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Creating and Managing Estimates

Step-by-step guide to building detailed project estimates and getting them approved.

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Step 1 of 5

What Is an Estimate?

Understand how estimates work in the CBPM workflow.

Step-by-Step Instructions

  1. 1

    An estimate is your formal bid for a construction contract.

  2. 2

    It itemizes the cost of labor, materials, and overheads for the project.

  3. 3

    The contract owner uses your estimate to decide whether to assign the project to you.

  4. 4

    Only one estimate per contractor per contract can be accepted.

  5. 5

    Accepted estimates mark the start of the working relationship.

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