Cost Logic - Registered Quantity Surveyors and Cost Estimators’ Post

🔗 Understanding Cost-Plus Building Contracts: What You Need to Know 🏗️ Ever wondered how Cost-Plus Building Contracts work? This type of contract can provide flexibility and transparency for both homeowners and contractors. Discover the ins and outs, benefits, and potential pitfalls of Cost-Plus Contracts in our latest article. Stay informed and make better decisions for your construction projects! https://shorturl.at/M23XW #CostLogic #QuantitySurveying #CostEstimation #constructionmanagement #construction

RENOVATION RESCUE: SELECTIONS THAT DELIVER AN ROI Managing your Design Team’s selections is key in generating an ROI. -Hire Streamline to Value-Engineer choices made that don’t render an ROI at the end of the project. -Hire Streamline to offer Design Build solutions where cost-effective options look great, and generate an ROI. Remember, your Contractor can only build what has been answered, approved, and paid for. Call us if you’re interested in a predictable experience and a solid ROI. On Time, In Budget, Every Time! The Streamline Builders, Inc. difference, working for YOU!! #success #clienttestimonial #construction #quality #project #projectmanagement #contractors #multifamily #multifamilyrealestate #losangeles #losangelesrealestate #generalcontractor #generalcontractors #growth #capital #capex #assetmanagement #propertymanagement #apartments #apartmentinvesting #assetmanager #waterproofing #unitrenovation #commonarearenovation #residential #multifamilyrenovation #bidcomparison #bids #bidding #contractorbidding #maintenance #SB721 #BalconyRepairs

RENOVATION RESCUE! PROJECT ACCOUNTABILITY: Don’t Get Caught Off Guard Managing your Design Team’s responses is crucial if your builder is to deliver your project on-time and in-budget. -Hire Streamline to document your project’s communication step by step. -Hire Streamline to hold your design team accountable when answers and approvals are not provided within 2-weeks to ensure your GC can build. Remember, your Contractor can only build what has been answered, approved, and paid for. Call us if you’re interested in a predictable experience and a solid ROI. On Time, In Budget, Every Time! The Streamline Builders, Inc. difference, working for YOU!! #success #clienttestimonial #construction #quality #project #projectmanagement #contractors #multifamily #multifamilyrealestate #losangeles #losangelesrealestate #generalcontractor #generalcontractors #growth #capital #capex #assetmanagement #propertymanagement #apartments #apartmentinvesting #assetmanager #waterproofing #unitrenovation #commonarearenovation #residential #multifamilyrenovation #bidcomparison #bids #bidding #contractorbidding #maintenance #SB721 #BalconyRepairs

What can you, as a homeowner, do to minimise cost risks when getting building quotes? When embarking on a construction project, whether it's a new build or a renovation, getting a clear and accurate quote from your builder is crucial. It not only sets expectations for both parties but also helps in budget planning and contract administration. However, due to the complex nature of construction work, there are often uncertainties that can affect the final cost. If project specifics are unknown when the builder is preparing their quote, they will do on of two things. They will either make their own allowance (which is usually on the high cost side) or they will exclude the items of work from their price. If builders make their own allowances for undefined work, they may overestimate to protect themselves, leading to higher initial quotes, or underestimate, resulting in cost overruns. If builders exclude uncertain aspects from the quote, this could lead to significant unplanned additional cost for the client as these elements come to light. This is where the concept of provisional sums or prime cost (PC) sums comes into play, acting as a safeguard against unexpected additional cost and helping to minimise cost risks. Provisional sums are budget allocations included in a construction contract for work or materials that are not yet fully defined. These sums are essentially placeholders for parts of the project that cannot be accurately priced at the outset. They cover potential expenses for which details might not be fully fleshed out, such as unforeseen ground conditions requiring additional excavation or the cost of materials that have yet to be selected. Prime Cost (PC) sums are similar to provisional sums but the allowances related to specific items such as tiling, fixtures, hardware and carpet. An agreed estimated amount for the supply of these items are included in the quote but product specifics may not be known until later. Both provisional sums and PC sums will have mechanisms outlined in your building contract for managing the cost adjustment of these items as the building progresses. While building projects inherently come with uncertainties, the strategic use of provisional sums and PC sums in building quotes can significantly mitigate cost risks. By fostering transparency, allowing for flexibility, and promoting detailed planning and communication, architects, builders and clients can navigate the complexities of construction projects more smoothly. This approach not only helps in keeping the project within budget but also in building a trusting relationship between the client and the builder, paving the way for a successful project completion.

