Keeping project costs in line with your expectations
Construction and development require significant expenditure, and BCG is equipped to keep your costs in check. With our broad industry network and project experience, we’re able to build accurate budgets that ensure everything is accounted for and proceeds on schedule. It’s important to us that our work is completely transparent and that you know when work will occur on each project and precisely how much it will cost.
We often provide our clients with ideas for saving money and/or deferring costs based on project requirements. This can include value engineering, the implementation of multiple project phases, or help with equipment and construction financing. To ensure budgets are accurate, we tend to create the requests for proposals (RFPs) and manage bidding. An incorrect budget is one of the easiest ways to kill a project.
Managing large development programs often involves analyzing the costs of multiple phased projects that run concurrently. Keeping all these costs under control is much more difficult than simply managing a standalone project. We help you take on this complexity by identifying opportunities for smarter plan sequencing, achieving economies of scale, and producing logical bid strategies.
Many different variables can impact whether a real estate project is completed successfully. Inadequate planning, over-optimistic scheduling, inaccurate budgets or failure to understand what the end product should be can all doom a project.
One of the ways that BCG can help your project to succeed is by creating a Project and Budget Review (PBR) before you close your construction loan. The intention is to ensure that your budget, scope and schedule are all in alignment. This report analyzes the following:
- Schedule
- Project budget
- Drawings & specifications
- Construction contract
- Project scope documentation
