakdown in a format that is clear to the owners and project managers.
Discuss the different types of construction estimate spreadsheets used in the construction project
Preliminary Estimate
The preliminary estimate is the early estimate of the project that has been used to provide a general idea of the project costs. The preliminary estimates have been based on the limited information about the project.
Bid Estimate
The bid estimates have been prepared by the contractors which have been used to submit a bid for the building construction project. The bid estimate includes all direct and indirect costs and the profit margins of the project. The bid estimate should be detailed and accurate to ensure a competitive bid for the construction project.
Detailed Estimate
The detailed estimate has been based on the complete drawings and a thorough understanding of the construction project. The detailed estimate includes the detailed estimations of the labour costs, material costs, equipment costs and overhead costs of the construction project.
Quantity Estimate
This type of estimate has focused on the amount of labour and materials that have been required for the construction project. The quantity estimate is very helpful in creating work packages for the contractors.
Understanding the essential components of the construction estimate spreadsheets
Header section
This section of the general construction estimate spreadsheet includes the name, logo and contact information of the company.
Introduction section
This section helps to describe the project and its objectives briefly.
Detailed cost breakdown section
In this section of the construction estimate spreadsheet, the project estimates have been organised into sections on the basis of the trades or project phases.
Materials and equipment section
In this section, those materials are mentioned in detail which are required for the construction project.
Subcontractors cost section
This section includes the details of any kind of subcontractor work used in the construction project, and it helps to specify the subcontractor services’ costs.
Overhead and profit section
This section helps to state the overhead costs of the project, for example, insurance, administrative expenses, and permits.
Contingency and hidden costs section
In the general construction estimate spreadsheet, a contingency line item has also been added for unforeseen expenses.
Summary and total
In this section, a summary section has been provided, which helps to total all costs of the project from each category.
Terms and conditions section
In this section, all payment terms have been outlined, including the schedule and methods of the construction project. This section also includes any conditions or exclusions that have been applied to the project estimates.
Signature and Approval
This section helps to provide space for the signature and approval dates from the client and the company.
Learn about the key effectiveness of the construction estimate spreadsheets in the construction project
Improve project standardisation
The general construction estimate spreadsheet templates help estimators to ensure that all the project estimates adhere to a uniform structure, which helps to make it easy to compare and analyse the different elements of the projects. This standardisation feature helps to maintain consistency throughout the estimates.
Improving project efficiency
The general construction estimate spreadsheet templates help to provide the categories and placeholders for the project, which helps to guide the project estimators in collecting and organising the project information within a short time.
Improve project accuracy
The general construction estimate spreadsheet templates come with a built-in format for calculations, which helps to minimise project errors and improves the cost estimate’s accuracy. The general construction estimate spreadsheet templates help to sum up the overall costs of the project automatically, which helps to apply the tax rates and also helps to adjust for inflation.
Improved communication
The general construction estimate spreadsheet templates help to make it easy to communicate between the estimators, project stakeholders and other project team members. This feature of the general construction estimate spreadsheet template helps to ensure that project team members understand the overall cost breakdown and the basis of the project estimates.
Maintain comprehensiveness
A well-designed general construction estimate spreadsheet template includes all necessary sections that are required for the construction project. This feature helps to reduce the likelihood of overlooking the essential elements of the building construction project.
Helps in project documentation
The general construction estimate spreadsheet templates help to produce a documented trail regarding the derivation of the estimates. This documentation feature is valuable for future reference of the project and also helps to audit the project costs for the clients or regulatory bodies.
