Privv employs an advanced estimating process that incorporates closed-loop cost estimating and automation to generate accurate project estimates efficiently. This process involves analyzing several project parameters, such as category, type, location, year and square footage, to develop a comprehensive estimate.
Our automation process is well-defined and relies on archived source data from previous projects, which is combined with construction cost index inflation rates to establish a baseline cost estimate. The software then applies this baseline estimate to the initial project inputs to generate a preliminary estimate.
As new, relevant source data is added to the system over time, the quality of the cost estimates increases, and the accuracy of future estimates improves. This approach significantly reduces the time, expertise and effort required to create estimates manually while ensuring that our clients receive accurate and reliable estimates that are based on proven data and industry standards.
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