What is a conceptual estimate?
A conceptual estimate is a cost estimate produced before design drawings exist, from what is known about the project at that stage. Folio's Conceptual Estimate, coming soon, will produce a cost estimate for developers from a short questionnaire about the project.
THE OLD WAY
The first number is a guess, and it sticks.
Before drawings exist, the budget comes from a rule of thumb or a call to a contractor. That number becomes the pro forma, and every later estimate is measured against it.
Conceptual Estimate in Folio is coming soon. It is designed to give developers a structured starting number from a short questionnaire.
WHAT IT WILL DO
Planned for Conceptual Estimate.
A short questionnaire
Describe the project in a few answers. No drawings required.
Why it matters: The earliest decisions are made with the least information. A structured start helps.
A cost estimate to work from
A cost estimate produced from the questionnaire answers.
Why it matters: A documented first number is one you can revisit when drawings arrive.
Carries into the Folio workflow
When drawings exist, Drawing Intelligence, Estimate and Bid Leveling pick up where the conceptual number left off.
Why it matters: One record from first idea to contractor proposal.
FAQ
Common questions
Conceptual Estimate is coming soon.
Talk to Sales to hear when it ships and see what Folio does for developers today.
Or email us at connect@joinfolio.ai