Budgeting & Estimating
From the moment we prepare our first budget to the moment the keys to the front door are handed to the owner, cost control is of paramount importance. To begin our cost control process, our estimates are prepared on detailed custom spreadsheets, broken down into standard divisions of work. Every cost is broken down and assigned a cost code based on the standard ‘master format’ which can then be directly traced to the final Cost Report.
Once we’ve received approval to begin construction, the estimate information is transferred to accounting where we begin to track budget values, subcontract values, costs-to-date, costs-to-complete, and variances to name a few. To achieve this we use the industry leading accounting system by Timberline. With this system, the budget values are updated immediately with each and every invoice entry providing up-to-the-minute accuracy. Furthermore, every single entry is logged and copied providing a complete audit trail.
In turn, each Cost Report can be backed up with a detailed Change Order Control log identifying all contemplated and approved changes to date. Every cost identified in this log, whether approved or pending, is fully integrated into the Cost Report so that we not only see where the costs are, but also where they’re going.