HD Estimating is used by owners, EPCMs, and contractors to establish standard processes and estimating methodologies and build cost models. Keep your capital project information accurate and organized with:
- Role-based templates
- Common views
- Central resource rates
- Industry-specific libraries
- RSMeans included at no additional cost
Benchmark Against Historical Performance
Compare cost and productivity values in the current estimate to benchmark values from historical data. HD Estimating is the only estimating tool with this option. Streamline estimate reviews by instantly spotting variances from historic performance. Historical cost libraries centralize estimate and as-built data to create accurate templates, reducing the time spent creating new estimates. Reference historical estimates by activity, resource type, location, geography, discipline, work package, or other components.
Leverage Multiple Cost Model Sources
Single Entry for Vendor Pricing & Resource Rates
Take advantage of regularly updated vendor resource rates from ERP, finance, and external systems to maintain current pricing and accurate projected costs. Rates automatically update the library on a scheduled basis to address dynamic external cost influences.
Compare Estimates to Industry Data Libraries
Leverage third-party data libraries by vertical, with built-in support for Richardson Cost Estimating Standards, RSMeans, InfoMine’s CostMine, and other industry data sources. Utilize benchmark cost and productivity data libraries for infrastructure, shutdown-turnaround maintenance, environmental, oil & gas, utilities, industrial, and mining. RSMeans is included with HD Estimating at no additional charge.
Drive Costs from Design System Quantities
The design integrator utilizes the power of On Center On-Screen Takeoff to bring assemblies, quantities, and design components directly into the estimate. In addition, HD Estimating can import data from RIBMC2 ICE.
Create a seamless connection from takeoff to estimate. HD Estimating recognizes changes and new additions to the design, and can track and associate design items with labor, material, and equipment assemblies. The change log provides an audit trail by design category.
Link Excel Workbook Calculations
We recognize the need to utilize Excel workbooks on occasion to drive takeoff quantities, and to receive data from outside vendors. When values are updated in an Excel workbook, HD Estimating picks up the changes and updates the cost model with new quantities and costs. Workbooks are stored in the HD Estimating database for single data and version control. Change logs identify all modifications to the estimate.
Request and Manage Quotes
Analyze multiple quotes simultaneously to select and award vendors at the activity or project level. Quote management sends quote requests to vendors by email or by fax. Quote comparison reviews activities by vendor, and work types can be split or combined for each vendor. Minority goal attainment analysis and minority participation are tracked through awarded quotes.
Create Estimates from Schedules
Create estimates directly from a Primavera P6, MS Project, or CAE Studio 5D Planner schedule using available connectivity. Schedules can provide a starting point for activities within the estimate including start and finish dates. Resources, roles, assemblies, costs, productivity, and phases can be built in the estimate, and then passed back to the schedule with dynamic scheduling integration to create a library of centralized roles, resources, and other data.
Maintain Live Schedule and Scope Updates
Leverage available connectivity to keep estimates updated with scheduling changes while keeping the schedule updated with scope changes from the current budget. Live interaction with Primavera P6, MS Project, or CAE Studio 5D Planner simplifies cost and resource loading the schedule, enabling accurate updates to scope and schedule in seconds.
Build Estimated Productivity with “What if” Analysis
HD Estimating calculates productivity from multiple resources including days, shifts, hours, man-hours, equipment hours, unit of measure per day, man count, equipment count, and other production resources. Data-driven “what if” factors define production of cost items to automatically generate unit and total cost. With production factors in place, quantities are applied to costs against unit of measures to build total costs.
Create Multi-Currency Projects, Activities, and/or Resources
Assign multiple currencies at the activity and resource level to include exchange rates, local currency symbols, and “last changed” modification dates. View currencies as entered in the local currency or in alternate country currency to understand the true cost of projects at current exchange rates. Track the impact of currency fluctuations over long duration projects and the effect on profits and cash flow.
Standardize Work Breakdown Structures
Create standard template projects with similar work types to establish a common work breakdown structure (WBS). Apply cost and productivity factors including geography, labor rates, rental rates, wage zones, tax zones, resource production factors, equipment rates, craft types, and other factors to create unique cost estimates while maintaining a core work structure.
Maintain Centralized Resource Libraries
Create standard resource libraries. Enable direct access to multiple resources and rates with centralized codes, descriptions, units of measure, quantities, unit cost scales, and periods to better organize and manage resources. Create predefined crews and assemblies. Connect equipment related resources to establish direct relationships between fuel cost and consumption rates that impact the overall project cost.
Automate Master Resource Rate Updates
Receive automated rates from vendor feeds to ensure current estimated rates match updated vendor prices including material, equipment, and labor rates. Receive updates with or without affecting existing projects. Update the master resource rate library from a single project, applying new rates to new or existing projects.
Apply Attributes to Resource Rates
With a work structure and standard rate in place, HD Estimating simplifies the process of categorizing resources that include geographic areas, wage zones, account codes, cost drivers, currency, default quantities, and cost curve data. Notes, flex fields, and change tracking are attached to each resource item within the project.
Flexible Pricing and Overhead Allocation
Spread markup and overhead numerous ways, handle last minute changes, and manipulate pay-item prices to pay items quickly. Add direct and indirect overhead, cost escalations, and profit calculations to projects. Gain complete control over how dollars are allocated back to each individual line item.
Bid and No-Bid Decisions
Analysis reporting allows at-a-glance summaries in order to make bid/no-bid decisions. Analyze available cash flow, view bid success rates and corresponding costs, view summary information about estimate cost, timelines, and potential revenue.