A Principle of Estimating: Accuracy Over Speed

In the fast-paced world of estimating, it’s easy to feel pressure to turn around bids quickly to stay competitive. But here’s the hard truth: speed means nothing if your numbers are off.

A principle I follow (and teach) in estimating is: Accuracy Over Speed.

Here’s why:

• A rushed bid can cost you the project. If your estimate is too high, you lose the bid. Too low? You risk major losses if awarded the project.

• Accurate estimates build trust. Clients and contractors value reliability. When your bids consistently align with project outcomes, you build a reputation that wins repeat business.

• Speed will come naturally with experience. As you refine your process and use the right tools, your accuracy AND speed will improve over time.

So, how do you stay accurate without sacrificing time?

1️⃣ Double-check your takeoffs and calculations—always.

2️⃣ Break down each phase of the project to avoid overlooking costs.

3️⃣ Use software and templates to streamline repetitive tasks.

4️⃣ Take the time to clarify assumptions with clients before finalizing.

Remember: It’s better to spend an extra hour refining your numbers than to waste weeks managing the fallout from a bad estimate.

What’s your approach to balancing speed and accuracy in your estimates? Let’s discuss in the comments below!

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