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Budgets and Job Cost Management Process

Revised October 24, 2008

Description

BuildTopia maximizes the user's ability to control costs throughout the construction process. Job cost management tools are available before, during and after construction within the budgeting, bidding and contracting, project management and post construction processes. This section discusses the key points of cost control. The flowchart below allows you to navigate directly to the steps to facilitate cost control within your company using BuildTopia.

Budgets are valuable tools for BuildTopia users for several reasons:

• Template Budgets provide the ability to project costs prior to construction and to house up-to-the-minute plan-based contracted costs at the data library.
• Proforma Budgets:
• provide the ability to measure contracted costs against budget assumptions at the time a project commences and to compare contracted costs to established project level budgets through project buildout.
• present management with a base line to determine accurate option pricing. If contracted costs are incomplete when creating option pricing as a markup of cost, it is valuable to consider 'best available' data from either contracted cost or from budgeted cost.
• Original / Current Budgets provide comparison of committed costs to original budgeted costs. Job Cost Reports compute cost-to-complete during the construction process.

Flowchart

The following flowchart demonstrates the tasks and decision points for Job Cost Management.