Factors that Affect Cost Estimates for Concrete Constructions

Cost estimation is anything but simple, and for concrete constructions in NYC, preparation of precise and accurate cost estimates, even for the experienced cement contractors like Tony’s Masonry, requires sufficient time and effort.

Commercial and residential concrete project costs are influenced by different factors, a few of which are common for both.

What are those factors, let’s find out-

Material Costs

Costs of materials and supplies and the associated shipping charges influence the cost of any concrete construction project.

Labor Rates

The local labor rates or wages specified by the state affect the expenditure of a project.

Site Conditions

According to most cement contractors in NYC, project estimates may shoot up if site conditions are not ideal. Poor soil quality, wetlands, contamination, utility, environmental and traffic issues are few examples in this category.

Economic Factors

Inflation can wreak havoc on project cost estimates- The Construction Cost Index, published by ENR (Engineering News Record) gives a tabulated account of how inflation has affected the concrete construction industry in the past.

Timing of Bid

Cement contractors say that seasonal disparities in construction and clashes with other bid openings affect project costs in NYC.

Schedule

If the project schedule is too small for the type of work involved, then project costs tend to be on the higher side. This is especially true for projects with a significant liquidated damage clause in their contracts.

Contingency

A 10% contingency fund of the total expenditure is generally set aside by cement contractors in and around NYC to cover unforeseen costs. However, inflation and scarcity of materials and supplies might require a higher contingency of the range of 15-20%.