How to keep a transformation project's budget under control

Project Management1 min read

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Where overruns begin

The most common source of budget variance in a transformation is incomplete knowledge of the existing building. Hidden services, structural surprises and vague scope become expensive decisions on site.

Start with a survey

A detailed survey makes risk visible before contract. Documenting the building, non-destructive testing where needed and specialist opinions are the soundest basis for a contingency allowance.

Put the scope in writing

Scope should be written and measured: which spaces, which material class, which systems. Changes should be presented with their price and schedule impact before being executed.

Report regularly

A monthly cost report compares completed, ongoing and remaining work packages against actual cost, so variance is noticed before it grows.