How Cost Estimators stay on track

360° view of time spent on each project
Cost Estimators hourly rate: $32,03

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Annual savings

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What is the job of the Cost Estimators

Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.

Key tasks of the Cost Estimators

  • Collect historical cost data to estimate costs for current or future products.

  • Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.
  • Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
  • Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
  • Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
  • Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
  • Prepare estimates for use in selecting vendors or subcontractors.
  • Set up cost monitoring and reporting systems and procedures.
  • Establish and maintain tendering process, and conduct negotiations.
  • Prepare and maintain a directory of suppliers, contractors and subcontractors.
  • Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.
  • Conduct special studies to develop and establish standard hour and related cost data or to effect cost reduction.

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What other tasks a Cost Estimators may have

  • Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.

  • Visit site and record information about access, drainage and topography, and availability of services such as water and electricity.

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Top reasons to use time tracking for Cost Estimators

Organize your paperwork and comply with legal requirements

Use Monitask for complete control over your employees' working hours and get information about the hours worked in the form of convenient reports.
Demonstrating the total number of hours spent each year helps support your business and increases transparency with your customers.

Receive more grants and investments

Proper time calculations will ensure that you have supporting documents and data to show when you apply for investments or search for new strategic partners.

Save on payroll and identify bottlenecks

Review daily timesheets and productivity scores to identify bottlenecks and ways to improve your operations quickly.
Implementing the correct time-tracking solution always results in reduced payroll costs for part-time and full-time employees, and companies can get more things done for each dollar they invest in their recruitment efforts.

Improve staffing and scheduling

Scheduling takes the guesswork out of the project's management.
By reviewing scheduling reports, managers can quickly identify efforts and estimated the workforce needed to complete the projects on time.

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