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Commercial Construction Project Planning: 3 Warning Signs Your Budget Might Go Bust

HardHatChat

Budget is always a major consideration for our commercial construction clients, and as a general contractor we devote significant time to the budgeting process. Here are a few signs that, in our experience, indicate your project budget is more likely to bust: Skimping on Professional Services.

Budgeting 337
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Maximizing JOC Program Performance

Job Order Contracting

JOC Construction RFP Planning and Procurement – Program Contract Organization, Documents/Bid Packages/Forms/Checklists/Approvals, Roles in Construction Projects, and Contractor Selection. Project/Workorder Bid and Proposal Management Processes. Budget Tracking. Program Portfolio Management. Contract Management.

Bidding 253
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Commercial Construction Delivery Methods: 3 Times To Go With A Negotiated Bid

HardHatChat

Any long-time readers of Hard Hat Chat have probably picked up on the fact that I’m a big fan of the negotiated bid. The GC then works with the client to budget the job based on pricing from subcontractor partners. Many large or complex construction jobs are budgeted and built out in phases. It’s A Multi-Phase Project.

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LEAN Job Order Contracting – Getting the most out of available funds

Job Order Contracting

contract term. Unlike traditional JOC or traditional design-bid-build, LEAN JOC is a collaborative process that focuses upon mutually beneficial outcomes for ALL participants and stakeholders. LEAN Job Order Contracting is an indefinite delivery, indefinite quantity program in which the costs of the project are.

Contract 245
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Innovative Solution Integrates Planning, Procurement, and Project Delivery to Improve Construction Productivity

Job Order Contracting

Leverage robust lean processes, locally researched detailed line item construction cost data, support services, and enabling technology to consistently delivery quality repair, renovation, sustainability, and new build projects on-time and on-budget at the lowest possible cost and with full financial visibility and transparency.

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A Relationship-based Approach to Sustainable Facilities Management

Job Order Contracting

Existing tools and support services to mitigate waste/rework and enable consistent quality outcomes on time and on budget are readily available. Bid Management. Budget and Estimate versus Actual and Committed Budget Tracking. Contractor Proposal/Bid Management. Contractual collaboration commitment from all parties.

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How project managers are using technology to ensure on-budget and on-time construction

Lets Build

The success of any construction project hinges on multiple factors, including budgeting and scheduling, which impact the project’s completion. In fact, most contractors usually add a 10% margin error into their budgets and timelines as a contingency. This provides a single source of truth to drive your construction engine.