ConstructConnect Blog

What is construction cost estimating? How can you estimate the cost of construction? There are several types of construction cost estimates. There are also tools you can use to help estimate construction costs. So, how do you create the best construction cost estimates during takeoff? First, you must learn the steps of being a construction cost estimator. Projects with high amounts of dollars, resources, and jobs require accurate cost estimates. The most important thing is to win the bid.

Construction estimating is one of the most challenging, yet important jobs in our industry. Profits are won or lost based on how accurate your construction estimates are and how closely they match your final project costs. Chances are one wrong estimate on a construction project that loses money won’t put you out of business, but a couple of unprofitable projects may have you closing the doors for good. Here’s a look at some of the most common construction estimating mistakes and how to prevent them.

Federal government construction project contracts are a great way for commercial construction firms to make money. The total construction spending from all government levels totaled $476 billion in 2023. That’s almost a 25% increase from $383 billion in 2022. 

Raise your hand if you want to win more construction bids this year.

Companies that meet the criteria of a disadvantaged business enterprise (DBE) are highly sought after on government bidding sites. When trying to stay competitive and profitable as a DBE, it is advantageous to go after these types of contracts; if not, you could leave money on the table. Especially when working in larger markets, where inclusion is a priority, your chances of being selected increase significantly if you qualify as a DBE.

Expand Your Network, Grow Your Profit

Each year, Customer Service Week is observed as a global celebration of the importance of customer service and those who dedicate their careers to supporting customers each day. Although it is just one week, observed this year from October 2-6, here at ConstructConnect we rally around a shared commitment to “Deliver Customer Value” every day throughout the year.

NextGen is a group of dedicated individuals and professionals from ConstructConnect that are committed to inspiring the next generation of youth to consider and join the construction workforce. With a nationwide labor shortage and a frightening gap between the demand for workers and the number of qualified people searching for construction jobs, action must be taken to encourage students to enter this lucrative and diverse workforce.

As a general contractor, you have to be selective when it comes to the subcontractors you work with. You want to choose companies that have a dependable skilled workforce, strong management, financial stability, and can perform quality work to your company’s standards. To do this, you need to have an established subcontractor prequalification process in place. As with any business decision, picking subcontractors to work with requires you to do your due diligence. You should be prequalifying every subcontractor you’re considering working with to reduce risks that could impact your business, such as subcontractor default or substandard work.

For the second time in 2023, ConstructConnect is being named one of Comparably’s Best Places to Work. This time, ConstructConnect is honored to be among the winners of the awards for “Best Leadership Teams” and “Best CEOs for Women.”