Performing an accurate takeoff is essential when creating an estimate, identifying how much material to buy, or submitting a bid. Accurately predicting the material cost before bidding helps avoid overbidding and missing out on the project, underbidding and losing profit, or delaying a project. Read on to learn more about construction takeoff and construction estimating software.Ī construction takeoff is a process that lists all the materials needed with the estimated quantities and costs-it is a must when creating an estimate for a job, assessing the quantity of each material, and preparing a bid for a construction project.Īs material estimation is the first step in a project bid, a precise estimate is necessary to prevent an overcharge, undercharge, or budget overrun. There are companies that specialize in construction estimating services to enable you to create precise estimates, increase your profit margin, and optimize your bids with confidence. Furthermore, an accurate takeoff ensures better money management and ROI. Therefore, construction takeoffs are critical for a wide range of construction projects, including project extensions and renovations.Ĭonstruction professionals now have more choices in construction estimation software to eliminate estimating errors, handle more projects simultaneously, and create accurate construction takeoffs faster than before to manage the arduous cost estimating process. It is also commonly known as a “bill of quantities,” “material takeoff” (MTO), “quantity takeoff” (QTO), and “construction material takeoff.”Įscalating material costs and razor-thin margins make it all the more necessary to estimate project expenses and materials correctly.
Construction takeoff is the first step of the construction cost estimating process and provides a comprehensive understanding of the project material requirements and related costs.
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