Even though best advanced technology is not a replacement for good estimator judgment, smart technology systems generate cost and budget estimating automatically in minutes or hours instead of weeks or months. Using information technology beside professional estimating engineers have many advantages like the following:
Due to the competitiveness of the market today, it has become important for (businesses) construction companies to keep tracking of stored materials, and labor needs. Being a difficult task for manual operations, the software has made it possible to provide almost perfect results for data such as labor costs and the volume and number of equipment needed.
When using software, it is possible to create a set of formulas to be used in various projects. It is also easy to maintain a database with information such as costs, which can be updated appropriately when the numbers change. This makes sure that there is consistency in the data provided in every project, therefore increasing reliability.
By using the suitable software, it is possible to make a couple of operations that would be rather difficult to undertake in manual cost estimation. For instance, changes in cost and other adjustments can be done easily. It is also possible to access data on demand.
Due to the accuracy of the software, it is possible to effectively measure the delivery of materials and labor management becomes easy. The acute outlining of the materials, other equipment, and labor aids in prevention of resource wastage and utilization of resources. (It is, therefore,) Therefore, it is more appealing to the clients using IT in cost estimation.
The Speed, accuracy, and general (presentability) of software-based (projects) make the use of IT in construction cost management estimation is more efficient than traditional methods. The efficiency in this process also translates to the dedication of precious time and resources to other aspects of the projects (ProEst 2018).