MHPM works collaboratively with the integrated project team to provide construction leadership by proactively participating in the design of the project and budget development.
Cost Control and Budgeting during Design Development
Working with the integrated project team, the construction manager assists in the development of the project design by providing constructability, cost estimate and schedule input. Reports are prepared at pre-determined milestone dates that quantify project deliverables in tandem with design development.
As part of our service, we conduct a life cycle cost analysis that provides the integrated project team with options to assist in the evaluation of design solutions and their impact to the cost estimate and project schedule.
Creating a control budget and schedule
Based upon the cost estimate, the construction manager will create a control budget (developed from cost estimates) and a critical path schedule reflective of the scope developed together with a cash curve that reflects the estimated cost expenditure of the project.
Through dialogue with the integrated project team, both the budget and schedule documents are used as a yard stick to measure the actual status of the project.
Managing the Budget
The construction manager will manage the control budget utilizing experience, expertise and knowledge of the current market place and new technologies. As the project develops and tenders are called, the results are measured against the control budget and will provide the Client with an accurate measure that assesses the project’s financial status.
Cost Tracking Records
The construction manager will enter the control budget into a cost log, an integral tool that assists in the cost management of the project which is maintained throughout the project’s duration.
This log identifies the project’s control budget and tracks the scope commitments and forecasted costs of each element of the project.