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Hey everyone! Let’s talk about the future of estimating. As we move into 2025, the tools, processes, and strategies for creating accurate bids are evolving rapidly. From AI-powered software to real-time collaboration tools, the landscape is shifting in ways that can help us work smarter, not harder. Here’s what I believe will shape the future of estimating: 1️⃣ Automation & AI: Streamlining repetitive tasks and improving accuracy with machine learning tools. 2️⃣ Cloud Collaboration: Sharing estimates and project details in real-time with clients and team members. 3️⃣ Market Adaptability: Keeping up with fluctuating costs and supply chain challenges with dynamic pricing tools. 4️⃣ Data-Driven Insights: Leveraging historical data to predict trends and improve bid success rates. 5️⃣ AR & VR Technology: Visualizing projects and estimates in immersive ways for better client presentations. But one thing will never change: the importance of building trust through accuracy and communication. I’m curious—what do YOU see as the biggest shift happening in the estimating world? Let’s spark a conversation below! Let’s stay ahead of the curve, Nick McGee

Hello everyone! As estimators, we're masters of calculating costs down to the last nail and gallon of paint. But what about the unknowns lurking in every project? Today, I want to highlight a crucial yet often overlooked aspect of estimating: building a proper contingency plan. Why Contingency Matters: - Unexpected Happens: No matter how thorough your estimate, surprises like sudden material price hikes, design changes, or unforeseen site conditions can derail your budget. - Protects Profit Margins: A well-planned contingency safeguards your bottom line against these surprises. - Demonstrates Professionalism:Clients appreciate when you plan for uncertainties—it shows experience and foresight. How to Effectively Incorporate Contingency: 1️⃣ Assess Project Risks: - Identify potential risks unique to the project (e.g., complex designs, volatile markets). - Assign a risk level to each aspect to determine where contingencies are most needed. 2️⃣ Use Historical Data: - Analyze past projects to see where unexpected costs occurred. - Let history inform the percentage you set aside for contingencies. 3️⃣ Transparent Communication: - Be open with clients about the contingencies included. - Explain that this isn't padding the estimate—it's a proactive measure to handle uncertainties smoothly. 4️⃣ Regular Updates: - Review and adjust contingencies as the project progresses and risks become clearer or are mitigated. - This dynamic approach keeps your estimate accurate and builds trust with your client. A Real-world Example: On a recent construction project, we faced an unexpected regulation change that required additional safety measures. Thanks to our contingency plan, we covered the extra costs without affecting the project's budget or timeline. The client was impressed with our foresight and relieved that there were no financial surprises. Take Action: Start integrating contingency planning into your estimates today. Not only will it protect you financially, but it will also enhance your reputation as a thorough and professional estimator.