Why Construction Professionals Should Embrace Formulas and Parameters in Their BusinessBy: 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.
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.
Better calculate task dependencies, resource availability, and deadlines, allowing for better coordination, reduced conflicts, and improved overall project efficiency.
Calculate precise material quantities based on project specifications, minimizing costly errors and ensuring optimal resource allocation, improving inventory management, reducing waste and unnecessary expenses.
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.
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.
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.Demolition
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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