article thumbnail

Construction Budget: A Quick Guide (with Examples)

ProjectManager.com

Creating a construction budget, therefore, is one of the most important pieces when developing a construction plan. How do you create a construction budget, anticipate the costs for a project and track them to make sure you’re not overspending? Let’s take a look at what goes into making a construction budget.

article thumbnail

7 Steps for a Successful Project Budget

ProjectManager.com

That’s why planning out your project budget is so important: it’s the lifeblood of the project. Follow these steps to secure the funds necessary to support the project through every phase. But first, we need to define what a project budget is. What Is a Project Budget? Use Historical Data.

Budget 388
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Should You Include in Your Preconstruction Meeting Agenda?

ProjectManager.com

Construction projects are structured with schedules, budgets and resource allocation. Many people work on them, from general contractors overseeing subcontractors to architects and, of course, the project owner. It will become evident if the project has been poorly scoped or has unclear specifications and quality requirements.

article thumbnail

RFI in Construction: A Quick Guide for Contractors

ProjectManager.com

The written form of an RFI in construction retrieves this information from a design, engineering or construction professional. Clarifying information that wasn’t included or unclear in the scope of the construction contract is critical to delivering a project on time, within budget and meeting quality standards.

article thumbnail

Construction Superintendent Job Description, Responsibilities and Salary

ProjectManager.com

Another aspect of the construction superintendent’s job is to make estimates on how much the work will cost. This will inform the construction project’s budget. Once you’ve set a baseline, progress and cost variants can be tracked in real time to help you stay on schedule and within budget.

article thumbnail

Feature Tip #12: Stay on Budget with Work Limits

LiquidPlanner

LiquidPlanner’s scheduling engine helps you account for uncertainty through ranged estimation and real-time forecasts. So, if a project takes longer than expected, it won’t catch you off-guard. But what if you need to set a cap on the number of hours spent on a task or project that can’t be exceeded? What to learn more?

Budget 78
article thumbnail

Construction Cost Management: Managing Construction Costs

ProjectManager.com

Construction costs are one of many metrics that a general contractor has to keep an eye on. But if the construction cost goes over budget, that’s coming out of the contractor’s pocket. That’s why construction cost management is so important. What Is Construction Cost Management?