Why Do 78% of Industrial Projects Go Over Budget?
Studies indicate that about 78% of all industrial project construction is either exceeding budget because of an inaccurate cost forecast or due to poor planning. It is at this point that good professional industrial estimating services come in and make the difference to guarantee reliable figures and reduce the chances of financial risk before they even start. Our cost breakdowns enable contractors, developers and plant owners to minimise risks and to optimise profitability.
Our industrial estimating company focuses on providing accurate, day-based cost estimates on projects of any complexity, such as manufacturing facilities, processing plants and heavy industrial projects. We can obtain accuracy rates of up to 95% by integrating the best industrial construction solutions available with real-time material and labour pricing to help the client make smarter bids and manage projects with assurance. Unlike most industrial estimating firms, we offer customised, transparent services, keeping your budget in check and schedule on track.
What is Industrial Construction Estimating?
Industrial construction estimating refers to the practice of estimating the cost of large-scale projects, which entails an estimation of material takeoff, labour, equipment and risk. Reports in the industry indicate that projects that have been estimated in detail are more likely to stick to budget by a percentage of 60 compared to projects that are not assessed. Estimates may vary from preliminary to final in accordance with the project stage. Sectors in which our services are supported include petrochemical plants, heavy equipment installations and manufacturing facilities with a promise of delivering accuracy, efficiency and cost certainty to each step.
Why Partner with Professional Industrial Estimating Companies?
Accuracy and Risk Reduction
Leading industrial estimating companies minimise financial risks by delivering exact budgets, factoring in labour, material and equipment costs. It has been shown recently that 65% of industrial projects experience cost overruns of 10% or more as a result of inaccurate estimation. A professional estimator can help provide tighter budget control and fewer budget surprises.
Competitive Advantage in Bidding
Proper estimates enable the contractor to have a higher success rate of 40% in competitive bidding, as it is both realistic and profitable. Detailed cost data enables estimators to allow firms to bid on projects with certainty of winning and not losing their margins.
Transparency and Decision Support
In contrast to the basic estimating, trusted industrial estimating companies develop a complete basis of estimate including assumptions, traceability and contingencies. That makes decision-making and trust between the clients more intelligent and increases over the project lifecycle.
How to Engage Our Estimating Services?
With the help of a professional industrial estimator, the process is quite painless. It can create time savings and initial accuracy.
- Initial Consultation: Share your project details, drawings or specifications.
- Custom Proposal: We give a custom proposal that includes the scope of work, pricing and timeline.
- Scoping and Analysis: We analyse materials, labour and risk factors to be as accurate as possible.
- Estimate Delivery: Receive an accurate estimate with a clear breakdown of costs.
Ready to take control of your project costs? Request a free consultation or a sample estimate today and see how our expertise can give your bids a winning edge.
Case Studies and Project Examples
Petrochemical Plant Expansion
Problem: A Fortune 500 petrochemical company has a cost question on a $50M expansion project, because of major cost uncertainty, budget overruns, stakeholder approvals and possible delays.
Estimator Engagement: Our experience estimator performed the high-quality work of industrial construction estimating techniques including the use of vendor costs, labour rates and price of materials to provide an elaborate costing model. We have also added basis estimates to assist with decisions.
Outcomes: The finished estimate attained a 96% efficiency and saved an estimated 12% in projected cost overruns and assisting the client in securing his project funding two months ahead of schedule.
Manufacturing Facility Upgrade
Challenge: A contractor that was bidding on a large-scale facility upgrade of a manufacturing facility was at risk of underestimating structural and MEP costs, threatening profitability and competitiveness.
Estimator Engagement: We collaborated with an industrial estimating company to complete a detailed estimate that took into consideration contingency considerations, risks and detailed cost allocations by trades.
Outcome: The bid efficiency of the client rose considerably and thus enabled them to win the project confidently. Their performance in the course of execution was credible as they avoided cost overrun and expended $1.2M in unforeseen trial costs that saved the project owner a substantial amount of money.
Heavy Equipment Installation Project
Problem: An industrial contractor whose business was to put heavy equipment in various sites within a narrow timeline, and with fluctuating construction materials prices.
Estimator Engagement: We have utilised special databases and real-time cost merger to come up with a very accurate estimate. We also offered scenario-based cost modelling to reflect delays that may occur.
Result: The project was delivered on nearly 3% of the projected cost-saving the contractor time and resources and increasing the client’s confidence in future projects.
Get Started With Expert Industrial Estimating
Partner with Nedes Estimating Today
Get exact and valid industrial estimating services at Nedes Estimating. Accurate cost estimates to zero-based budgets, our consultants are here to ensure you plan better, bid better and execute with greater certainty. Request a free estimate now.
Customised Strategies for Accurate Industrial Estimation
Our industrial cost estimating services deliver accurate, data-driven solutions to fit the specific needs of each project. Research indicates that more than 70% of industrial projects have gone over budget when they utilise generic estimates or use outdated cost information. Using sophisticated software, up-to-date material prices and highly detailed labour analysis, we offer cost estimates with up to 95% accuracy, allowing clients to make decisions.
We take a risk-based approach that is accompanied by contingency planning, reporting and full accountability of every dollar. With experience across a wide variety of industries, including petrochemical plants and manufacturing facilities, and heavy equipment installations, Nedes Estimating offers exemplary industrial cost estimating services to reduce financial risk, win more bids and deliver projects on time and under budget.
