Improving bidding accuracy with construction takeoffs is critical for ensuring your bids are competitive and profitable. Accurate takeoffs help prevent underbidding or overbidding, reducing the risk of project losses. Let’s explore some key strategies to improve bidding accuracy.
Takeoff support is the key to accurate bids.
Take advantage of specialized construction takeoff support (like Takeoff Monkey). These resources can speed up the takeoff process, produce accurate documents, and help you achieve more reliable estimates. Choose tools that integrate with your estimating software for seamless data transfer and better overall bid accuracy.
When creating a construction takeoff, ensure you send experts all of the source materials you have.
Your takeoff specialists can cross-reference your takeoff data from different sources, like design plans, architectural drawings, and structural drawings. This process ensures takeoff accuracy, leading to the best possible bids for your construction projects.
Even the latest and greatest takeoff software can make mistakes. It is essential that a qualified expert always double-check the measurements for each component of the project. It’s easy to overlook minor details, and these mistakes can add up.
For example, if you are using a construction takeoff that has miscalculated the proportions of a building, what might seem like a small difference in materials will grow exponentially when corrected throughout the project’s landscape.
This is why Takeoff Monkey has two experienced professionals review every takeoff we complete before delivering them to our clients.
Construction documents can feel overwhelming, which makes it easy to miss costly oversights.
It is helpful to review the material takeoff and labor costs (both jointly and separately) to get a clear picture of your bid. This process can help you understand where you’re spending the most time and money, ensuring the bid will yield a profitable and successful project worthy of your company’s resources.
While the takeoff includes a breakdown of materials, it is essential that you account for all overhead costs in your estimate. For example, many businesses forget to adjust their bids to growing expenses like insurance, bonding, warehousing, and general administrative costs. Additionally, ensure you factor in a reasonable profit margin based on your experience, the project’s complexity, your business’s reputation, and any potential risks.
While construction takeoffs offer a black-and-white view of the materials needed, the risks associated with those materials can affect project margins.
After reviewing your takeoff, identify potential risks and contingencies (weather, labor strikes, and material shortages) that could affect costs. For example, material or labor costs can vary seasonally in some areas. You may also consider the risks of hurricane season, winter storms, or dangerous heat waves — depending on your region and the project’s timing.
Account for these risks in your bid by adding contingency amounts, adjusting for anticipated fluctuations, or adjusting other project components (like the timeline).
By considering these strategies in your bid, you can significantly improve the accuracy of your construction takeoffs, leading to better bids, more profitable projects, and a strong reputation in the industry.
When you need quick, accurate, and reliable construction takeoffs, turn to the experts at Takeoff Monkey. With our industry-leading technology and hands-on expert support, we provide results you can trust. We invite you to upload a project, contact our specialists, or see if you qualify for a free trial run to get started today!
