Construction Operations Technology Promotes Accurate Job Cost Analysis
To present winning construction bids, contractors must have access to accurate job cost analysis. It’s about efficient and accurate collection and analysis of data related to labor, materials, money and time as required to construct a building, expand a building or repair an existing but damaged structure. Construction cost estimates may be wide-focused, covering the total bid for construction of a complete structure, or they may be limited to a single component of the structure. Yet no matter the nature of the project, applied construction operations technology can help contractors win bids while also achieving the primary goal of reaping a decent profit margin.
Functions Critical For Accurate Job Cost Analysis
Having a competent handle on factual job costs is the most important component of reliable and confident construction bidding. Include all the details. Account for the unexpected. Nail the price with accuracy. It’s a simple set of rules that are not always easy to capture. Reliable job costing demands access to many fine-point details – all a critical component for competent conclusions in the following job cost functions.
- Assemble and study the necessary blueprints and other technical documents
- Identify labor, materials, time and other factors that can affect project costs
- Manage collaboration with architects, clients, engineers and sub-contractors
- Simulate the operational process to evaluate the effects of design choices
- Analyze, calculate, adjust and re-analyze individual cost factors
- Examine and compare projected task costs to factual accumulated historic task costs reports
- Establish task-specific timetables
- Identify possible candidates for cost reduction
- Work with sales and management in the crafting of a profitable project cost estimate
- Record actual costs
- Routinely monitor and compare actual costs to estimated costs
- Analyze project finals and craft reports with suggestions to help improve the accuracy of future cost bidding.
Benefits of Applied Construction Operations Technology
When contractors win bids, evidence of accurate job costing comes about only if the final job cost balances well with the estimated projected budget. This means that the estimator, the contractor, production control management and the workforce must have access to reliable communications tools, organizational tools and accounting software. The goal:
- Real-time task and operations tracking
- Integrated data storage, safety management, equipment maintenance and quality control functions
- Quicker access and analysis of current costing details
- AND the integration of data from every component of the job – from labor and materials to overhead and profitability.
Assignar workforce and asset allocation and planning software meets and exceeds the fine points in construction bid estimating. Construction estimators use Assignar construction operations technology to gain quicker access to critical information, including tracking of:
- Bid-hit ratios
- Bid-win project types
- Ideal job size
- Competitor behavior patterns
- Error margins
- Workforce productivity
- Standardized processes
- Minimum profit margins
- AND Accuracy of job costing.
Assignar construction operations technology helps contractors win bids, reap higher profits, remain compliant and ensure smoother overall operations.
