Budget & Schedule Management
Control of the budget & schedule starts with clear program objectives.
The 5 Most Important Construction Project Contract Clauses
When you are working with a general contractor, it is important to set the terms of your working relationship as soon as possible. Usually this is done by entering into a construction contract of some type. [...] read more
What goes into a feasibility study for a construction project?
Just like with any project management plan, the construction project process consists of a series of predetermined phases that begin with project initiation and end with closure: completion and delivery. Often, the first concrete steps of [...] read more
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 [...] read more
Proper Payment and Invoicing Procedures in Construction Management
Рrореr payment and іnvоісіng procedures аrе сrіtісаl аѕресtѕ оf еffесtіvе соnѕtruсtіоn mаnаgеmеnt. Whеthеr yоur рrоjесt іѕ а оnе-tіmе ѕеrvісе-саll оr а multі-yеаr соnѕtruсtіоn рrоjесt, іt іѕ іmреrаtіvе thаt yоu оnly раy іnvоісеѕ thаt аrе ассurаtе, соmрlеtе [...] read more
Top 10 Tips and Best Practices for Managing Construction Projects
Disaster stories in construction abound—unfinished homes and buildings, blown budgets, lawsuits and contractors fleeing the state. True story: a potential client came to me after receiving an anonymous packet on his front doorstep containing 200 pages [...] read more
"How To" Guide for the Construction Management Bidding Process
The bidding process is one of many important construction procedures and processes in construction projects which requires that a strong team is assembled from the outset of the project. In addition to a general contractor, large [...] read more
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.