hstORACLE

Our success as construction companies relies heavily on historical data. It is most critical earlier in the design process when there are limited design documents and cost metrics are based primarily on square footage.

Databases are typically formed in Excel sheets and estimating software that auto-adjust estimate line items to match bid results. The issue with this approach lies mainly in unit pricing. Bids can come in under or over budget, but there is no science to find the true variance as it relates to a unit price. A mass adjustment can alter pricing that was actually accurate.

Furthermore, most construction companies capture GMP or bid data in Bid Package format. Once a GMP is finalized, going back to an estimate and making a mass adjustment can alter pricing that was accurate. Take Uniformat as an example — Bid Package 04A Masonry scope can end up in structure, interiors, and envelope. If that package comes in under budget and a GMP-to-estimate adjustment is made, resorting the estimate into Masterformat or Uniformat will skew disciplines that should not have changed.

That is where histORACLE shines. It relies on subcontractor Schedule of Values line items to sort projects into the three most important categories: Masterformat, Uniformat, and Bid Package. Those responsible for reviewing requisitions before approval need to coordinate with the estimating team to understand what line items to look for. The more detail, the better.

The good news is that if a trade contractor prepares their SOV correctly, the line items they bill for naturally follow the estimating buckets that make our historical data flourish. Subcontractor requisition line items are the most precise way to store true bid data — and that is the core of histORACLE's functionality and its true differentiator.

— Michael Parent