Updating Other Unit Costs

Updating Other Items

Once or twice a year it's a good idea to check the BidMagic construction estimating software to make sure that your basic operating costs are still current.

To do so, follow these steps:

1. Open BidMagic or an estimating template that you have created from it. If you are asked to enter a project name, click Cancel so you can work on the template itself.
2. Choose Overhead from the Navigate menu.
3. Calculate the latest Overhead, Profit and Contingency percentages for your business, and enter them into the appropriate fields.
4. Choose Soft Costs from the Navigate menu.
5. Enter the current inflation rate, or your best guess at where prices will be headed in the near future.
6. Make sure the Supervision percentages and other soft costs are correct.
7. If you use more than one estimating template, repeat steps 1 to 6 for each template.