Money Missing from Your Budget

Money Missing from Your Budget

Have you ever had the feeling that there are a few dollars missing from your personal budget? You know, when you’re sure you put the right amounts in there, but at the end of the month there is clearly a miss between expectations and actual expenditures. Everything seemed to be reasonable in the plan, but the results did not work out. Something was missing.

 

Now imagine that you’re building a new commercial structure. You have a budget of millions or perhaps tens of millions of dollars. The finished building will provide new space and opportunity for its occupants. You expect that ongoing revenues will pay back a good return on the capital invested.

 

But somehow, like that money in your budget, during construction your planning fails. Money seems to disappear, and for the life of you, you’re not sure what you could have done to prevent it.   What you do know for sure is that your delays and cost estimate overruns have both made it harder to make the same return on investment you and your financial team projected. These construction problems have delayed the project’s profitability, and have reduced its total value over time. The construction execution, not the idea, has fallen short.

 

This is the very reason why professional Construction Management firms exist. When the amount is millions instead of a hundred in your budget, a percent or two lost in wasted expense, or over-runs ends up significantly impacting the value of the investment.

 

But there is help for this type of problem.

 

Professional Construction Managers are highly skilled in many phases of construction and designers, understanding the types of skills needed and how to find and manage those companies. The contractors on a large job don’t manage each other, so lapses and delays can occur without someone actively coordinating all those contractors. That is a key job that Construction Managers do: They ensure a smooth and coordinated application of resources (money) to optimize the time and effort of contractors and designers with different goals. Leaving out significant important events and dependencies between activities will turn what looks like a good construction plan into a costly headache. Construction Managers understand all the different activities and milestones that must be undertaken in a substantial project and will ensure that omissions and oversights do not sink your construction project.

 

Verity provides Construction Management services that guide and coordinate the team, ensure compliance with government regulation, and account for an incredibly complex set of unknowns – things that are clear and apparent to someone who works on your behalf to optimize your investment, but which may not be as important for a general contractor who maybe aligned to a different set of goals. Like a medical specialist with years of training to perfect their practice, Verity will deliver great Construction Management outcomes, preserving your investment and optimizing its return.

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