9/11/2023 0 Comments Pmp cost management![]() The time you spend putting the project on hold can ruin your timeline and customer relationships. You now have to hire an engineer to work through the soil issues and design structural supports that reach the bedrock.Ī structural engineer can come with a hefty price tag, but that's not all. But partway through, you realize that the soil underneath the accessway doesn’t have sufficient density to support its weight. On the surface, it looks like a fairly straightforward concrete and steel job. Challenge #4: AccuracyĮven with a solid estimate, a budget can still suffer from overruns due to inaccuracy in other elements of the process.įor example, suppose you have to install an access ramp in front of a commercial building. ![]() In addition, you can allocate extra funds for hiring additional subcontractors or renting equipment to speed up your projects. With construction estimating software, project estimates are more accurate since the program can outline all costs associated with a project as well as the time it takes to complete each phase. ![]() The quality of your project increases because you can factor in costs of preferred materials.Ĭustomers are happier because they don't have to deal with requests for additional funds midway through the project. ![]() You don't waste time looking for new suppliers that offer cheaper materials to avoid going over budget. You get enough money from customers to fund each project, ensuring you can pay your workers on time. Accurate project and material cost estimates have a positive effect on many elements of the construction project management process: ![]()
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