Accurate cost estimation is crucial to the success and profitability of every construction project. Considering the cost of materials, labour, and machinery, estimating the total cost of an M&E project is a tedious task. That’s why most contractors look for the best estimating solution to enable MEP estimators to make quick and accurate estimations.
In the past, estimators have manually estimated the cost of construction projects. But now, changes in market dynamics, the rising cost of materials, and the complexity of modern construction have made manual estimates unreliable. This is because calculations can be inefficient, error-prone, and could cause many setbacks and mistakes that could jeopardise the profitability of a project.
This article will focus on the value of integrated managed content within M&E estimating software. It will also highlight the importance and advantages of using MEP pricing software for cost estimations and quotes for M&E projects. Ultimately, we will also point you toward the best estimating solution for the most effective delivery of your next project.
Preview of key points
- Electronic price estimators present an accurate and up-to-date pricing information on materials, labour, and other things needed for a construction project.
- Using an integrated managed content within M&E presents many advantages, including accuracy, consistency and standardisation, real-time pricing, etc.
- Total Estimating and Estimation MEP from Trimble provide a comprehensive estimation for mechanical, electrical, and plumbing (MEP) contractors.
What’s Unique About Having Integrated Managed Content Within Mechanical and Electrical Estimating Software, and Why Should You Use it?
There are many key elements that make up an accurate total price estimation for an MEP project. All high-quality cost estimation software comes with a structured and organised database of components, including up-to-date pricing information on materials, labour, and equipment.
A high-quality MEP estimating software with an integrated managed content database should calculate the following essential elements:
- Cost of materials: These include wood, steel, concrete, electrical and plumbing fittings, etc.
- Cost of machinery and equipment: A good construction pricing software provides an estimate of the price of renting and purchasing machines and equipment.
- Cost of labour: These automated apps calculate workers' wages across different skill sets in the construction industry.
- Costs for subcontractors: You should be able to add an estimate of the amount to pay subcontractors to whom you might outsource some jobs.
Advantages of Using MEP Pricing Software for Estimations
Whether you’re preparing for building construction or an electrical installation project, using an MEP estimating software with integrated managed content presents many benefits over manual estimations and more generic estimating solutions. Some include:
- Accuracy and precision: Construction pricing software uses an automated database that provides up-to-date information on the current and future prices of materials and labour. This minimises the risk of human error and ensures that your estimates are as close to the market prices as possible.
- Consistency and standardisation: Estimators follow standard formulas for their calculations. This ensures consistency in the figures presented across the different aspects of your quote.
- Real-time data: Price of goods and services are dynamic. They change according to market forces, and the best MEP estimating software tracks these changes in real time. So, each estimate will generate figures in line with the prevailing market prices.
- Time efficiency and enhanced productivity: Manual estimation is stressful and time intensive. Using a specialist MEP estimating solution eliminates the stress of making complex calculations, saving you time and giving you a quick and accurate estimation.
- Bid accuracy: This software provides you with a precise and accurate estimation to make a competitive bid. Its clarity also shows the financiers that you did your homework and boosts your chances of getting the contract.
The Benefits of Integrated Managed Content Within Your Mechanical and Electrical Estimating Software
Building an estimation system is of the utmost importance for successful project management. With Estimation MEP, you're not just building another database. Instead, you are provided with a fully managed and integrated item library that comes equipped with material pricing and labour costs. Furthermore, it boasts thousands of readily available assemblies. This state-of-the-art tool ensures you can bid with utmost confidence.
With features such as a fully linked graphical takeoff and up-to-the-minute pricing on hundreds of thousands of items, the possibility of incurring costly errors is significantly reduced, thereby enhancing accuracy. Beyond accurate estimates, profitability remains a key concern for all businesses. Estimation MEP steps up by providing superior estimating management functionalities.
From labour and productivity factoring to flexible work breakdown structures, every aspect is covered. But it doesn't stop there; the platform also allows for the calculation of additional costs, markup, overhead, and offers a comprehensive view of material and labour costs under varying scenarios. This ensures that businesses remain profitable, regardless of the challenges they might encounter.
Get Accurate and Efficient MEP Pricing Estimates with Trimble’s Estimating Portfolio
Every engineer or contractor needs reliable MEP Pricing software to provide a reliable estimate for their upcoming construction projects. At Trimble, we have an estimating solution for everyone. If you’re already using technology to produce estimates and takeoffs, take a look at Total Estimating and Total Estimating+ – they are ideal to help you further improve your workflows and gain more efficiencies. Don’t worry if you’re still using pen and paper or spreadsheets, Estimation MEP is our new, easy-to-use estimating tool for smaller M&E consultants. All of our solutions are hosted in the cloud and come with access to Luckins and collaboration platform Trimble Connect. Take a look at them today! Request a demo now to see how they work.