Construction Budget Preparation Services
It’s important for owners and developers to have a realistic number to work with prior to a project breaking ground. Construction Budget Preparation service consists of estimating costs and quantity takeoff services, to create accurate budgets throughout the project, for building cost estimation, not only at the feasibility stage but until completion of the final design.
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What Is Construction Budget Preparation?
The budget preparation of a project is in a different stage than the final bid estimate is, and sometimes before the construction documents are completed. We are a construction estimating company that will give you a realistic cost to plan around (conceptual quantities and historical cost data) at a budget level.
The initial budget is often agreed before the design scope is agreed as well and if it is found to be too small at this early stage, it can be very expensive to add in realistic contingencies later in the design process.
Our Budget Estimating Process
First, we start with any information we’ve been given about the design (conceptual drawings, a program of spaces or even a scope description in words), then we rely on historical cost benchmarks based on other completed designs that have been similar. Our building estimating services professionals understand what assumptions are made in the initial design phase so you know what to expect and what might be subject to change.
As the design moves from a concept, through schematic and then into design development, the numbers in the budget range become more accurate as the design evolves and the numbers are based on measured quantities and not assumptions.
Why Early Budgeting Matters
Having a good budget number in the beginning is crucial in being able to secure financing, have realistic expectations as an owner, and not end up with an out-of-priceshame redesign late in the process. Owners commonly end up in the same position as they are in their initial days: they make their bids too high, and fail to realize that they are overestimating too early.
Budget Reconciliation and Value Engineering
If final bids are higher than budget, value engineering (variations in material, system changes, scope phasing) is utilized to identify cost savings while maintaining a project’s overall design intent. This service is especially beneficial for fixed financing and funding constraints.
Budget Reconciliation and Value Engineering
If costs are coming in higher than the budget, we work with you to identify ways to save money such as scope phasing, a different system or alternative materials, but we do not change the core design intent. This will be a very helpful service for those owners who may be a fixed financier, or have financial restrictions.
We make value engineering recommendations to save the owner dollars, but also give them options to consider for performance, finish and schedule.
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Contact us Now
Call us now and upload your construction project plans with all the specific details to explain the scope of work that includes construction drawings, specifications and other specific documentation.
Receive your schedule
Our expert team of BIM Estimators manages to deliver the final draft for review and consult through an email or call to consult and finalize the construction project.
Frequently Asked Questions
Is it possible to create a budget prior to the completion of construction plans?
Of course, we do prepare conceptual and schematic level budgets when we don’t have all the design information, before the drawings are finished.
Do budgets correctly estimate the start-up costs?
Early budgets are more general and are usually within 10-15% of the actual cost; as design and documentation progresses to a final bid, budgets will be more accurate.
Will you please up if the prices are more than the original?
Yes, Value engineering/budget reconciliation is available as a service to look for savings where the bids are above the plan budget.
For the home as well?
Absolutely we do prepare a budget for homeowners and residential builders before embarking detailed construction drawings.
Are the budget updated while you are still designing?
Of course, we keep you updated with budget news during the significant design phases and when drawings and specs change so your number is always up-to-date.
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