With more than 30,000 electrical contractors in the United
States, competition is fierce. Successful contractors must know
how to manage their projects so they can compete profitably in
today's market. You want to deliver quality service at a
reasonable price; after all, that's what keeps you in business.
Like you, most contractors are concerned about their ability to
be competitive, make money, and stay in business through
reasonably priced quality service. To accomplish this, you must
develop accurate estimates and keep overheads to a minimum. The
estimate is the foundation for project management. The
estimating process generally dictates which contractor receives
electrical work. The contractor with the best-perceived price,
but not necessarily the lowest, usually wins the bid. Because of
these demands, profit margins are limited. This permits you to
have only a small margin for error in the estimate. A proper
estimate must accurately determine your cost in completing the
job according to the customer's ne