In this program, participants will discuss all the phases of the estimating process. This course covers the various aspects of preparing and submitting a competitive bid. Key topics include identifying desirable bid opportunities, analyzing the company's capabilities to ensure profitable results, the estimator’s role at various stages of the project, writing an effective scope letter, and identifying often hidden costs in the bid documents.
Building upon the principles taught in NECA's Basic Estimating course. Advanced Estimating Stratagies focuses on the strategy and business decisions made during the estimating and bidding process. The course intends to help estimators and managers think strategically in how they find, evaluate, and bid on electrical construction projects. Participants of this course should already have an understanding and experience in estimating and bidding on electrical construction projects. This program is recommended for individuals who have successfully completed the Basic Estimating in Electrical Construction course or have similar industry experience.
Through active participation and completion of this course, participants will be able to:
- Explain the estimator's role and responsibilities throughout the bidding process.
- Define estimating terminology.
- Evaluate bidding opportunities for the most desirable projects.
- Analyze factors that have effects on cost and labor productivity.
- Evaluate the potential risk factors of a project.
- Discuss the risk and responsibilities identified in the project specifications, labor agreements, scope letters, and standard contracts.
- Describe the difference between overhead and profit and how they are applied to estimates.
Target audience: Individuals with a firm grasp of basic estimating principles and experience preparing bids.
Prerequisite: Basic Estimating of Electrical Construction
This class will take place virtually over the course of 4 days. Participants are required to participate in each class session and complete all homework.
- Tuesday, January 17, 1:00 PM - 4:00 PM ET - Session 1: Introductions, Course Overview, and Identifying desirable opportunities.
- Wednesday, January 18, 1:00 PM - 4:00 PM ET - Session 2: Considerations when bidding on projects, cost components of the estimate, and labor productivity
- Thursday, January 19, 1:00 PM - 4:00 PM ET- Session 3: Pre-bid meetings, scope letters, and costs summary
- Friday, January 20, 1:00 PM - 4:00 PM ET Session 4: Overhead vs. profit, markup vs. margin, and post-bid responsibilities