Construction Management Services
Stay ahead by acquiring our construction cost management services to ensure that your team is hitting the target budget.
Project cost management refers to the set of activities employed to estimate, designate, and manage the cost of the construction project by analyzing the scope and productivity with regard to the stated budget limits. It ensures maximum efficiency throughout the entire lifecycle of the project and overrules the effect of cost overruns and time delays.
World estimating being an integrated construction estimating and cost management consultancy, thoroughly understands the challenges of construction companies and the expectations of their clients. Our years of experience in the industry and in-depth knowledge help us to identify our client’s goals, accompany them in their project’s planning, execution, and completion, and strategize their business decisions.
Our expert quantity surveyors and cost managers remain fully involved with the project teams from feasibility analysis, design and development, documentation, pre-construction planning, and construction to closeout rendering cost estimation and cost budgeting and control services. We have a diverse portfolio of working with residential, commercial, industrial, and civil projects in both private and public sectors.
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Why is project cost management important in the construction industry?
Project cost management has proven beneficial to all parties involved in the construction project, be it developers, construction managers, contracting corporations, engineering, and design firms.
It effectively starts with accurate cost estimates to set the initial budget and later measurements to be taken throughout to ensure that the project remains within the budget limits.
By achieving effective project cost management practices, you can:
- Set clear objectives for all the stakeholders involved in the project
- Track project progress to aid in taking the corrective measures instantly
- Attain good markup, increase return on investment, and mitigate the risk of losing money.
- Develop data to benchmark for future projects
- Empowers the extensive features of the project planning including pre-plan, feasibility, operating cost, commissioning, risk analysis, contingency, design, development, maintenance, etc.
Why choose us?
Our construction cost management plan comprises all the details on how project costs will be managed throughout the entire lifecycle of the project. It clearly states the criteria by which the costs are evaluated, reported, updated, and identifies all the stakeholders involved in the particular phase of the project. The process starts with estimating all the costs including costs for acquiring land, planning, design, labor, material, contingency, maintenance, etc. Then leading to budget scheduling, managing costs, and analyzing progress at various project milestones.
At World estimating, we offer the most effective management of funds and resources in order to achieve the project’s milestones within budget and time.
- Cost-effective rates and fastest turnaround times.
- We have a track record of creating highly precise and comprehensive cost estimates while considering our client’s expectations and design requirements. This ensures that estimated figures meet the final actual cost to the maximum.
- If at any stage, project cost exceeds the budget limit, we employ value engineering to set the project back on track. While working closely with the designers, our cost managers make sure that all their requirements and considerations are fully met before the next stage starts.
- Our quantity surveyors perform accurate estimates for labor and material at regular intervals during the construction to develop the cost performance report. If the estimate shows price fluctuations from the initial estimate then cost updates are applied after approval from the owner.
- We properly organize all the costs involved in the project like direct, indirect, fixed, variable costs, etc. that at any time our client can easily visualize and foresee the project costs.
Our Construction Cost Management Services
Cost planning and control – initially defines the cost plan and then monitor, report, update and control the cost variations to ensure the on-budget project delivery
Contract analysis – advice on contract procedures to assure it adds value, meets the requirements to avoid risks.
Construction Cost Estimating – preliminary estimates, design estimates, budget estimates, quantity take-offs, bid estimates
Feasibility study – gives the initial idea to decide if it is profitable to invest time and resources in the project
Bid management – assistance with bidding process including bid filling and management of bidding network profile
Risk analysis and management – evaluating risks and advice to alleviate its effect on project cost and schedule
Life-cycle costing – providing cost estimates, budgeting and cost control services throughout the entire lifecycle of the project from preconstruction to closeout
Cost benchmarking – better cost control by improving efficiency and mitigating risk using benchmarking data
Value engineering – employing a well-planned approach to reduce costs while adding value and maintaining the quality of the project
Our Service Areas
World estimating is US-based construction estimating consultancy working on projects throughout the North American region as well as the Caribbean and Australian regions. In the US, we provide services in the following markets: New York, Florida, Texas, New Jersey, California, Pennsylvania, Illinois, Arizona, Georgia, North Carolina, South Carolina, Michigan, Virginia, Washington, Massachusetts, Missouri, Maryland, Colorado, Indiana, Teeneese, Minnesota, Alabama, Kentucky, Connecticut, Oklahoma, Oregon, Louisiana.