Ensure cost accuracy with quantity estimation outsourcing

When it comes to managing costs in any project, accuracy is crucial. Every company wants to ensure that they have an accurate estimation of the materials, labor, and other expenses required to complete a project.

This is where quantity estimation comes in. However, handling this process in-house can be time-consuming and resource-intensive. 

That’s where outsourcing quantity estimation services can make a significant difference.

In this quick guide, we’ll explore what quantity estimation entails and the types of services that can be outsourced.

What is quantity estimation?

Quantity estimation involves determining the quantities of materials, labor, and resources required for a project or task.

It serves as the foundation for cost estimation, project planning, and resource allocation. Normally, estimation processes are done in the architecture, engineering, and construction (AEC) industry.

By accurately estimating quantities, project managers can ensure that they procure the right amount of materials and allocate resources efficiently. As a result, the process minimizes waste and cost overruns.

Types of quantity estimation services that can be outsourced

Outsourcing cost estimation services offers a range of options to suit different project requirements.

Here are some common types of quantity estimation solutions that can be delegated to a trusted provider like Sourcefit:

Building estimation

Building estimation is crucial in the construction industry. It involves estimating the materials and labor required for building projects.

Electrical estimation

Electrical estimation involves gauging the cost and quantity of electrical materials. It also covers estimating the labor required for electrical installations.

Project estimation

Project estimation is a broader term that encompasses the estimation of materials, labor, and other resources for any type of project.

By outsourcing this service, companies can get accurate cost approximations for various projects, such as software development and infrastructure development.

Chief estimation

Chief estimators are experienced professionals who oversee and manage the estimation process.

Delegating chief estimation services ensures the cost estimation process is handled by experts with the knowledge and skills to provide accurate estimates.

Junior estimation

Junior estimators work under the guidance and supervision of senior estimators. Farming out their services can be beneficial for companies that need additional support in estimating the costs of their projects.

Quantity surveyor

Quantity surveyors are professionals who specialize in estimating and managing costs throughout the entire project lifecycle.

Outsourcing this role lets firms have a dedicated expert who can accurately calculate costs and manage the project’s budget.

Cost engineering

Cost engineering combines engineering and cost estimation to provide accurate cost gauges for projects.

Cost engineers collaborate closely with project managers to create precise cost estimates, assess risks, and suggest cost-efficient alternatives.

Project management

Project management involves managing all aspects of a project, including cost estimation. Companies can have a team of experienced professionals who can handle the entire project lifecycle through outsourcing.

Benefits of outsourcing quantity estimation services

Outsourcing quantity estimation services can provide several benefits to companies:

Lessens cost and use of resources

Outsourcing estimation solutions can save costs on hiring and training in-house estimators. This approach allows companies to access a pool of skilled professionals who can provide accurate cost estimates at a lower cost.

Access to expertise

By partnering with experienced providers, clients gain access to specialized expertise. These professionals possess in-depth knowledge in quantity estimation techniques, software, and best practices.

Improves accuracy

Delegating quantity estimation services to experts ensures companies receive accurate cost estimates for their projects. This accuracy helps companies in making informed decisions about resource allocation and budget planning.

Saves time

Estimating the quantity of materials and labor required for a project can be a time-consuming process. By outsourcing this task, businesses can save time and focus on other core areas of their operations.

Allows for seamless adaptation

Outsourcing allows organizations to scale their quantity estimation efforts up or down based on project demands. They can do so without worrying about the need for additional hiring or training.

Outsource quantity estimation with Sourcefit

Accurate cost estimation is essential for any project’s success. 

Outsourcing quantity estimation services to renowned third-party providers like Sourcefit lets companies enjoy the benefits we’ve listed above.

Sourcefit is a leading BPO company that offers specialized services involving cost estimation.

Whether it’s building estimation, electrical estimation, or project estimation, working with a reliable partner like Sourcefit can help you achieve your cost accuracy goals.

It understands that estimation requires specialized skills, and finding the right people to handle the job can be challenging. That’s why partnering with Sourcefit is an excellent way to manage costs and ensure project profitability from the outset.

This company will cover everything from electrical, building, and engineering contracting as well as estimating, consulting, and training.

Contact Sourcefit today and learn more about how this trusted provider can support your quantity estimation needs.