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INTRO
MODULE 3 COST CONTROL
INTRO
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Your budget is the most important part of your project. It is something that needs to be continuously referred to. There are a few ways that the budget can be stretched: 1. Getting more money (from the bank for example) 2. Reducing the Scope of Works (building less or to a less expensive standard) 3. Phasing the Works 4. The Route of Construction you choose.
Note: Refer to the table on page 9 of Module 1, remembering that choosing a self build route does not lower the Cost of Construction. It is your own time, effort and management skills that may reduce the overall spend.
Construction is all about compromises!
Even a project with a limitless budget still deals with the constraints of the site locality, the site geography, the local planning law, and what products are available at the time, the construction team and craftspeople available.
You could say a successful project is one where the series of decisions about prioritising and compromising were well made.
This is where your brief writing exercise from Module 1 Topic 2 comes in. The “must have” and “nice to have” hierarchy you have already established will help you to stay focussed on your end goal.
Extract from Module 1, Topic 2, page 10
Agility in your thinking early on in the process will serve you well. Meaning, if your budget doesn’t allow for all of your hopes, please don’t be disheartened. • Remain level headed • Take out your pen and paper and your original brief • Figure out what means the most to you
Your “must-have” list can be a mix of practical and emotional decisions. What you create must function properly, and it must make you happy.
And if you have to phase your project, the first part being small but mighty will boost you and keep you happy until you begin on the next phase.
I run through the example of my own renovation due next year later in this document. I see it as a wonderful challenge.
Note: It is important to note that phasing a project is more expensive in the long run because each time you have a contractor back for a new phase, you pay the preliminaries again.
