Global quantification means adding quantities to an estimate through a variety of ways as well as pinpointing where quantities come from in an estimate quickly and early in one platform. Clear as mud? Let’s break down what global quantification actually is, why it is important in preconstruction, and how it helps construction companies.
Variety of Ways to Add Quantities and Pinpointing the Source
Being able to add quantities to a construction estimate through various channels gives estimators greater flexibility. Whether quantities are added through manual entry, 2D takeoff, 3D takeoff, and/or from a template being able to choose the best route helps speeds up the preconstruction process.
However, if there is not a clear tracking mechanism for where each quantity came from then when it comes time to modify a cost item the estimator can waste precious time searching for the source of the quantity. Being able to pinpoint the quantity source helps make decisions on whether the initial assumptions are correct.
Quantity source is one of the benefits of global quantification. When one construction estimating software platform supports the ability for an estimator to add quantities from any source they can quickly build the estimate. Then being able to track the source of each cost item and be able to edit and adjust an estimate on the fly means more confidence in the final number given to a project owner.
Why is Global Quantification Important?
Preconstruction is notoriously under deadline for every project. That’s why detail-oriented adrenaline junkies resonate with preconstruction careers. However, just because deadlines are hectic doesn’t mean we can’t improve the processes that lead us to those deadlines. Plus, we might as well make the detail-oriented piece of the equation more accurate through the use of technology.
Being able to dissect, edit, and manage estimating data in one platform provides estimators more insight into their projects. Global quantification ensures the data is fully connected. Preconstruction professionals are accustomed to using multiple tools to get an estimate out the door. But when the estimate needs to be deciphered by Uniformat or sub-structure, for example, the hassle of jumping between software platforms causes havoc and headaches. When the connectivity of global quantification is in one unified software the data clarity becomes apparent. The end result is less stress and less jumping through hoops to answer project questions.
Having 100% certainty of where a cost item originated from seemed like a pipe dream a couple of years ago. However, global quantification has made this a reality. Data source is just as paramount as the data itself. Being confident in the source of project information and tracking it back to previous project iterations allows estimators to see adjustments over time and give insight on whether future changes are needed.
Because data can be traced back and the source is known preconstruction professionals are lowering project risk in real-time. This can only be done with global quantification as the backbone of construction estimating software. When project risk is lowered the offset is that a construction company’s profit margins can increase. Simply by being more confident in the data presented during project stakeholder meetings and being able to pinpoint any trouble spots along the way.
This all leads to speeding up the overall time to complete an estimate. Through global quantification, estimates can be created, modified, and delivered within a deadline while also allowing preconstruction professionals more time to provide high-value activities. Those activities can include a detailed inspection of project assumptions, reviewing various construction scenarios, and working closely with sub-contractors during the planning phase.
How Does Global Quantification Help Preconstruction?
Time to estimate is at the forefront of global quantification; being able to go from “no estimate” to “complete” is more accurate and sped up. When construction estimates are more accurate the likelihood of winning projects improves. And when the speed at which an estimate is produced is increased then that means a construction company can go after and submit for more projects or help out in other project pursuit areas of the business. Global quantification is not only helping the individual estimator to complete an estimate it is also improving the win rate of the construction company.
Tracking quantities throughout the estimate process is a given. A unified estimating software that has global quantification as part of its structural foundation means it is always working in each corner of the platform. Estimators don’t have to toggle on a setting to track data between versions or when completing takeoff. The software automatically tracks the bread crumbs from one data point to another data point. When preconstruction technology is already anticipating what you need to access in two days at a big project meeting and provides you access to that information at your fingertips that’s a big bonus for global quantification.
Plus, reassuring estimators that their data is correct will lead to more project pursuits and wins. Global quantification is the stamp of approval that says “yes, this information is the best it can be” and allows an estimator to feel a job well done. The worst feelings an estimator has are when they work on estimates and nothing pans out or, even scarier, the company wins the project and the estimate is way off base costing the company or customer money. (Hint: no one likes an upset employer or customer.) Global quantification changes the rate at which construction projects are won and gives a boost of self-confidence to preconstruction professionals who feel first-hand the project owner’s decision.
Summary of Global Quantification
Global quantification is improving how preconstruction is done today and in the future. Finally being able to add cost quantities to a construction estimate through a variety of channels while also being able to trace where a specific quantity came from is a game-changer. Using a unified cost and global quantification platform is part time-saving machine and part data mining team member. The extensive benefits of global quantification go beyond the preconstruction function of a construction company but also improves the bottom line. Estimates with greater accuracy, pursuing more projects, having confidence behind the numbers, and being able to point to the source of information is here thanks to global quantification.
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