Using your own historical costs makes estimates more accurate. Here is how to build that data.
In this article
Why it matters
Generic pricing guides don't reflect your crews or market. Your own completed jobs show real costs and productivity. Estimates based on history win more profitable work.
Collect job costs
Track labor, materials, equipment and subs by job.
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Cost codes
Use consistent codes across all jobs.
Productivity rates
Hours per unit for common tasks.
Adjust for conditions
Height, access, weather and complexity.
Post-job review
Compare estimate vs actual after each job.
Update
Refresh data regularly.
Compare bids
Use history to check sub quotes.
Share with the field
Field feedback improves data.
An example
A drywall contractor tracked hours per board on 20 jobs and discovered tall ceilings took much longer than estimated. Updated rates fixed margin losses.
Where to start
Choose five common tasks and record actual hours on every job for three months.
Common mistakes
Inconsistent codes, no post-job review and ignoring job conditions.
Know your numbers
Track estimate accuracy by cost code: the difference between estimated and actual cost on finished jobs.
A toolbox for the office
A simple post-job review form, filled out by the PM and superintendent, feeds the estimating database.
Run tighter jobs and win the right ones.
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Frequently asked questions
Why use historical cost data in estimating?
Because your own past costs reflect your crews, methods and markets, making future estimates more realistic than generic pricing guides.