Preparing an estimates
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Preparation of an Estimate
Many Contractors prefer to price their projects using Labour, Plant and Materials rather than composite rates applied to a bill of quantities document.
In such condition, a plastering / dry lining Sub Contractor for example might need to price a project through a drawing he received electronically from a Main Contractor. Generally, the small Sub Contractor does not have printing facilities at their offices above A4, and are also generally unable to quantify the work from the drawings provided due to their lack of an Estimating Department this is where we come in.
Upon receipt of the drawings (received electronically or hard copy through the post), we issue a formal lump sum quotation based on our standard day rate of #### + VAT. Upon acceptance of our offer, our team prepare a 'take-off' for quantities applicable to the work of client, then split Labour, Plant and Materials down i.e. 5 shifts @ #### per shift + plasterboard per sheet etc. & overheads and profit @ 15% for example.
Using this approach the Contractor has greater control over their costs once the project is on site, they are aware that a certain activity has a limited duration allocated to it in order to complete the work and acquire desired profit margins, otherwise increased cost eats into profit.