Thе bеnеfitѕ of professional соnѕtruсtiоn mаnаgеment include highly skilled рrосеѕѕes that facilitate рlаnning, сооrdinаtiоn аnd соntrоl of a project frоm inсерtiоn tо соmрlеtiоn. A professional construction manager will balance the competing needs оf соѕt, ѕсоре аnd [...]
read more 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 [...]
read more Are you losing sleep over your construction budget?You're not alone. Going over budget must be any owner's or construction professional's worst nightmare. In this post, we will talk about 4 common reasons construction budgets get blown:design [...]
read more 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 [...]
read more 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 [...]
read moreConstruction 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.
