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Budget & Schedule Management

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

Which Delivery Method is the Most Appropriate for Your Construction Project?
Which Delivery Method is the Most Appropriate for Your Construction Project?

A construction project's planning, design, and construction can be organized in several ways, also known as delivery methods. Like contract types, delivery methods dictate the contractual relationships between the client and the contractor, while adding the [...]

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How Construction Schedules Keep Projects on Time and Budget
How Construction Schedules Keep Projects on Time and Budget

Scheduling is one of the basics of construction management. When approached with skill and thoroughness, effective scheduling can shorten construction durations and reduce project costs. Here are the 5 ways quality construction schedules keep projects on [...]

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Defining Constructability in Construction Project Management
Defining Constructability in Construction Project Management

What factors would you consider when planning a construction project?Budget, schedule, and quality are commonly taken into account. Of equal importance to some clients are architectural design, functional program, and energy efficiency. Constructability, however, is an [...]

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5 Effective Strategies for Reducing Change Orders in Construction
5 Effective Strategies for Reducing Change Orders in Construction

On virtually all construction projects, change orders are inevitable. While many change orders are perfectly valid, questionable and controversial charges can really be a nuisance. With the cost overruns, delays, and tarnished relationships they leave in [...]

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How Value Engineering Can Help You Build a Better Building
How Value Engineering Can Help You Build a Better Building

When a project estimate comes in over budget, one of the first terms you’ll hear is “value engineering” (VE). In recent years, it has received a bad rap as a way to drastically cut both costs [...]

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The 5 Most Important Construction Project Contract Clauses
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. [...]

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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.