Factors that Affect Cost Estimates for Concrete Constructions
Cost estimation is anything but simple, and for concrete constructions in NYC, preparation of precise and accurate cost estimates, even for the experienced cement contractors like Tony’s Masonry, requires sufficient time and effort.
Commercial and residential concrete project costs are influenced by different factors, a few of which are common for both. For example, will your construction require the use of Wisconsin concrete cutting services? This is just one of many factors to consider.
What are those other factors? let’s find out-
Costs of materials and supplies and the associated shipping charges influence the cost of any concrete construction project.
The local labor rates or wages specified by the state affect the expenditure of a project. However the bill for these rates will be calculated correctly thanks to the use of construction timesheet software by similar solution providers like Raken, this software allows construction employees to record their time on the job digitally, allowing for a correct labor cost.
According to most cement contractors in NYC, project estimates may shoot up if site conditions are not ideal. Poor soil quality, wetlands, contamination, utility, environmental and traffic issues are few examples in this category.
Inflation can wreak havoc on project cost estimates- The Construction Cost Index, published by ENR (Engineering News Record) gives a tabulated account of how inflation has affected the concrete construction industry in the past.
Timing of Bid
Cement contractors say that seasonal disparities in construction and clashes with other bid openings affect project costs in NYC.
If the project schedule is too small for the type of work involved, then project costs tend to be on the higher side. This is especially true for projects with a significant liquidated damage clause in their contracts.
A 10% contingency fund of the total expenditure is generally set aside by cement contractors in and around NYC to cover unforeseen costs. However, inflation and scarcity of materials and supplies might require a higher contingency of the range of 15-20%.