Electrical estimating: Which method is best for you?
Electrical estimators play a crucial role in determining the direction and budget of electrical projects. Clients rely on their accurate estimates to decide on contractors and project scopes. However, creating precise estimates can be challenging due to the numerous variables involved. The choice of estimating methodology significantly impacts the accuracy and ease of producing an estimate. Below are some common electrical estimating methods, along with the pros and cons of using them: Per-point method In this approach, each fixture (e.g., power points, switches, sensors) is assigned a common dollar value as a "point." The total project cost is calculated by multiplying the number of points by the dollar value per point. Although this method is quick and straightforward, it can lead to inaccuracies due to its "one-size-fits-all" nature, particularly regarding labor costs. Labour unit method This method assigns a value (in units) to the labor required for each hardwa...