How Do MEP Engineers Estimate Project Costs?

MEP Engineers are the reason behind the curtains for generating accurate cost estimates. The cost evaluation process basically swayed by the input and output of these engineers. Who are perfect in having a knowledge about every kind of old or modern mechanical, electrical and plumbing systems. If any construction is going to start. Before anything built, the first thing the professionals need to figure out its cost. That is why cost estimation of each and every component or system is very important to remain on budget. From the prices of the materials to the prices of the labors, everything covered under it. 

The engineers who are responsible or in charge of construction need to know exactly what going to be built. Usually the cost estimation process is done after the completion of the design phase. When all the discussions and planning are carried out, a rough estimation told to the owner by engineers. But precise and spot-on accurate cost estimates generated by the help of detailed drawings and specifications of the project. 

By this everyone in the project remains on the same page without any confusion. Contractors are so busy in managing all the construction related tasks due to which they have to outsource MEP Estimating Services. So that they do not have to handle budget related tasks and focus on other important things. Also, cost estimates are super time-sensitive because things change over the years. New methods, new techs, materials and labor changes with time. Even the rules and regulations change every year. That straightly means if you have estimated any building a few years back, the cost will never be the same for sure! So, keeping up with the changes is very important that the budget is on the right track. Ready to dive into the fascinating world of MEP engineering cost estimation? 

Cost Estimating Process

The cost estimating process of mechanical, electrical and plumbing systems for engineers involves very important steps. The main thing is to understand the scope of the project. What does the scope cover? It has all the detailed drawings of each and everything that shows what thing is located where and how to place it. 

Some methods applied in the first step that breaks down the project into different areas like Mechanical, Electrical, and Plumbing. After that the engineers further divide them into specific cost items. Basically these items are the measurable quantities of materials, labor and sometimes equipment costs for certain tasks. 

After doing this the assigned unit cost is multiplied by the required quantity. That results in the total cost for that item. The final thing is the sum of the total cost of each department that gives the overall cost estimate of the project. 

Factors Influencing MEP Projects

Navigating Project Parameters

Properly navigating the project parameters is very important. The scope of the project is like a guiding path for the engineers. That shows them how big or small the MEP system a building needs. All the building rooms and spaces are analyzed meticulously by them. It is all about understanding all the important things properly.

Choosing the Right MEP Systems

After looking at all the details of the drawing and anlyzing. Next step is to see which MEP systems would be perfect to install into the building. Because these systems have to handle heating, cooling, lighting and plumbing. It also depends on the clients needs that is why engineers also make sure everything is according to them. They also have to keep in check that the systems should be energy-efficient. 

Project Labor Expenses

The expense of the labor is very important for determining the overall project costs. Because for MEP projects skilled labors constitute a substantial cost. Engineers have to take into account some factors like skilled labors, rates of labors and other important things. By carefully assessing helps in managing the overall costs easily.

Project Essentials

Then comes equipment and materials that used to construct buildings. For example in MEP projects, a huge amount goes into air conditioning units, electrical panels, pipes, wires, and other essential parts. Engineers also have to make sure to include its cost according to the project’s requirement.

Estimating Methodologies

Parametric Estimation

Parametric estimation approach relies on the historical data to make cost evaluations. How is it possible? This means that by using the past project information and statistical patterns to quickly estimate the new project’s cost. Engineers usually find this method easy to give a rough cost estimate idea to the client. They find this method easy to provide swift initial cost estimates.

Thorough Project Cost Assessment

When the professionals have to give an accurate idea of project cost then they use this method. In this approach, a careful examination of every part of MEP systems is conducted. You can say a close look to all the materials required for the project.

Using Advanced Softwares

To more simplify and generate more accurate cost estimates. Engineers use advanced software’s and tools. You can say Building Information Modeling (BIM) software is one of them. What does BIM do? This type of model helps in enhancing the accuracy that helps in generating super accurate outcomes. No surprises in the end and the project is completed on time. Other than BIM there are multiple other software’s that ease the work of estimators and they provide their clients a spot-on accuracy.