Accurate cost estimates require data well beyond materials costs. Key information such as city cost indexes, productivity rates, crew composition, contractor’s overhead and profit rates is needed for a complete estimate. The amount of data needed can be overwhelming, however, and while a book format can easily accommodate this information, an electronic format, such as CD-ROM or online software, can provide added enhancements and advantages for productivity.

Search
Search capabilities in CD-ROM and online software present the most striking advantage over book format. Good software should allow you to quickly search and narrow results by criteria of your choosing, such as by keyword or city. For example, RSMeans CostWorks, a cost estimating software solution available on both CD and online, allows the user to localize cost to one of the 983 zip code/postal locations from their City Cost Indexes (CCI).

Data Exports
Manipulation of data is another advantage of an electronic format. Ideally, search results can be exported to a spreadsheet or as an ASCII text file for further refinement. In RSMeans CostWorks, search results can initially be added to a notepad-like tool called a CostList, which has sum and sort capabilities. If additional manipulation is required, the data can then be exported to a spreadsheet or text format for use in word-processing, graphics or layout software.

Updates
Online cost estimating tools not only provide all of the advantages of a CD-ROM, but additional productivity features as well. While a CD-ROM may include an update feature, an online database should provide continual updates of data ensure accuracy and allow for recent market and price fluctuations.

Interactivity
Changing technology continually allows increased interactivity with databases and other media. A user can now parse and edit data for specific uses. A unique feature of the online cost estimate software MeansCostWorks.com gives the user the ability to create individual cost databases by customizing an RSMeans Cost Book. The user can input their own costs and compare those with a display of RSMeans information. The user can then apply any new costs and percentages to their own data, increasing accuracy for a particular need or project.

Collaboration
Online software is typically able to be accessed from any computer, and if the software has multi-user capabilities, the possible collaboration between team members can be a time and money saver. MeansCostWorks.com provides the option of saving work to Personal and Shared folders. Shared Folders contain estimates from different users within an organization, and allow users to work together on the same estimate. In addition to being able to collaborate on estimates, the user can also work separately and then merge two estimates into one. When the merged estimate is saved to the Shared Folder, the estimate can be accessed by other users.

Taking into account the increased search speed and capabilities of electronic-formatted databases, both CD-ROM and online solutions for cost estimation can increasingly be considered indispensable tools.