Thinking About Construction Estimating Books? Here are the Best 5
Have you ever made a house of cards? If you have, you know you must stack each card carefully, or the house will fall. This analogy can be compared to construction project estimates. You have to carefully calculate costs; otherwise, it can have an impact on your bottom line.
And what better way to calculate is by reading a bunch of good books? In this guide, we’ll list the 5 best construction estimating books every construction business owner should read. So, let’s start!
What is Construction Estimating?
Before we move on to the books, let’s start by defining construction estimating. Construction estimating is all about figuring out the total costs of a project before a single shovel hits the ground. It’s the process of evaluating every direct cost, such as materials and labor, indirect costs, like equipment and permits, overhead, and, of course, the contractor’s markup.
It’s one of the earliest and most important steps in any construction management process. This is because the estimate forecasts all the costs involved in turning a project plan into a finished structure.
After the estimating phase, contractors move into the bid estimation stage. This is where all the gathered documents, historical data, and cost details are noted to create a forecast.
Getting this estimate right directly impacts the project’s bottom line and sets the tone for profitability. And with competition among contractors being fierce, you have to come up with the right estimates to win more projects.
We have a detailed guide on how to estimate a remodeling job, so make sure to check it after this.
5 Best Construction Estimating Books
Did you know that 91.5% of large projects exceed their budget, schedule, or both? That’s an astounding stat, especially when you consider how avoidable it is with the right knowledge. Speaking of which, here are the 5 best construction estimating books.
1. Standard Estimating Practice by the American Society of Professional Estimators
If there’s one resource every construction professional should have on their shelf, it’s this comprehensive three-volume guide. Created by industry experts under the leadership of the American Society of Professional Estimators, this reference set takes you through the entire world of construction cost estimating.
The first volume lays the groundwork by introducing the fundamentals of estimating. It provides clear, step-by-step instructions for scoping out a project and mastering bid-day procedures. It even dives into advanced concepts like Value Engineering and Building Information Modeling (BIM).
The second volume shifts the focus to trade-specific estimating. It tackles hard-to-quantify tasks like erosion control and power generation using real-world case studies.
The final volume is all about conceptual estimating. Through deep-dive case studies, it explores diverse projects like auditoriums, fire stations, and parking garages. Each case study highlights the unique challenges estimators face and how to overcome them effectively.
2. Estimating Construction Profitably by Michael C. Stone
If you’re estimating for remodeling, renovation projects, new homes, specialty work, or light commercial builds, this book is made for you. Michael C. Stone provides a clear, practical approach to simplify your estimating process and boost your profitability.
The book is divided into short chapters, which cover everything you need to know, including:
- Proven methods for accurate estimating
- Key details to lock down before you begin
- Calculating labor rates and which one to use
- Collaborating with other contractors
- Accounting for potential errors and adjusting for complexity
- Material and installation allowances
The beauty of Stone’s approach is its simplicity. It removes the guesswork and allows you to focus on delivering precise, repeatable estimates.
3. DEWALT Construction Estimating Complete Handbook by Adam Ding
Packed with practical tools and insights, this handbook is your go-to guide for mastering the art of construction estimating. It’s loaded with tips, checklists, worksheets, data tables, and step-by-step tutorials designed to simplify every stage of the estimating process.
The book focuses on how-to essentials and provides quick answers and visual examples. Some of the topics discussed in this book are:
- Marketing and bid planning
- Drawing and scope review
- Quantity take-offs and pricing
- Quote evaluations and cost summaries
- Bid closing strategies for all trades and divisions
This handbook stands out because of its real-world approach to solving modern challenges in the construction industry. It focuses on managing material price volatility, skilled labor shortages, strict regulations, and competition.
The book also bridges the gap between estimating and project management, covering critical topics like overhead expenses, value engineering, turnover meetings, and change order pricing.
4. Estimating Home Construction Costs by Jerry Householder
Custom builder Jerry Householder brings years of experience to this practical guide. Teaming up with builder Emile Marchive III, Householder dives into:
- Different types of estimates and when to use them
- Easy-to-follow tips and formulas for accurate quantity takeoffs
- Strategies for integrating estimating with cost control, purchasing, and scheduling
- How to leverage computer estimating to streamline your workflow
- Building and maintaining a database to simplify future estimates
The second edition features updated tools, including a larger sample floor plan, new elevations, worksheets, checklists, a comprehensive glossary, and a curated list of additional resources. It’s all the support you need to grasp the concepts and terms that will make your next estimate more precise and easier to manage.
The book aims to help you bring your projects in under budget while saving time and resources.
5. Defensive Estimating: Protecting Your Profits by Bill Asdal
When it comes to estimating, it’s not just about getting the numbers right it’s about safeguarding your bottom line. In this insightful guide, master builder and business expert Bill Asdal shows builders and remodelers how to estimate by focusing on fiscal goals.
Some of the points discussed in this book are:
- Reviewing and refining business processes to align with financial targets
- Protecting profits by eliminating careless mistakes and short-sighted decisions
- Defending every line in an estimate to ensure consistent, bankable results
Asdal’s methods will help you create estimates that win bids and protect your company’s long-term financial health.
Final Thoughts
So, these are the 5 best construction estimating books you can read. We need to remember that construction estimating is an important part of project planning, and without it damages your bottom line. So, pick a book (or two) from this list, dive in, and start estimating like a pro.
Speaking of pros, we know sometimes, business can get messy, and you need an extra hand for smoother operations. Tangent Consulting has years of experience as a fractional CFO, business coach, and tax consultant. With us, you don’t need to hire an accountant or business coach separately; you can get both in one place.
P.S. If you are reading this, it means you can have access to our free consultation for your business. Avail this for free today before we change our mind 😉
FAQs
Why is estimating important in construction?
Estimating ensures accurate budgeting, prevents cost overruns, and helps contractors create competitive bids.
What percent of the total construction cost is labor?
Depending on the project type, labor typically accounts for 20% to 40% of the total construction cost.
How does software help in construction accounting?
Accounting software streamlines tasks like tracking expenses, managing budgets, generating invoices, and ensuring accurate financial reporting.
