0 Comment
Customer Reviews
Sell dreams and not the product, this timeless piece of advice holds true for almost all businesses, but fits the bill perfectly for construction projects. From building a beautiful home to a dream office space, a team of artisans and architects work together and bring thoughts and concepts to life.
Construction is an ongoing process to build and remodel infrastructure. It takes great effort for a business to construct or renovate within a budget and still make profit within the defined timeframe. Budget estimation is the first step in a construction project; it allows working in specific direction with earmarked finance.
Project budget serves as a financial guide for handling and management of project cost. Controlling a project cost is essential to maintaining the standard of construction.
To stay within budget, it is essential to define project cost in terms of standard financial measures. A budget plan will provide a complete guide to create desired structures, with both the fixed and variable costs outlined. It provides transparency to stakeholders and the team on how the budget will be used.
If you are in the bidding business, here are some templates on construction bidding proposals that will work as your trump card when you bid. Click here to access these templates on construction big proposal.
A construction budget must contain the administrative cost, financial cost and legal fee with the budget amount within the actual and fixed cost that the client had indicated.
When preparing a budget, keep the following points in mind:
- Pre-assessment of projected income and expenses
- Budget comparison with similar projects
- Analysis of design and requirement
- Evaluate construction rate
- Site inspection
- Keep adequate cushion for taxes and inflation increase
We can conclude that the success of a construction project mostly depends on its completion within time, and within a budget. Construction project budget helps track on all stages of project without going over budget.
Check out our top five templates to prepare and display your construction project budget.
The 100% customizable nature of the templates provides you with the desired flexibility to edit your presentations. The content ready slides give you the much-needed structure.
Let’s explore.
Template 1: Construction Project Cost Estimation Budget Projection PPT
Deliver a credible presentation on estimated budget cost of construction project with this readymade PPT Presentation. Calculate the final profit margins after evaluating the appropriate overheads, explained in a tabular form. This PPT Template covers general tasks assigned to the contractor along with labor and material charges on hourly basis and rate per unit.
Download this template to evaluate your construction budget with the actual price to prove or expertise in understanding the nature of cost.
Template 2: Construction Project Budget Schedule Hudson PPT Template
This PPT Template displays a budget-scheduling calendar to calculate expenses with regular tracking of expenditure against net income goal. Explain your budget from start date to end date along with duration, number of units and price per unit. One can also display the fixed price against actual price and calculate the budget amount, and the difference with a clear picture. Download this template this editable template to suit your needs and track the construction budget of project.
Template 3: Budget Plan for Construction Project Template
Plan your construction project budget with this readymade template, which displays an annual budget with year-to-date expenses calculating the total amount against the available percentage. Using this slide, you can also track direct and indirect overhead expenses as proportion of the available total budget available.
Template 4: Five-stage Process for Construction Project Budget Estimation PPT Template
Simplify and present construction project budget layout identifying goals within an expected timeframe. Use this template to plan a constructive sitemap with a team of architects and civil engineers. Execute and monitor work performance with quality inspection and availability of raw material. Finally prepare a closure report covering total budget and time taken to build the project. Download this template to signify and present five stages of construction project budget.
Template 5: One-Page Budget Status Reporting for Construction Project Presentation Template
Provide a comprehensive view of the budget status report of your construction project with this one-page report. This is an infographic PPT pdf template, which displays project summary with total budget, with details of the reporting site manager as well. With this document, you will be able to provide budget investment plan and category-wise cost allotment, a huge benefit to the person bearing the cost. Prepare and explain the project schedule with offsite investments and activity summary. Download this template to communicate your budget status report with necessary details.
Construction Budget as a pillar of success
A construction budget is the division of allotted finances for a building project. It accounts for resources required to complete the project that are work force, material and machinery. It plays a key role in planning and executing of construction with projected limitations and calculated, realistic progress. It determines the rate of overall progress of the project by setting priorities to ensure its completion on time.
FAQs on Construction Project Budget
What is a project budget in construction?
A project budget in construction is the estimated cost evaluated after detailing all necessary expenditure on construction. It includes workforce cost, raw material cost, legal fee and administrative cost. Budgeting refers to scheduling the project with planned milestones in a specified timeframe. It is a fundamental tool in business project planning today, whenever construction projects are taken up. Speed is of essence in calculating it, and it is always cost-effective to draw up a budget for construction projects.
How do you calculate construction cost?
Construction cost helps specify the approximate amount required to build buildings and other related infrastructure in a defined timeline. The simple formula to find construction cost is construction rate multiplied by area to be built. Construction rate must include the raw material charges and workforce charges. Since it is usually a one-time investment, it is important to calculate it well. Its precision and accuracy have to be spot-on, or there could be humungous variations, which could even lead to the stalling of the project.
How to plan a budget for a construction project?
To calculate a construction budget, divide expenses into categories and allocate finances accordingly. While creating a budget keep the following points in mind:
- Refer to the cost estimation of similar projects
- Site condition
- Inflation rate
- Project schedule
- Wage rates
- Specifications required
Remember, most of these variables are linked to market forces. Hence, a construction budget should be prepared as close as possible to your start date of the project.
