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Budget & Schedule Management

Control of the budget & schedule starts with clear program objectives.

Top 10 Benefits of Professional Construction Management
Top 10 Benefits of Professional Construction Management

Thе bеnеfitѕ of professional соnѕtruсtiоn mаnаgеment include highly skilled рrосеѕѕes that fасilitаtе рlаnning, сооrdinаtiоn аnd соntrоl оf а рrоjесt frоm inсерtiоn tо соmрlеtiоn. A professional construction manager will bаlаnсе thе соmреting nееdѕ оf соѕt, ѕсоре аnd [...]

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How to Develop a Construction Budget
How to Develop a Construction Budget

You have an idea for a dream project. One of the first things you’ll want to know is how much it’s going to cost. After all, you won’t know if you can even do the project [...]

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These are the Top 10 Construction Project Management Responsibilities
These are the Top 10 Construction Project Management Responsibilities

Construction project managers manage construction projects. Sounds simple, doesn't it? Yet, few folks could reel off these professionals' specific duties off the top of their heads: there are just too many. So, what do they do?In [...]

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Construction Estimator vs. Project Manager: Do You Know the Difference?
Construction Estimator vs. Project Manager: Do You Know the Difference?

In this article, we will discuss and compare the functions of construction project estimators and project managers. Both are equally vital to the construction process and their employer. Both handle budgets and risks. Sometimes, their duties [...]

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How BIM Can Help Owners Save Money
How BIM Can Help Owners Save Money

Electronic drafting programs and other modeling software has changed the way construction projects are designed. Design teams are now able to work together in cyberspace, seeing their designs come to life well before construction begins. The [...]

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Why Owners Should Insist on Lean Construction Methods
Why Owners Should Insist on Lean Construction Methods

Lean construction is a concept from the past that has seen a rebirth in the construction industry. The principles behind lean construction were born in manufacturing during World War II. It is only in recent years [...]

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Construction cost estimation and budgeting are some of the best practices that dictate a total project budget  includes design and construction costs and all anticipated or potential costs for the project be developed as early as possible. This will provide the road map for what is to be built and how, when and to whom funds will be allocated over the life of the project. Budgeting is highly dependent on both duration and the resources assigned to the project. Once the initial budget is established, it becomes an essential tool for managing the project to meet the owner’s program objectives and budget requirements.

Budget and schedule controls begin with retaining the right project team. The architect should be evaluated not just upon design, but on their ability to produce drawings on time, within budget, and in sufficient detail for the contractor to build efficiently. An excellent strategy is to retain a general contractor or a professional cost estimator to provide early preconstruction services that include budget preparation and critical path schedule. The general contractor’s fees are a large part of the budget and are based entirely on duration – any increase in time also extends the fees for all other project participants. It takes a talented and experienced construction manager to review their results, determine they are accurate and realistic, and look for any opportunities to reduce the owner’s costs by accelerating the schedule.