How To Create A "New" Estimate

Video Tutorial

To create a "new" estimate follow these steps.

1. Navigate to "Estimate" button located at the horizontal top menu options.

2. Press the yellow "Add Estimate" button located on the upper right corner.

3. You have the option to create a "New" or "Copy Existing" estimate. Select the "New" estimate option.

4. Select the existing project for which this estimate will be created. If a new project, press the "New Project" button.

5. If this estimate is for a new project, enter a project name, select a project type and corresponding sub type & enter an address.

6. Type in a "Phase". For example, if this is for one entire project you can type in "All" or "Entire Project" or whatever you deem most appropriate. If this is a phased project you can use this field to type "Phase 1", etc. If you are creating an estimate for a specific building and/or portion of a master development you can type in "Building A", "Building 1", etc.

7. Type in a "Version". For example, it can be "100% DD Budget", "50% CD Budget Update", etc.

8. The "Date" defaults to the date the estimate is generated. You can change as desired.

9. The "Buy Out" date defaults to the date the estimate is generated. This date is critical as it is the date the system will use to apply an effective escalation percentage to the historical project comps (if using historical comps) being used to drive unit costs for the estimate.

10. Select a "Status" from the dropdown. These are labels which typically correspond with the "Version" field. Ie. if creating an estimate based on 100% DD drawings the most applicable option from this dropdown would be "Design Development". These labels are used to help filter project records in various areas of the platform.

11. Select a "Construction Type" from the dropdown. These construction type labels are used to help filter project records in various areas of the platform.

12. Press the yellow "Continue" button located on the lower right corner.

13. Select the appropriate "Template" from the dropdown. The system will automatically select the best and most compatible template based on the project type selected.

14. After the template has been chosen, press the yellow "Continue" button located on the lower right corner.

15. Select the best "comps" for your estimate by pressing the "Add Comp" button located on the lower left corner. Note that the system will initially & automatically suggest comps based on the project type, sub type and construction type selected. "Comps" can be either historical project records or other estimates previously generated. Alternatively you can start from "scratch" with NO "comps".

16. You can have the ability to select your "comps" by using the available filters. These filters will allow you to narrow down your selection based on your specific criteria.

17. Once you are done selecting the desired "comps" press the yellow "Continue" button located on the lower right corner.

18. The "Inputs" step is the area in which you enter all the design data parameters for your estimate. For example, total number of units, gross area of the project, lot size, etc. This "inputs" panel is built in for the template which you selected in step 13 above.

19. After you are finished entering all the design data parameters for your estimate press the yellow "Continue" button located on the lower right corner. Please note that you can enter and/or update design data parameters after pressing continue. Simply open the vertical "input panel" located on the left of the estimate and update as necessary.

Please note that the design data parameters that are part of your input panel are those that drive cost fields and all the other "UOMs" available in the UOM dropdowns in the "Detailed Budget" tab.

Published 9/24/2025.