Managing Your Project Without Breaking Your Budget

Costs, costs, and more costs. While undertaking a project, you start to notice how cost sensitive the situation may be. Whether it be your own house, or tendering for the next commercial building, cost plays an important factor that determines the survivability of the project. There are several key actions that you must take depending on your role in the project.

Hire an experienced individual or a quantity surveying firm.

While the project is still in the design phase, budgeting become the most important phase for a project. This is where all the major decisions occur whether it be design, materials, shipping, and engagement with contractors. By hiring an experienced individual in costing or a quantity surveyor, they will be able to guide you to the correct path. Ultimately, it will allow you to solely focus on what you want in the project. From there the quantity surveyor will be able to gather an estimation on the project’s budget which will give you a clear understanding of where the project stands.

Be decisive in your choices while being understandable that quality takes time.

A lot of projects take a turn for the worst when projects are rushed without a clear understanding of their direction. By being decisive, you will show confidence in your team while knowing the direction you will want to take. Secondly, the ability to understand that quality takes time. Sometimes, the timeline will have to be amended to assure certainty that the project achieves the objectives it was set out for. Rushing a project to fit the deadline will only create discrepancies and errors which will result in do over’s, extended time, and extra costs. By bringing in a quantity surveyor, they can manage the requests for additional time and communicate with you to help you make a judgement call if the request for extension is acceptable.

Know who is involved in your project every step of the way.

One of the worst situations to fall into is having inexperienced workers on a project. If these workers show a clear lack of knowledge and understanding then the project is in danger. At a macro project management level, knowing the jobs and responsibilities of every contractor, firm, and designer involved is very important. If you are not paying close attention, a part of your budget will be eaten away by unnecessary costs and changes that was conducted without your knowledge. As a quantity surveyor, Oliver Ho & Associates will ensure that the situation will not occur.

To know the goals of your project is highly important but understanding how to execute these goals is each project is a whole different game. If you are unsure, find an experience individual in costing or quantity surveying firm to support you. It will save you time, costs, and effort on your end ensuring the success of your project.