Electrical Estimating Maximkostenko/iStock/Thinkstock

How to Make a Good Estimate Even Better

A focus on labor productivity can improve profits.

The goal of estimating is to provide a quality estimate with a price that will allow the company to make a profit. Contractors should be in business to make a profit, not to win bids. When an estimator provides a quality successful low bid, the office atmosphere is filled with excitement. Now it’s time for management, the project manager, and the foreman to focus on making a profit.

As a contractor, you have several ways to increase profit on a project:

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