ARES PRISM Blog

Why Invest In Estimating Software?

Posted by Gail Medley on May 11, 2017 7:51:35 AM

Estimates are a necessary part of project management that simply cannot be avoided. Accurate and timely estimates can mean the difference between project success and failure. But beyond that, why should you invest in Estimating software?

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Here are just a few reasons:

  • Speed Up Creation of Conceptual & Detailed Estimates
    • Depending on your current processes, the time spent estimating a project can be cut in half with good commercial estimating software. This would allow you to bid on more projects and take more time on the front end to make sure the projects that you are awarded come in on-time and within budget.
  • Increased Accuracy and Consistency
    • Estimate accuracy can be significantly increased by using industry standard databases and by capturing and using your company’s historical data to produce new estimates. 
  • Standardization of the Estimating Process
    • Standardization of the estimating process allows managers to move from one office to another and evaluate estimates created by others with full knowledge of the process used in its creation and the logic that led to the price.
  • Capture Enterprise Knowledge & Share Best Practices
    • This will bring great value to the company and will enable you to maintain confidence in your estimates regardless of who produces them.
  • Dynamic and Visually Appealing Reports 
    • Estimating software can slice and dice the estimate using summary and detailed data that is captured in WBS codes, Group Codes and Sort Fields allowing us to quickly pivot data for reporting based CSI, Master Format, Uniformat, Phase, Area, and other breakout required by the client. 
  • Promote Collaboration & Eliminate Silos
    • The Estimating department needs to collaborate with Project Controls to promote the use of cross-functional, integrated project teams using three dimensional, collaborative environments to shrink the cost and protracted length of total project life cycles. This methodology offers design, estimating, planning and execution teams the ability to explore and visually simulate many designs. The result is a better understanding of the time and cost associated with the overall project delivery.

Want to learn more about realizing project potential with enterprise estimating software? Download our new white paper!


Estimating Software White Paper

WHITE PAPER: REALIZING PROJECT POTENTIAL WITH ENTERPRISE ESTIMATING SOFTWARE

This white paper explores why it is important to investigate construction estimating software; what functionality should be sought after and, most importantly, how to achieve a successful implementation within the organization while delivering a good return on investment.

Topics: Project Lifecycle Management, Forecasting, White Paper Downloads, Commercial Off The Shelf (COTS) Software, Efficiency, Project Controls