Construction Cost Control - Complete Guide | OneEstimate
OneEstimateFebruary 2, 202618 min read
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Table of Contents
Why Cost Control Matters in Construction
Construction projects are notorious for going over budget. Studies show that 80% of construction projects exceed their original budget by an average of 28%. Effective cost control is the difference between a profitable project and a financial disaster.
The 5 Pillars of Construction Cost Control
1. Accurate Initial Budget
Everything starts with a realistic budget. Use unit price analyses (APUs) based on real market data, not outdated estimates.2. Progress Tracking
Monitor actual costs vs. budgeted costs at regular intervals. Weekly tracking is ideal for most projects.3. Change Order Management
Document every change, no matter how small. Uncontrolled changes are the #1 cause of budget overruns.4. Vendor Management
Negotiate prices, compare quotes, and maintain a database of reliable suppliers with current pricing.5. Technology Adoption
Manual spreadsheet tracking is slow and error-prone. Modern tools like OneEstimate automate cost tracking and provide real-time analytics.Activate your account and find construction costs per m² inside OneEstimate
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Activate my free accountKey Metrics to Track
| Metric | Formula | Target |
|---|---|---|
| Cost Variance (CV) | Earned Value - Actual Cost | > 0 (under budget) |
| Cost Performance Index (CPI) | Earned Value / Actual Cost | > 1.0 |
| Estimate at Completion (EAC) | Budget / CPI | Within 5% of budget |
How OneEstimate Helps Control Costs
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