ARTICLES
How to prepare a construction budget
The information a contractor needs to develop a more useful early cost plan.
Describe the scope
Begin with location, intended use, approximate size, quality expectations and available drawings. Include existing-condition information, access constraints and any requirement to keep the building operating during the work.
Record assumptions
An early budget has limits. Record the allowances, exclusions, design maturity and pricing date so the team can see what the estimate includes. Consider professional fees, statutory costs, contingency and operating requirements alongside construction cost.
Review as the design develops
Revisit the cost plan at agreed design milestones. Track scope changes and procurement risks so cost decisions remain connected to the current brief and programme.
START A PROJECT
LET’S BUILD WHAT COMES NEXT.
A clear brief. A useful conversation. A considered next step.
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