Facility Management Tips for Keeping Your Project on Time and on Budget

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There are many factors that go into a large-scale engineering or construction project, and it can be fairly difficult to keep track of every aspect of the project to make sure it stays on time and on budget. With the trust of the client at stake, it is crucial to take every measure possible to keep the facilities, workers, and scope of the project under control to deliver the most efficient and cost-effective result possible. Here are a few tips to make sure your project stays on target within the predicted time and budget.

Budget for Surprises

Be realistic when it comes to initially estimating the costs involved in a project. Understand the potential variables involved in the various situations that may be out your control, such as external considerations that can impact supplies, resources, labor, etc. The current price or rate for supplies or labor may not be the same at the beginning of a project as at the end. Be sure to consider the possibility or likelihood of changes that can occur down the road so your budget doesn’t unexpectedly get out of hand towards the later stages.

Review and Forecast

A project that runs its course without any budget management or re-forecasting of the budget is destined to significantly exceed its budget. Constantly revisiting the status of all the expenditures and reorganizing the budget to save costs in other areas give your project a much greater chance of keeping the project on track than with a one-time budget analysis.

Similarly to the project budget, the resource or labor usage should be continually evaluated throughout the course of a project. You should review the number of people currently working on a project and the future resource needs on a weekly basis to ensure that the correct resources are being fully utilized.

Encourage Labor Productivity

Low labor productivity is a major factor in projects finishing later and over budget. In the case of time-and-materials construction contracts, the contractor has little financial incentive to push for high productivity, as would be warranted with fixed-price contracting. The project manager should work with the contractors to find ways to demonstrate appreciation and incentivize the workers to perform safe and high quality work.

Manage Scope Creep Early

Scope creep is one of the most common causes of project overruns. As unplanned tasks work their way into you project, the billable hours and an increase in the resources used can get out of control. It is crucial that you make a thorough review of any contractor drawings, specification, and procurement documents and determine if any revisions are necessary well before any labor is carried out.

A detailed project schedule will help to monitor actual work progress against the initial timeline. The project manager and any relevant contractors working on the project should carry out regular reviews of the project schedule to ensure task durations are matching up to their planned schedule and task logic-flow is being applied appropriately.

If you are in need of any engineering, environmental, and construction services with a trusted and experienced company, contact The Entech Group today. Our skilled team works to complete any and all projects efficiently, on budget, and to the highest standards.

The Entech Group, Inc.
Office: 400 Morris Avenue, Suite 265, Denville, NJ 07834
Office: 202 Hamilton Blvd., South Plainfield, NJ 07080
Phone: 800-571-8661
Email: info@entechgroupinc.com