In the world of construction, where every nail, beam, and hour has a price tag, cost estimation isn’t just a starting point—it’s the foundation on which the success or failure of a project can rest. Real estate services company JLL projects, “overall construction costs, including both labor and materials, will rise between 5-7% in 2025.” This projection underscores how important accurate cost estimation is for your business. Whether you’re bidding on a multimillion-dollar commercial build or a residential renovation, the accuracy and speed of your estimate can set the tone for everything that follows.
Who Handles Estimating?
Cost estimation is the domain of seasoned professionals: general contractors, estimators, project managers, and sometimes even architects or engineers. These individuals bring a balance of technical knowledge, historical cost data understanding, and experience to the table. In larger firms, entire departments might specialize in estimation. In smaller operations, the task may fall to the project lead wearing multiple hats.
