What factors will affect the cost of my project?

The cost of a construction project is affected by many factors. These include the quantity of work being undertaken, the quality of workmanship and materials required, and its difficulty or complexity. Other factors might include constraints on project programme, constraints on working arrangements such as phasing or remaining in occupation while works are carried out, delays, variations or increases to an agreed scope of work.

By identifying and considering variables such as these you will gain the ability to adjust the cost of your package of work if required. When planning a project, it can also be helpful to consider efficiencies and economies of scale that may assist with costs. By understanding and identifying these factors there will often be good opportunities to manage or reduce cost.

There are a number of key steps that you can take to reduce your overall project expenditure. Assemble a great project team with great project process, take good cost advice and adapt your project accordingly, create detailed and comprehensive plans for your building and for your project, and take steps to reduce the likelihood of contingency cost being required.