Date Written: 2023-08-30
When pricing construction projects, contractors often decide between quoting square meter/foot rates or preparing full quotations. Let's explore the advantages and potential pitfalls of each approach:
Benefits: Speed, simplicity, flexibility, and transparency.
Risks: Limited accuracy, scope misalignment, unforeseen costs, and unrealistic client expectations.
Benefits: Accuracy, comprehensive assessment, tailored pricing, and better client understanding.
Risks: Time-consuming, complexity, and potential for higher costs.
A potential solution to this dilemma is to invest in an efficient estimating system, such as NextEstimate, which allows for estimates to be created very quickly from pre-built "Smart Templates". The time saved using this approach means that an quotation (or at least an estimated figure) can be provided very quickly. This is a much safer option that providing rates based on the area of a project.