Blog Post

Why Construction Professionals Should Embrace Formulas and Parameters in Their Business

By: Taylor Crosby

In the fast-paced world of construction, time is of the essence and accuracy is paramount. Construction professionals face increasing pressure to complete projects on tight deadlines and within budget. To tackle these challenges, it's crucial for industry experts to adopt strategies that streamline processes and enhance productivity.

One powerful tool that can revolutionize the way construction professionals manage their operations is the use of formulas and parameters. Below, we explore the benefits of incorporating formulas into your construction business and how they can elevate your efficiency and accuracy to new heights.

Improve Estimates and Bidding

Create detailed cost estimates for labor, materials, and equipment, taking into account variables such as market prices, project timelines, and labor rates, enabling more accurate and competitive bids.

Improve Project Planning and Scheduling

Better calculate task dependencies, resource availability, and deadlines, allowing for better coordination, reduced conflicts, and improved overall project efficiency.

Streamline Material Quantity Management

Calculate precise material quantities based on project specifications, minimizing costly errors and ensuring optimal resource allocation, improving inventory management, reducing waste and unnecessary expenses.

Enhance Financial Management

Create comprehensive financial models that factor in relevant variables such as labor costs, material expenses, and overheads, allowing for more accurate budgeting, cost tracking, and forecasting.

Allocate Resources Efficiently

Optimize resource utilization, considering factors such as worker availability, equipment capacities, and project requirements. By using formulas to calculate resource requirements and availability, construction professionals can prevent bottlenecks, reduce downtime, and ensure a smooth workflow.

Improved Quality Control

Set quality standards, develop checklists, and create benchmarks, ensuring that each step of the construction process meets regulatory standards and client expectations.

Take full advantage of the JobTread formulas feature to:

  • Add formulas to cost item quantities, unit costs, and unit prices
  • Create 3 types of custom job parameters that can be referenced in a formula: numerical, picklist, and formula
  • Automatically create numerical job parameters on the fly while writing a formula
  • Pull parent cost group quantities into cost item formulas
  • Reference other cost item details such as quantity, unit cost, unit price, or custom fields in a cost item formula

Common Formulas to Get Started

Here are a few formulas to help you get started. JobTread Pros can easily access formula templates from the Help Desk.

Wiring by Fixtures Count and then LF, and then CFM
Total LF of Wiring
Fixtures Count * Not to Exceed LF Allowance + Homeruns with NTE LF Allowance
Linear Foot of Wire into Spools
Spool Count
Total LF of Wire (by gauge or assumed) / Spool Length (typical 500LF)
Wood Framing
Horizontal Studs: By Count
Count of Horizontal Studs
(Wall Height in Linear Foot / Horizontal Stud Spacing)
Horizontal Studs: By Linear Foot
Total LF of Studs
Stud Length + [WASTE(Total LF of Stud * Waste%)]
Veritcal Studs: By Count
Count of Veritcal Studs
(Wall Length / Vertical Stud Spacing)
Vertical Studs: By Linear Foot
Total LF of Studs
Stud Count * Stud Length + [WASTE(Total LF of Stud * Waste%)]
Drywall: By Sheet
Sheet Count
(Linear Foot of Wall * Wall Height) / (Drywall Sheet Width * Drywall Sheet Height)

Unleash the power of formulas and parameters in your construction estimating and takeoff process. Elevate your projects, boost your confidence, and redefine your estimating workflow. The future of construction estimating is here, and it's more powerful than ever. Request a demo to learn more or Sign up today.

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