Cost Planning in Building Construction
COST PLANNING & ESTIMATING
A cost plan determines the fiscal feasibility of a Project or Development. This is done by setting the lifecycle budgets and cost controls to manage the delivery and quality of the initiative’s outcomes over a set timeframe.
In the construction industry, a cost plan is used as a way of controlling the estimated costs during the design and construction phases of a project.
The guiding principles to cost estimating and cost planning are:
1. Time is money
2. Risk and reward
3. Appropriate controls
At Trident Projects ,Cost estimating and cost planning outcomes provide the framework for our cost control through all satges of any project. Cost control ensures we stay within budget set during the cost estimating and cost planning processes.
At Trident Projects Managing costs is vital for the successful delivery of Industrial, Commercial & Residential Projects, along with managing scope, time and quality. If costs are not managed then it’s likely the other three will not be either.
Trident Projects experienced cost estimators & cost planners have a multi-disciplined capability to visualise, over time, the cost of designs, materials, effort, and risk, and apply commercial strategies to present the plan in a logical and structured manner