Cost management is viewed as a managerial process, which generates information to support decision-making, to stimulate cost reduction, value improvement and continuous improvement in the project development. The cost manager/quantity surveyor plays a pivotal role in the financial and contract management of construction projects.
Cost control within a construction project is essential to ensure that it does not overrun and result in the viability of the entire project becoming undermined.
A project will begin with a development budget study that will highlight all associated costs and the expected returns, then a cost plan will be prepared. Within this, all construction costs including resources will be considered along with all associated professionals fees and the allocated contingency.
Every resource cost associated with the project should be detailed in full, and also included in the development budget, alongside details of the developer’s returns and further items such as surveys, specialist advisor fees or project insurance. The whole purpose of the cost plan is to ensure that the budget is allocated across the primary elements of the project, establishing a basis for cost control.
The processes involved in planning, estimating, budgeting, and controlling costs
Through cost management, BRISK GROUP maximize the profitability of your investment.
From the initial budget estimate to defining the procurement strategy and final cost validation, through everything we do, we aim to streamline the financial resources allocated to the project.
What BRISK GROUP can do for you:
- We estimate the costs of the project, right from the draft stage
- We track the evolution of the design and thoroughly detail the necessary budget for accurate forecasts
- We evaluate the offers received from the auctions in terms of costs
- We analyse the options available in order to finalize the project with the most efficient budget by taking into account all other important variables for the final result
- We identify the commercial risks of the project
- We streamline the final costs, without affecting the result
- We monitor the budgeting throughout the implementation of the project
- We are constantly concerned about the profitability of the project and its final value.