How To Stay On Budget – Commercial Construction
Keeping a commercial construction project within budget requires determination, vigilance, problem-solving creativity, and diplomacy. It begins the moment when project is conceived and extends throughout the construction period. There are many reasons why a commercial construction project can exceed your budget. Some causes, such as delays and property losses due to natural disasters, simply cannot be properly assessed or budgeted. However, many causes are related to poor planning and even weaknesses in the budgeting process itself. General Cost Control Issues Despite careful planning and management efforts of commercial construction companies toronto , construction project cost overruns occur. The common causes of overruns are: Lack of well-defined project scope: It can be just because of bad estimation method. Starts / ends activities in no particular order. Insufficient planned / actual cost comparison. Unexpected technical problem. Poor project management guidelines