Estimation is one of the core processes in project-oriented industries like infrastructure. It extends to any type of contract like item rate, lump sum, cost plus, and covers all models like BOT, EPC, etc. Highbar with its alliance partners, provides an estimation solution which covers all scenarios of estimation and tendering.
Key Features
- Automated quantity take-offs for the bill of quantity (BOQ) from drawings.
- A library of resource masters for materials, operating norms for plants and equipment, labour etc can be built based on the historic data. Also, direct and indirect costs can be
- Calculated accurately using the resource masters.
- Various parameters related to risks and profitability, such as taxes, depreciation, and escalations. can be loaded into the solution and factored in while estimating.
- It covers the bid analysis process prior to tender, providing what-if analysis and reports to help with estimation accuracy.
- Tightly built security through authorization to users
- The solution integrates with all major CAD and ERP tools and project management solutions
- Friendly and reduces the learning curve for the users to a great extent, stabilising the system in a short period
Challenges
The common challenges of estimation and tendering are as follows:
- The knowledge and information while preparing an estimate resides with individual estimators. Others are not able to access the history of information quickly and easily.
- Non-availability of the database for resource masters and templates makes it a very tedious task for the reviewer to review the estimation
- Dependence on individuals, improper planning and missing costs lead to inaccurate estimates and budget escalations during estimation
- Trying out various estimation scenarios manually/ with excel sheets/ improper software requires a lot of time and efforts
- Given the time crunch, companies must not miss the opportunity and get an accurate estimation