Having an Electrical Estimating Checklist for a project will help you thrive in the electrical contracting industry. Diving into the estimation process unprepared may result in inaccurate estimates. Thus, compromising the accuracy of the estimates.

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In this detailed article, we will walk you through every step in the checklist of performing electrical estimates. But first, let’s understand what it actually is. 

What is Electrical Estimating?

It is important to note that a successful estimate for an electrical project begins even before the planning stage. This means that, before delving into the estimating process, it is essential to consider the suitability of the project for your firm. This is because if you bid on a project that is not suitable, it will cost you more than anticipated, thus leading to failure.

Prominent Elements for an Electrical Estimating Checklist: Steps for Accurate Bids

Accurate preparation of bids for electrical estimating requires a sequential approach. This is of great importance, as a sequential method will ensure that every detail is accounted for. Let’s explore what steps are a must for an efficient Checklist:

Analyze Construction Plans

The first step of your checklist for an accurate bid is conducting a thorough review of the construction plans. This step involves examination of the following:

• Blueprints
• Drawings
• Specifications, if any
• Other essential information

Apart from the above constructional plans, it is also important to examine architectural plans, but why is that important? It is important because these plans will help you understand the overall layout and functionality of a building.

Material Takeoff for seamless electrical installation

So, after you have done a comprehensive review construction plan, it’s time to move to the next step in the checklist. In this step, we perform a material takeoff for a building’s electrical system.

Although you already have an overall checklist, having a separate Electrical Installation Checklist for Estimating materials can surely be helpful. A separate checklist will help you in the easy identification of all the materials needed to complete the installation process.

Estimate Labour costs

The accuracy of a bid depends highly on correctly estimating the labour costs. To make sure that these costs are estimated precisely, you have to consider the following key aspects:

• How long will it take to install the electrical system?
• What is the local labour rate in the region where your project is located?

For estimating labour costs accurately, you also have to adjust for the real-world factors.

• The first factor is to assess the efficiency level of the labour force
• The second factor is to factor in known and unknown site conditions

Account for all additional costs

An estimate is only accurate if all the cost aspects are included. This means that, except for direct costs, you also have to account for indirect or overhead costs. In other words, beyond materials and labor other additional costs must be included in an estimate. Adding these costs will make your electrical estimate more accurate. The most common overhead costs are as follows:

• Permits
• Administrative and office expenses
• Tools and their maintenance
• Temporary lighting
• Equipment rental
• Job trailers
• Clean and waste disposal

Building on the above, estimating overhead costs is also important because it will provide you with a picture of how much profit you have earned. So, make sure that you have estimated overhead costs. Normally, overhead is calculated as a percentage of direct costs. For instance, if the direct cost of an electrical project is $85000 and the percentage of overhead are estimated at 20%, then the overhead costs will be $17000.

Final Assessment of the bid

The final step of the checklist is the assessment of your bid and preparing a proposal. This assessment provides you with a chance to ensure that every detail is correct and nothing is absent. In other words, you have to make sure that the electrical estimates are in line with the project requirements.

In the final assessment of the bid, you will:

• Double-check the quantities of material and labour costs
• Ensure that every cost has been considered in preparing the estimate
• Verify that your pricing is by the project’s specifications

After the final assessment is done, an Electrical Estimating Company will prepare a proposal and submit the bid. An estimating company has to ensure that they have adhered to all the instructions outlined for a bid. As these institutions are critical to avoid disqualification.

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Closing Remarks

Electrical projects of any kind require a variety of knowledge and experience with attention to detail, and that is why having an Electrical Estimating Checklist is essential. That is why you have to devise a thoroughly organized process. Remember that a successful bid lies in carefully calculating all the direct and indirect costs. This can be achieved easily with the help of this article. It outlines essential information that you can apply to ensure that you have prepared a winning bid.