By Pete Melucci
Abstract
The construction industry lacks standardization and clear best practices when it comes to formulating estimates, particularly in the mechanical, electrical, and plumbing (MEP) trades. In this paper, noted MEP estimating expert Pete Melucci provides an overview of how estimates are typically produced on construction projects, identifies the drawbacks of the conventional and non-standardized approaches, and argues for the wider incorporation of published metrics into the practice of estimate formulation. You will learn why published metrics are so valuable in producing estimates, and how their widespread adoption will enable the estimating process — and construction projects overall — to be more efficient, reliable, and transparent.
