When it comes to civil construction, the success of any project begins with a solid foundation of financial planning. Much more than a cost estimate, the budget for a project is a detailed analysis that covers everything from labor and materials to general expenses and equipment.
“A well-prepared budget is what helps control expenses, avoid financial surprises and ensure that the project is completed within the planned budget”, highlights Marcos Sarge, managing partner of Tallento Construtora.
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For the preparation of a construction budget to be efficient, it is necessary to consider that all direct and indirect costs are taken into account, as it helps to control all expenses and avoid financial surprises.
So that the budget does not exceed the stipulated amount, the managing partner has separated six important tips so that your work reaches the end in the way it was planned.
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Have necessary information on hand such as: project design, soil characteristics, quantity of materials, current prices, labor salaries, project execution schedule, indirect costs and estimated general expenses; Calculate labor costs. In this case, it’s simple: multiply the number of hours needed to complete a task by the hourly cost of labor, including salaries, labor charges and benefits, in each cost composition of the budget; Pre-negotiating the price with suppliers during the budget phase is a great way to obtain more competitive and affordable prices for the construction phase; Carrying out a survey is one of the most important steps to monitor and control expenses that arise during construction. The best practices for carrying out this activity are to include maintaining accurate records, regular budget reviews and using construction and project management software; Remember to have an emergency reserve for contingencies in your budget to cover unforeseen events. This amount may be based on the complexity of the project and identified risks. As unforeseen events occur, reserve funds are used to prevent the budget from exceeding the amount stipulated at the beginning; During the course of the work there may be changes to the scope, therefore, they must be documented and evaluated regarding their impact on costs and deadlines. Then, you must have the client’s approval and make adjustments to the entire planning – from the budget to the schedule. It is worth highlighting that transparency in communication is essential to avoid misunderstandings.
“The ability to anticipate challenges, identify savings opportunities and ensure effective budget management are differentiators that can significantly contribute to the success of any construction project. Furthermore, transparency, effective communication and commitment to quality are essential principles for achieving exceptional results in any project”, concludes Marcos Sarge, managing partner of Tallento Construtora.
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