111 A Simple Formula for Better Construction Estimates

Our deep thoughts for construction estimators are brought to us this week by Norm Foster in his book, first published in 1961, Construction Estimates from Take-off to Bid. In this helpful book, Mr. Foster reminds contractors that, “A good estimate is built around a good set of quantities and a proper feeling for cost, rather than being a by-product of statistics.” This is the nexus between the art and the science of construction estimating. If you want better outcomes from your construction estimates, focus on “a good set of quantities” This aligns with what we have termed “Thorough Data Capture” or TDC and “a proper feeling for cost” which mirrors what we have termed “Accurate Data Input” or ADI. Stick around as we discuss a simple formula for better construction estimates. IN EPISODE 111 of The DYOJO Podcast 0:00 Deep thoughts for construction estimators2:47 Career growth tips with Nicole Humber 4:48 Learning from restoration history with Cliff Zlotnik 11:48 Three critical elements of a construction project 16:45 The importance of communication 21:37 All estimates are data-driven 28:01 Simplifying the estimating process Thursdays are for The DYOJO Podcast - helping contractors shorten their DANG learning curve. Join host Jon Isaacson as we explore contractor stories, experiences, and best practices to help listeners thrive in the skilled trades. THANK YOU SPONSORS: EPIC Estimates - Any estimate, anywhere, anytime. Let the award-winning EPIC Estimates help your team write the next Xactimate or Symbility estimate. Freeing your team up to do what their good at, while helping your business maximize productivity and profitability. Restoration Industry Association (RIA) - Connect and collaborate with your industry peers through the largest non-profit professional trade association dedicated to the unique plight of restoration contractors. Join us April 8-10, 2024 in Dallas for the Restoration Industry Association Convention and Industry Expo. Discounts are available for early registration. Washington Business Brokers partners with business owners to confidentially explore selling their business with discreet, objective counsel and insight into market activity and comparable private transactions. Encircle - The only all-in-one field documentation solution. Visually document and present high-quality reports, so there are no questions asked. Their floorplan tool now integrates with Xactimate to create an ESX for estimating. So, You Want To Be A Project Manager? The third book from Jon Isaacson was written to help those wanting to advance their careers in the skilled trades. This book covers the mindsets and habits for construction project management with an emphasis on property restoration. MUSIC Theme - It's Only Worth It If You Work For It by NEFFEX