Construction Project Budgeting
Posted by Steve Robinson on Thu, Jan 28, 2010
Do I have the proper tools, iron and trucks in place? What is my budget for equipment? Should I buy new wheel loaders? What are the "pros" to running used trucks in my fleet? Would renting equipment, tools, and on site storage containers be more beneficial? These are just some of the many pieces of the puzzle that you General Contractors undertake in the planning, develpment, and undertaking of projects and budgets. Be smart and plan ahead. Talk and network with other experienced professionals. Share your experiences with others. Having this kind of team you can trust and rely on is critical.
A good source for updates and coaching comes from Matt Stevens at the Contractors Blog. Here he shares...
"The proper management of a project involves more than just getting the project built. Financial Management is a critical part of the overall project management process. If a project is managed well financially, it is more likely to be successful and profitable. If your organization has the appropriate resources, such as reports, documents, and checks and balances, there should be no surprises. Remember to use all of your available resources to help you manage the financial aspects of your project. A well-built quality project that loses money is still a losing situation."
Matt Stevens is a management advisor who works only with construction contractors. He has performed training and business consultation for the contracting community since 1994. Matt can be reached at mstevens@stevensci.com.