Setting a realistic budget and managing that budget against a project’s progress is critical to the project’s success. We have helped clients with all aspects of budget and financial management for a project.
A carefully crafted initial budget may make the difference between obtaining the necessary funding or falling short. If funding does fall short, we assist our clients to decide how best to make budgetary compromises and prioritizing the project’s elements. Depending on the design status, we assist in “Value Engineering” as needed to find ways to reduce costs while still achieving the owner’s primary objectives.
Once a project’s construction phase is underway, we keep a close eye on how actual costs compare to the agreed upon budget. We review all proposed change orders requested by contractors to make sure that they are appropriate and the costs are reasonable. Regular reports – weekly or monthly, whatever the client prefers – are prepared tracking expenses incurred and showing variances, revisions or changes affecting the budget.
We assemble and review invoices and payment applications from all project contractors. We then forward them to the client with recommendations about payment. Sometimes we also manage payment processing and coordination.