Tracking the Project Cost and Management of Variations

Cost control is an ongoing process from project inception to completion and forms an integral part of the design and construction process which is traditionally led by the Quantity Surveyor. Once the budget is formally approved that is the benchmark against which the forecast costs are measured.

Our reporting issued on a monthly basis during construction provides information for the Client and Project Manager under the following headings:

  • Executive Summary
  • Procurement status.
  • Budget Report that reports forecast final cost against the approved budget.
  • Financial Status for each works package.
  • Contract Status providing contractual information for each package.

The budget element of the report tracks the forecast final cost for the project against the approved budget and considers awarded works packages, agreed variations, variations to be agreed, forecast changes and contractual claims for prolongation etc.

A crucial element of the Construction phase services provided by GES is Change Management in dealing with the financial elements of design changes and other variations that traditionally happen on construction projects. These changes may be the result of requested general changes from the Client, additions & omissions to the scope of works, design coordination problems, expanded design detailing etc.

The Quantity Surveyor may provide indicative costings to the Client for proposed design changes with pricing options when required. They also carry out a detailed review of submissions from the Contractor for the cost of claimed design changes with reference to the contractual requirements for evaluation of variations. The summation of all the changes being captured in financial reporting keeping the stakeholders informed of the anticipated total construction cost for the project.