Construction companies, as well as subcontractors, get most of their jobs thru bidding. A construction bid is a process where the construction form presents a potential client with a proposal or a tender to build a building or manage a construction project. And, although bids are not chosen on the basis of cost alone, contractors that submit the lowest tenders tend to wind the contract and win the project.
In construction bids, the contractors have one golden rule: Start with highly accurate cost estimates and then, submit the lowest bid. And this starts with looking at the construction plans (which are provided by the would-be client) and performing a material quantity takeoff. If the contractor estimates the project too high, he might lose the bid altogether. But, if the contractor bids too low, he might end up losing money.
One of the best ways of ensuring that your estimates are accurate, save for having a good estimator on your team is by using a tender management software.