FAQ About Estimates

When submitting project estimates, a wealth of factors must be considered to allow for accuracy, attainability, and of course, profitability.

What follows are some frequently asked questions about the estimating process - and answers that will help make your estimates easier and more focused.

Q: I’m estimating a project that is much larger than anything I’ve handled in the past. What is most important to consider?

A: The most important consideration is simply whether you believe the job is within your skill set to complete efficiently and cost effectively.

Q: My company is local to a medium-sized metro area. Is it worth our time to estimate a job outside the city limits?

A: Only if the additional costs associated with commuting, parking, access, etc. do not take away from your bottom line - do a bit of calculating to determine costs vs. returns. Never be afraid of passing on a job that will not turn a profit for your business.

Q: How should formal estimates be performed?

A: Estimating has evolved into a specialized field and requires technical precision to perform correctly. Two things to consider for perfecting your skills are: electrical estimating classes and dedicated electrical estimating software. Look to advance your technical knowledge in as many ways as possible, you’ll improve your estimating abilities and instill confidence in your target clients.

Q: What is the best way to submit an estimate? Certified mail? Email? Telephone?

A: The most viable option to consider is a traditional hard copy with an emailed version of the estimate. Telephone is the least practical consideration - as estimates need to be in writing. While a follow-up telephone call is acceptable, it should come only after a written estimate has been submitted.

Article Written by Eddie A.

Eddie is a Product Marketing Manager. His goal is to get reliable and safe products into the hands of customers—all at an affordable price. His client-focused initiatives bring high-quality products to market that exceed consumer expectations while fulfilling the purpose they were designed to achieve.