Worth the Investment
Investing in professional Industrial Estimating Services saves time and reduces risk. Studies show that projects using expert estimates are 65% more likely to stay within budget, improving bid success and preventing costly overruns across industrial construction projects.
Our Industrial Estimating Process
Initial Project Scoping and Data Gathering
As a reliable industrial estimating company, we gather blueprints, specifications and quotations from vendors. More comprehensive scoping projects cut cost overruns by more than 20% and increase planning accuracy.
Quantity Takeoff and Modelling
We utilise automation, BIM and other advanced software tools to make precision easier. Accurate takeoffs translate to 95% accuracy in estimations, which allows customers to make resource planning successfully and prevent its disruptions by costly delays.
Cost Database and Real-Time Pricing
Using updated material, labour and equipment rates will keep estimates up to date as per the current market rates. Reports claim that real-time pricing projects can record up to 15% cost savings.
Estimate Classification
We give preliminary estimates, intermediate estimates and final estimates according to the phase of the project. Beneficial classification can lead to superior financial planning, and ratings errors are cut down by almost 18% on average.
Review, Validation and Risk Analysis
Our team identifies contingencies, assumptions and risks early. The industrial projects based on structured risk analysis are 40% less prone to cost increases dramatically.
Final Report and Presentation
We provide a detailed report including cost breakdowns, scenario modelling and basis of estimate support. Customised reports allow clients a better winning bid by 35%.
Industries We Serve With Industrial Estimating Services
Manufacturing Facilities
Our industrial estimating services serve manufacturing plants of all scales. Matching cost estimates saves clients as much as 20% in overruns, allowing them to manage production upgrades and expansions with a high degree of confidence and accurate budgeting.
Warehouses and Distribution Centres
We offer a custom cost estimate for warehouse construction and retrofit. Research indicates that projects that make use of professional industrial estimating services are 30% less delayed, and they remain operationally efficient to support timely completion.
Processing Plants
A complex processing facility requires an articulate execution plan. Our industrial estimating team provides accurate material and labour estimates that enable a client to reduce surprise expenses and increase bid certainty by more than 25%.
MEP Dominant Projects
Our industrial estimating services capabilities are specialised in government and industrial mechanical, electrical and plumbing (MEP) heavy projects. The analysis across all trades will enable clients to have up to 95% accuracy of estimates, which reduces risk and maximises project profitability.
Local and Regional Projects
We optimise location-specific conditions estimates as well. Clients gain enhanced compliance and cost efficiency with more competitive pricing by using industrial estimating services provided by costmmunity-distinct.
Get Your Industrial Estimate
Our industrial estimating services are flexibly priced with rush order and rapid turnaround capabilities that make it a perfect fit for any project. Contact Nedes Estimating AU today for a reliable and accurate quote.
Why Choose Nedes Over Other Industrial Estimating Companies?
Our industrial estimating services stand out due to deep industry expertise, where we estimate in manufacturing, petrochemical and MEP-heavy projects over a 15-year history. Certified estimators and specialised teams with unparalleled efficiency and professional sophistication. Using automated takeoff tools and our own proprietary software, we manage to shorten the time of estimates by 30% compared with traditional methods to eliminate delays in the projects.
Our processes involve transparency, so clients will receive detailed basis of estimate documentation updates and dedicated support. Proven successful performance has shown us results where clients received reductions between 5-10% in cost variance and increased success in bids.
Unlike one-size-fits-all services, we provide customised solutions relevant to your project needs in terms of scale, complexity and location. The collaboration with Nedes Estimating provides superior budgeting, risk management and safety on any industrial project.
FAQs Us
Preliminary estimates are in the early stage and are broad estimates of a budget. In contrast, definitive estimates are more detailed and are based on certified materials, work and equipment prices. As industrial estimators, our services are accurate and informed in terms of decision-making made at various stages of the project.
Accuracy increases with project maturity, such as rough order estimates normally deviate by 15 to 20%, intermediate estimations by 8 to 10% and final estimates may have precision as high as 95%. Clients gain the advantage of reducing the risk of finance and costly overruns by using the services of professional industrial estimators.
Yes. We assist with competitive bidding through detailed breakdowns of costs and vendor pricing analysis, scenario modelling. Professional industrial estimating services allow clients to present correct bids, make financially and operationally sound decisions.
The schedule is based on complexity and the size of the project. Our industrial estimating services deliver more detailed, actionable estimations that are 30% quicker than other, less automated estimating techniques-with no compromise to reliability or precision.
Yes. Our industrial estimating ups are scalable and can be used to value upgrades to a minor facility to a multi-million dollar industrial plant. We customise each estimate to land exact material, labour, and contingency costs on any size project.
Absolutely. All estimates are built within a risk-assessment analysis, including contingency plans and scenario analyses. Our industrial estimating expertise helps clients avoid overruns, minimise levels of financial uncertainty and make more informed project and budgeting decisions.
Our estimates are very accurate since we combine real-time pricing, advanced cost modelling and certified estimator experience. Using our industrial takeoff services and industrial estimating services, clients are able to run budget forecasts with minimal variance that can help in cost control and project profitability.
The clients can send blueprints, CAD files, or project specifications through our secure portal. Our certified industrial estimators will go through all the information and come up with an informative, visible and usable cost estimate within a short period of time.