Page 278 - TCDB combined Book

Chapter 4 ESTIMATING 255

Job Cost Records:

The use of accurate job-cost information is invaluable when preparing proposal estimates.
The cliche of "garbage in," "garbage out" applies here. Unless there is an exacting control over
the accuracy of your job-cost reporting we recommend close scrutiny when implementing this
estimating tool.

The estimating information that you can expect to use from your accurate job-cost
records includes the following.

Labor Man-hours and Costs

Material Costs and Unit Prices

Subcontractor Costs and Unit Price

Professional Fees

Using results from your accurate historical data and job-cost records should help
eliminate risks. Accurate information and confident decisions regarding labor, material and
subcontractor input will always be required when preparing an estimate. The key point for using
your job-cost records and historical data is verification as being reliable for future estimating.

Job-cost records and historical data will also be needed for updating the unit prices
included in your estimating database whether you are using the traditional or computer
estimating method.