Successful construction projects require the right staff, the right tools and the right timeframe. Thankfully, with all of the resources available today, keeping within a budget is easier than ever.
Your best bet is to take the time to properly plan out a monetary strategy and where possible, employ an experienced team that use high quality materials. Don’t just use the cheapest parts and labour, as you may have to pay more in the long run for upgrades and renovations. A skilled project manager should be able to keep on top of your spending, adhere to a budget and still deliver promising results in a timely manner.
Here are some tips to keep spending in check during your next building project:
Make an Estimate and Draft a Timeline
Creating financial estimates for individual phases of your project can serve as a rough guide and an excellent first step. When devising your budget, don’t forget to leave some wiggle room for unplanned costs. In regards to milestones for each stage, a detailed project plan serves as a preventative measure for time overrun. Project delays are one of the leading culprits of cost escalation, so remember to stick to the plan.
Let computers offer you guidance on the path to controlling your construction project costs. Specific project management software is widely available. Computer programs like Microsoft Excel can create detailed spreadsheets of spending and even do most calculations for you. Record keeping is an indispensible tool for the construction process too, helping you flag any suspicious costs.
Wastage of materials can happen throughout the entire construction process. During the procurement stage, make sure you know the exact specifications of what you’ll need for the project. Money can be lost from buying more than the quantity required and improper handling during transportation to the building site. In the storage stage, poor conditions can cause deterioration leading to shortened lifespan of the materials. To maximise shelf life of your materials, provide adequate protection from extreme weather conditions as well as theft or vandalism.
Maximise Labour Productivity
Costs associated with labour include wasted time. Since labour is one of your largest spending areas, it’s important to choose a team with consistent results. Labour activities that result in wastage include idle waiting time, unnecessary travel, unscheduled breaks, late starts/early endings and delays to receive work instructions. Efficiency and effectiveness are the best traits to look for in your workers.
Having a clear plan and employing a savvy project manager to stay on top of everything will ensure a more dynamic working environment. Close supervision and regular progress checks are good ways to keep staff motivated throughout the construction process. Clear communication between the project manager and workers, contractors and subcontractors is also extremely valuable.
Author Bio: Next time you’re involved with the management of a construction site, get in touch with Budget Temp Fencing. They provide Australia’s leading fencing products – at a price you can afford.