With the mantra of ‘cash is king’ more pertinent than ever before in the region’s building sector, construction budgets and cost control remain of critical importance to all stakeholders across the supply chain.
ccording to chief executive officer of building technology firm Construction Computer Software (CCS), Andrew Skudder, construction budgets are “particularly vulnerable” to inaccurate project estimates, changes to the design and the scope of projects, inadequate change orders and cost management, and poor site productivity and management.
While design and scope changes are to be expected – more often than not, tweaking a design to optimise a project is welcomed on all sides – accurate cost and time estimates using “leading software solutions will reduce risk”, he tells Construction Week.
Skudder says cost control is a process that should be ongoing “throughout the project lifecycle”, from the first estimate to the final account sign-off. This will ensure that the cost of a project is kept within the agreed budget.
Read more in Construction Week Online