Introduction to Estimating Module
The E Light University is a program designed to help educate our employees in business, project management, supervision, personnel management, Lean construction practices, LEED building practices and the E Light Way. We will offer individual models so that you can seek out education in topics that interest you and we will also be developing certification programs so that you can earn certificates in Lean Construction, Supervision, Customer Relations and more.
This module will introduce you to the concepts and processes of estimating. Estimating is the process of reviewing a project and then determining the cost of producing that project. Information is gathered and reviewed and then a proposal is developed. Estimating is one of the most difficult processes we are required to undertake in our business. Very often estimates are required in short time periods and without complete information. The Pre-Construction Department is required to develop an estimate and advise management concerning the project. Decisions are then made concerning the project, the viability of the project and the risks. A good estimate is the foundation of a successful project for us and our clients. A bad estimate is a recipe for problems for everyone, therefore our estimators are knowledgeable, well trained experts in the electrical field. They are detail oriented, creative thinkers, comfortable with computer software and have an aptitude in math. If you are interested in learning more about the pre-construction process or the possibilities of pursuing a career in estimating, contact the Director of Safety and Loss Prevention at (303) 550-5292.
Please click on the link below to be directed to the Introduction to Estimating Module. Review the information contained in the module. When you have completed the module click on the link at the end of the module and you will be redirected back to this page.
THE INFORMATION CONTAINED IN THIS MODULE IS INTRODUCTORY IN NATURE AND THEREFORE BASIC TO THE CONSTRUCTION INDUSTRY IN GENERAL. IT IS NOT A DESCRIPTION OF E LIGHT ELECTRIC SERVICES PROCEDURES AND POLICIES.
Complete the 10 question test below and submit your answers. You must fill out all fields before clicking on the 'Submit' button.
A certificate of completion will be issued to you if you score 80% or greater on the test. If you are an E Light Electric employee the original certificate of completion will be placed in your employee file. Certificates of completion for non-E Light Electric employees will be sent to the job site safety manager and kept on file for the duration of the project.
Ted "Smitty" Smith
Director of Safety and Loss Prevention
1. As an employer, you incur costs such as employment taxes and insurance. These obligations add approximately 30 percent to your labor cost. This additional amount is referred to as ______________________.
2. One accurate method of estimating is the ____________________________ method. Using this method, you individually estimate units of materials and labor for each task you listed in your estimating framework.
3. The first thing you need to consider when doing your estimate is __________________________. of the project you are working on.
4. ______________________ pricing is one of the most common ways to price a bid. Essentially, the cost of the project is determined through the cost estimate and an overhead percentage, plus a markup percentage.
5. Purchasing equipment is advantageous when the equipment has a ______________________________.
6. There may be items that are not specified in the project plans, such as finish materials (carpeting, fixtures, lighting, etc.). For these items, you can specify an allowance in your estimate. This is the owner’s budget for these items. If the owner’s choices exceed or fall short of the allowance amount, the contract should clearly _________________
7. A contingency is sometimes added to an estimate so that __________________________________.and it is typically determined based on the risk of the job conditions.
8. Estimates are always done based on 100 percent completed design drawings.
9. Which of the following items is not a company overhead item and should be project job cost?
10. Accurate estimating is a vital function for construction businesses and can make the difference between getting the right jobs and making a profit on a job.
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Introduction to Estimating Module Test
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This page was last updated: July 20, 2017