AI and Construction Estimation: Why It Will Save You Time and Money

Construction estimation is a critical component of every project for Marhama Group LLC. That’s how you price it out, plan your work, and get the bid. Doing it correctly keeps your projects on time and your profits in hand. Do it incorrectly, and you’re looking at delays or lost funds. Artificial intelligence (AI) is revolutionizing contractor estimating to be faster, more accurate, and less stressful. This blog aims to explain how AI improves construction estimating, saves you time and money, and helps you grow your business. We aim to give you practical tips for your next project.

What Is AI in Construction Estimating?

AI is smart technology that helps with tasks like the examination of data or decision-making. In construction estimating, AI oversees project blueprints, estimates the materials, and predicts the costs. Consider a home you are constructing, for example. AI will calculate how much drywall, wood, or concrete you will need by translating blueprints. AI can also project labor hours based on past projects. It condenses a process that would have taken days or hours into minutes.

AI doesn’t steal your skills. It’s an accurate assistant that does the math and measuring for you, freeing up more time to plan and book more work.

How AI Saves Time

Time is money in construction. AI accelerates estimating in so many ways that you can get on with building sooner.

First of all, it speeds up measurements. Rummaging through hand-drawn drawings to measure walls, floors, or ceilings takes days in a big project. AI can read computer drawings and compute quantities automatically. For example, it can calculate the square meterage of walls in buildings in seconds. That way, you can finish estimates faster and tender ahead of your competition.

Second, AI eliminates errors. Estimating human error is overlooked, like forgetting a door, or underestimating, like calculating fewer materials. These are time-consuming to go back and fix. AI double-checks and looks at similar projects in its database for errors up front. Contractors who utilize AI report they produce estimates 80% quicker with fewer changes.

Finally, AI makes collaboration easier. Sending estimates and plans to your team or vendors is as easy as it gets. Cloud computing gives access to the latest figures to all of your stakeholders without endless meetings or repeated emails. This keeps your project on track.

How AI Saves Money

Smart estimates save your bottom line. AI saves you money because it makes your estimates more efficient and accurate.

One way is by avoiding costly mistakes. If you overestimate materials, you will waste money and time. If you underestimate, you spend extra on supplies. AI ensures it produces correct lists of materials based on your designs. It even considers factors such as waste or local prices so that you buy what you need.

AI also helps you win more bids. Making quick estimates means that you can place more bids without hiring more staff. Contractors reported doubling the number of bids they submitted, which leads to more work and higher income. For example, a small business could go from $1M to $2M worth of work without increasing overhead.

AI also reduces the cost of labor. Manual calculation uses hours of skilled workers’ time. One worker can accomplish the work of many with AI. You can keep a smaller team even on large jobs.

How AI Assists in Providing More Accurate Estimates

Accuracy is key to profitable projects. AI enhances estimate accuracy in the following ways:

First, it uses data from past projects to make better predictions. For example, if you’ve built similar houses before, AI can look at those jobs to estimate labor and material needs more accurately. This reduces surprises, like running out of supplies or underquoting a job.

Second, AI handles complex plans with ease. Whether you’re working on a small home or a large office building, AI can read detailed blueprints and account for every element, like windows, beams, or HVAC systems. This ensures nothing gets missed.

Finally, AI is consistent with your estimates. Hand estimating depends on who is doing it or how tired they are. AI applies the rules each time consistently, so your estimates are predictable.

Getting Started with AI Estimating

Want to try out AI with your estimates? Here are some steps to get started:

• Start with Digital Plans: AI works best with accurate, digital plans or PDFs. If you have hard-copy plans, scan them to digitize.
• Verify the Scale: Make sure the AI knows the correct scale of your plans. This guarantees measurements are correct.
• Verify Results: AI is very accurate, but always double-check the results. This catches odd numbers before you bid.
• Update Costs Regularly: AI uses labor and material cost data. Update these with local prices to get accurate estimates.
• Train Your Staff: Spend time learning how AI works. Most programs have free tutorials or support to help you.

Why Marhama Group LLC Is a Believer in AI Estimating

We at Marhama Group LLC are excited about what artificial intelligence is doing for contractors like you. It removes hours from estimating, eliminates costly mistakes, and lets you bid on more projects. Whether you are a one-person crew or have a large team, AI makes your job easier and increases profits. Having another worker who never sleeps and always has the numbers right is like having that.

If you want to save money and time on your next project, try using AI to estimate. It’s a simple change that can add up. Starting out or need help? Contact Marhama Group LLC. We’re here to guide and help your business.