article thumbnail

How to Create an Independent Government Cost Estimate

Job Order Contracting

What is an Independent Government Cost Estimate? An IGCE (also in construction related service an IGE) is a cost estimate developed by the Government Requiring Activity, based on the requirements of the Performance Work Statement (PWS) or Statement of Work (SOW). How was the estimate made? What assumptions were made?

article thumbnail

Preparing Independent Government Estimates – IGEs , IGCEs

Job Order Contracting

Preparing Independent Government Estimates – IGEs is fundamental to achieving best value outcomes. Most Independent Government Cost Estimates are Not Well Documented. This has lead to the vast major of construction cost estimates (80% or more) being inaccurate. ” Preparing an Owner’s Estimate.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

4 Ways to Help Your Estimator Prioritize & Create More Accurate Bids

Construction Business Owner

All the time, effort and energy invested in winning a good construction contract or building a loyal customer relationship, which allows you to negotiate on a project, is wasted with an inaccurate or incomplete estimate. So, instead, you must help your estimator prioritize.

article thumbnail

Overcoming Challenges In Construction Project Estimates And Submissions

Contractor Bookkeeping

Negotiation plays a key role after bids are submitted. This involves thoroughly understanding the project specifications, assessing the site conditions, and determining the resources needed. Competitive bidding requires a balance between offering a competitive price and ensuring the proposal reflects the quality and reliability of the work.

article thumbnail

Granular Local Market Cost Data is Essential for Construction Cost Visibility & Management

Job Order Contracting

Accuracy Estimates reflect real, current market conditions , not outdated or averaged data. Better contractor alignment Estimates match how local subcontractors and suppliers bid , reducing disputes. Example: A national database might estimate drywall installation at $1.80 per SF , adjusted by a 1.15

article thumbnail

Tracking Bid-Win Rates for Commericial Construction

Job Order Contracting

Higher than 11-to-1 will cost your company too much in estimating expenses and will not provide a reasonable profit. I recommend you strive for a 4-to-1 ratio or less for private work.Higher than 11-to-1 will cost your company too much in estimating expenses and will not provide a reasonable profit.

Bidding 100
article thumbnail

Construction Estimating Made Easy

Viewpoint Construction Technology

Using a web- or cloud-based software solution is also the best way to increase your estimate accuracy and improve profitability. Quick, accurate estimates can be a fast and efficient way to grow your business. If you’re still using paper to estimate and bid, you know it can be a slow moving, time draining process.