Many construction companies work tirelessly to put together incredible presentations for Owners to win new projects. But when they get back to the office, the proposal, along with the estimate, is filed away in a three-drawer cabinet, never to be seen again. That estimate contains all the latest material, resources and labor pricing in the market, along with a wealth of project details. But will anyone ever access it again?
What could your company do with that data if it was easily searchable, easily pegged to an inflationary index, and could be leveraged to benchmark new estimates, provide sanity checks for new bids, or even referenced in Owner proposals to highlight project expertise? Harnessing this estimating data allows you more time to craft and fine-tune your next estimate — not struggle to get it in under the wire. Even feasibility budgets are given much more real-world credibility based on these quantities and costs.
Modelogix is a stand-alone application with a MS SQL database engine. This means it works with every construction-estimating solution in the market: WinEst, Timberline, Vico Office, MC2, US Cost, and even Excel. As with any database, it is critical that data is entered cleanly with a pre-defined nomenclature. The Modelogix attribute filter allows you to do this. Think of it as cross-tagging your projects by industry, by construction type, by geography, etc. By thoroughly indexing your projects as you load them into Modelogix, you’ll be able to instantly call them up in a project filter ten years from now!
Another key concept is normalizing your project cost database to inflation and location. This makes that ten-year-old project relevant again and help you compare apples-to-apples no matter the labor/equipment/materials costs per geography. Again, the Modelogix set-up allows you to do this from the get-go. This means that importing past projects, searching and reporting data is available immediately for your new cost models.
With this wealth of past-project data, estimators can create new cost models for feasibility budgets, benchmark new estimates and identify pricing variances, and even sanity-check a new budget to ensure that all scope is covered. By better understanding cost variances, estimators can better identify project risk, suggest value engineering ideas, and even present multiple options to the Owner. And in bid situations, creating these helpful options illustrate your firm’s knowledge, experience, and partnering capabilities.
Reporting in Modelogix is also very easy to set-up and design. Report templates consist of project images, charts, graphs, side-by-side comparisons and even cover sheets and a table of contents. Users can create any layout they want and populate the data from their cost model and comparable projects. Owners appreciate seeing this real-world project experience alongside the estimate in a format that is polished, professional and easy to read.
We believe Modelogix is a must-have for every construction estimating department. Please take advantage of our resources to learn more about this solution and how your team would use it.