Construction Budget & Cost Control

Develop a detailed construction budget and cost tracking.

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Steps: 1) Create line-item budget by trade 2) Obtain competitive bids 3) Add hard and soft costs 4) Set contingency reserve 10-20% 5) Establish change order process 6) Track actual costs monthly 7) Investigate variances

Output: Line-item budget, contingency reserve, change order log, monthly budget vs. actual report.

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Why this works

Detailed budget provides baseline. Monthly tracking prevents overruns and surprises.

Risks & review

Underestimating contingency leaves no buffer. Contractor scope creep inflates budget.