Construction Budget Formulation and Control:
It is a core philosophy of our practice that the route cause of most construction project failures can be traced back to the preparation of the initial budget and the failure to maintain that budget throughout the project lifespan. That is why we make every effort to analyse development requirements in detail very early in the project timeline.
If at all possible, we do not rely on generic budget rates that do not take account of specific site conditions, local market forces, national market trends and design considerations specific to the job in hand. On the contrary, our clients are often surprised to discover that our initial estimates are more akin to detailed cost plans.
Over the years, we have encountered numerous construction problems such as ground conditions, contamination and air quality, that have adversely affected the overall construction budgets of the relevant projects. As a consequence, our overall construction knowledge allows us to make relatively accurate assumptions without detailed drawings.
Once the budgets have been set and a project becomes “live” it is then essential to maintain the budget. Ensuring that tender and contract documentation properly reflects the project brief is a key to achieving this aim.
We take great care to ensure that the correct procurement routes are adopted and that the foundation documentation is complete. We work with other design team members to ensure that the information they produce is entirely relevant to the client’s requirements. The consideration and selection of base contractual documents is made with specific reference to the project requirements, not on the basis of expediency.
From the commencement of construction through to completion, we will prepare detailed cash flow forecasts and will update them against progress on site. In preparing interim valuations and final accounts, we will cross reference our assessments to the programmed advancement of the works, the level of completion and the standard of workmanship. Where variations to the contract have been instructed, we ensure that best value is achieved by thoroughly vetting the proposed financial implications.
Accuracy and the information necessary to achieve it are the ultimate goal of all quantity surveyors. We believe that we can provide our client’s with both.