Part I – Fundamentals of Electrical Estimating – This section will provide the estimator with a solid foundation for producing accurate and detailed estimates. Just as no building will stand very long without a good foundation, no estimator will be successful in the profession of electrical estimating without a solid understanding of proper estimating principles.

Part II – Estimate Preparation – Preparation is key to perform an accurate estimate. This preparation will require a careful examination of the contract specifications and drawings. When the estimator attends the project’s pre-bid meeting, he or she must be prepared beforehand and know how to conduct a site examination of a project. Properly setting up an estimate before quantifying the project is vital.

Part III – The Takeoff – One of the main responsibilities of the estimator is an accurate quantifying of the project. Every estimator must develop a technique that allows for an accurate, detailed, organized takeoff. The estimator must know the difference between estimating and bidding. Estimating is the quantification of the project. Bidding is the summarization of the project. The estimator must provide a complete list of all direct material and labor costs for a detailed takeoff. Having a knowledge of labor factoring is necessary to arrive at an accurate direct labor hour total.

 Part IV – The Extension – With computerized estimating, the estimator has control over the consolidated takeoff totals. The estimator may modify material pricing to current market levels and labor units to suit the project conditions. However, the Extension Screen should allow the estimator review labor percentage totals to determine risks and make adjustments to help mitigate project risks

Part V – Bid Summarization – The Bid Summarization, sometimes referred to as the Bid Recap, must be complete.  An accurate takeoff can be useless if the project is not properly summarized.  Summarizing the estimate is the final step in the estimating process. It is the most important step in preparing an estimate. The potential for major mistakes during this step is highly possible unless it is handled carefully.