Bid Costing & Estimation
Construction bid pricing: How AI estimates your tender costs?
In the construction industry, pricing a tender is a crucial step that traditionally requires many hours of expertise. Artificial intelligence now opens new perspectives to accelerate this technical estimation phase, while leaving the final decision involving strategic and commercial factors to the experts.
Automated Documentation Analysis
The challenge of technical pricing lies in the thorough analysis of often voluminous documentation. AI excels at this task by automatically extracting essential information:
- Required material quantities
- Technical specifications
- Standards to be met
- Specific project constraints
Within minutes, it can scan hundreds of pages to build a solid estimation foundation.
Leveraging Historical Data
To establish a relevant estimate, AI can also leverage historical data from similar projects. By analyzing past responses, it identifies price trends and adjusts estimates based on market developments. This approach provides a first level of pricing based on real, up-to-date data.
The Importance of Human Expertise
However, it's essential to understand that the technical estimate generated by AI represents only part of the equation. Many contextual factors require human expertise to refine the final price:
- The company's competitive position
- Project strategic stakes
- Relationship with the project owner
- Site-specific aspects (accessibility, logistical constraints)
Cost Variability Factors
Costs also vary according to complex parameters:
- Price degression based on volumes
- Geographical disparities
- Inflation
- Tensions on certain raw materials
- Construction market trends
These elements, combined with human factors, make final pricing a deeply strategic exercise.
An Efficient Hybrid Approach
AI thus positions itself as a valuable assistant to accelerate the technical estimation phase, allowing experts to focus their time and expertise on strategic analysis and final decision-making. This hybrid approach, combining AI's computing power with industry professionals' expertise, represents the future of pricing in the construction sector.