White Papers

The Importance of Using Right Tools
By definition, an estimate is an approximate calculation. This inherently infers that there is a certain amount of risk involved with any estimate. Your estimate for costs, effort or duration of any activity will affect the result, so the quality and detail of the information available when preparing an estimate is critical. Few estimators fail because they lack technical knowledge. They fail, all too often simply because they lack control over the detail they need to do their job effectively and because they do not have access to the right tools for the job.
 
Using a software package for estimating can help you reduce your company’s financial risk, whilst providing you with a range of other benefits, many of which may not be apparent at first. This paper highlights some of those benefits.
First principles estimating
The practice of first principles estimating is not a new one, but one of the most important aspects of many businesses today. Many organisations see their first principles estimating system as a key competitive edge and risk-minimisation strategy.
 
This paper explains the basics of first principles estimating, the benefits of it, compares it to the unit rate estimating method, and provides readers with a checklist of key features to look out for when choosing a first principles estimating solution.
Parametric Estimating
Parametric estimating models have the potential to dramatically increase the speed, consistency and accuracy of estimates at the early and concept stage of a project’s lifecycle.
 
This paper highlights a case study of how England’s Highways Agency is utilising the services of Benchmark Estimating in conjunction with a parametric model in Benchmark Estimating Software to assist it in the implementation of its Managed Motorway Programme.