Oct

29

Rounding, from Alan Millhone

October 29, 2007 |

There is a saying in the construction business that 'rounding' will get your estimates in trouble! All insurance adjusters hate 'rounding' of insurance estimates that a contractor prepares and submits. An estimate for insurance repairs will have smooth sailing with an adjuster (for the most part) if you use odd dollar and cent amounts for each item you are bidding; this will make the adjuster smile from ear to ear. I had a mentor years ago who specialized in fire loss restoration who told me to break down each segment of the estimate; this way you have less chance of missing anything and can get more out of the job.

Having a penchant for detail is good in construction estimates, evaluating a checker or chess move, or looking at a market move in detail before you hit the 'buy' button. In all three cases a handwritten manuscript will allow you to do a synthetic study of past performance and to see how it applies in your current scenario.


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