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Accurate Estimates Drive EC Business Success
As of March 26, 2017

Published on: 
June 12, 2013
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Category: 
Press Release

Operating in an increasingly competitive market, electrical contractors understand that success begins with accurate estimates. Some companies use estimating software; others stick to a manual approach; many more use a combination depending upon the size and scope of the project.

ELECTRI International – The Foundation for Electrical Construction has followed the development of the estimating side of the EC business. The ELECTRI Council recently commissioned a study to examine and evaluate the role of software as a useful platform for performing faster and more accurate estimates.  The second aspect of the study would be to review and highlight some of the effective estimating strategies that contractors have implemented – with or without the software.

Best Practices and Benefits of Estimating Techniques and TechnologyELECTRI has just published Best Practices and Benefits of Estimating Techniques and Technology, conducted by Cindy Menches, Ph.D., P.E. and Stephen Kleps of the Illinois Institute of Technology. The researchers were especially interested in examining and comparing variables that can impact an Electrical Contractor estimate: 

The type of job requiring the estimate and time restrictions to complete the estimate:

  • Structure of the estimating department and characteristics of the estimators
  • Overall company goal(s)
  • Use, partial use, or non-use of the estimating takeoff software

This report details both the benefits of the electrical estimating takeoff software and the obstacles to its implementation. In addition, the Best Practices report reviews strategies that electrical contractors – of varying characteristics – have used to maintain the accuracy and timeliness of their estimates. The detailed findings also help contractors decide if there are new, beneficial approaches that they can take within their estimating department to improve the potential for a successful bid.

The report is available from ELECTRI International at
http://www.electri.org/research/best-practices-and-benefits-estimating-techniques-and-technology