Acquiring work is arguably one of the most important functions in a construction business. Without a consistent source of revenue, there is no company. If the Estimating Department is not set up to succeed, it can’t perform its vital role of creating new revenue.
When it comes to successful project completion, ethical construction estimating plays a crucial role. It's essential to maintain accuracy and ethical practices in carpentry estimating, construction quoting, and architectural estimating. To achieve this, builders can adopt a proactive approach and use construction estimating software to ensure precise and ethical estimates.
There are many Processes, Skills, and Best Practices that a successful construction company employs to win profitable work. However, one characteristic that is the hallmark of a best-in-class company is Ethical business practices.
A contractor’s reputation in the marketplace can mean the difference between staying in business or not. Many General Contractors rely on Subcontractors to perform the majority of the scope of work on their projects. So, it stands to reason that those same subcontractors that they partner with, and the pricing they provide, have a direct impact on the ultimate success and profitability of the General Contractor. Creating an environment where Subcontractors feel they have a fair opportunity to earn the work in the marketplace is critical.
What do we mean by Ethical Estimating practices?
A dictionary definition of Ethics: “The principles of conduct governing an individual or a group.” In a very simple sense, conduct your business and treat your vendors and trade partners the same as you would like to be treated. Trade Contractors and General Contractors often find themselves in the middle between the Owner and the Vendors. Protecting the end user as well as the supply chain is equally important.
A Few Do Nots
A Couple of Do’s
Ethical business practices are the foundation of any good pre-construction effort. Whether you are a General Contractor or Specialty Trade Contractor, Estimators, and Project Managers alike are duty-bound as professionals to behave in ways that make our industry stronger and provide a consistent quality product and value to our Clients and stakeholders.
If you’re ready to get started but aren’t sure where to start, the team at Ascent Consulting is here to help. Book your FREE performance consultation now.
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Ascent Consulting’s mission is to Build Better Construction Companies.
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Construction expert Jeff Robertson brings 30+ years of industry knowledge to his consulting projects. He's worked in many sectors ranging from healthcare and retail to multi-family and senior living.