Cost Controlling in Construction Projects
Cost overrun is a serious issue in construction projects. Despite its proven importance, it is common for a construction project to fail to achieve its objective within the specified budget limits. Cost performance is one of the essential criteria to measure the project success. Some of the strategies are presented here to keep the project on track concerning the cost constraints. Accurate Project Estimates Accurate estimation of the project is the key factor cost analysis and control project report . Mostly the BOQs that are generated at the time of bidding are not accurate and made based on certain assumptions. For example, the steel quantity is calculated based on the concrete rather than making bar bending schedules. All the items must be estimated as accurately as possible at the pre-construction stage to evaluate the work’s exact scope. Selecting qualified quantity surveyors at this stage helps in generating a realistic BOQ. Early Contractor Involvement An integrated des...