RENOVATION RESCUE! PROJECT ACCOUNTABILITY: Don’t Get Caught Off Guard Managing your Design Team’s responses is crucial if your builder is to deliver your project on-time and in-budget. -Hire Streamline to document your project’s communication step by step. -Hire Streamline to hold your design team accountable when answers and approvals are not provided within 2-weeks to ensure your GC can build. Remember, your Contractor can only build what has been answered, approved, and paid for. Call us if you’re interested in a predictable experience and a solid ROI. On Time, In Budget, Every Time! The Streamline Builders, Inc. difference, working for YOU!! #success #clienttestimonial #construction #quality #project #projectmanagement #contractors #multifamily #multifamilyrealestate #losangeles #losangelesrealestate #generalcontractor #generalcontractors #growth #capital #capex #assetmanagement #propertymanagement #apartments #apartmentinvesting #assetmanager #waterproofing #unitrenovation #commonarearenovation #residential #multifamilyrenovation #bidcomparison #bids #bidding #contractorbidding #maintenance #SB721 #BalconyRepairs

RENOVATION RESCUE! PROJECT ACCOUNTABILITY: Don’t Get Caught Off Guard Managing your Design Team’s responses is crucial if your builder is to deliver your project on-time and in-budget. -Hire Streamline to document your project’s communication step by step. -Hire Streamline to hold your design team accountable when answers and approvals are not provided within 2-weeks to ensure your GC can build. Remember, your Contractor can only build what has been answered, approved, and paid for. Call us if you’re interested in a predictable experience and a solid ROI. On Time, In Budget, Every Time! The Streamline Builders, Inc. difference, working for YOU!! #success #clienttestimonial #construction #quality #project #projectmanagement #contractors #multifamily #multifamilyrealestate #losangeles #losangelesrealestate #generalcontractor #generalcontractors #growth #capital #capex #assetmanagement #propertymanagement #apartments #apartmentinvesting #assetmanager #waterproofing #unitrenovation #commonarearenovation #residential #multifamilyrenovation #bidcomparison #bids #bidding #contractorbidding #maintenance #SB721 #BalconyRepairs

RENOVATION RESCUE: SELECTIONS THAT DELIVER AN ROI Managing your Design Team’s selections is key in generating an ROI. -Hire Streamline to Value-Engineer choices made that don’t render an ROI at the end of the project. -Hire Streamline to offer Design Build solutions where cost-effective options look great, and generate an ROI. Remember, your Contractor can only build what has been answered, approved, and paid for. Call us if you’re interested in a predictable experience and a solid ROI. On Time, In Budget, Every Time! The Streamline Builders, Inc. difference, working for YOU!! #success #clienttestimonial #construction #quality #project #projectmanagement #contractors #multifamily #multifamilyrealestate #losangeles #losangelesrealestate #generalcontractor #generalcontractors #growth #capital #capex #assetmanagement #propertymanagement #apartments #apartmentinvesting #assetmanager #waterproofing #unitrenovation #commonarearenovation #residential #multifamilyrenovation #bidcomparison #bids #bidding #contractorbidding #maintenance #SB721 #BalconyRepairs

Whether you’re remodeling or building new, a construction project can overwhelm you with the sheer number of decisions it requires. But one of the earliest and most important decisions is when to get a contractor involved. The building process you choose makes a difference and will impact the budget and schedule. Including the contractor early can save you money and time. Read the article on our website!

RENOVATION RESCUE: SELECTIONS THAT DELIVER AN ROI Managing your Design Team’s selections is key in generating an ROI. -Hire Streamline to Value-Engineer choices made that don’t render an ROI at the end of the project. -Hire Streamline to offer Design Build solutions where cost-effective options look great, and generate an ROI. Remember, your Contractor can only build what has been answered, approved, and paid for. Call us if you’re interested in a predictable experience and a solid ROI. On Time, In Budget, Every Time! The Streamline Builders, Inc. difference, working for YOU!! #success #clienttestimonial #construction #quality #project #projectmanagement #contractors #multifamily #multifamilyrealestate #losangeles #losangelesrealestate #generalcontractor #generalcontractors #growth #capital #capex #assetmanagement #propertymanagement #apartments #apartmentinvesting #assetmanager #waterproofing #unitrenovation #commonarearenovation #residential #multifamilyrenovation #bidcomparison #bids #bidding #contractorbidding #maintenance #SB721 #BalconyRepairs

Whether you’re remodeling or building new, a construction project can overwhelm you with the sheer number of decisions it requires. But one of the earliest and most important decisions is when to get a contractor involved. The building process you choose makes a difference and will impact the budget and schedule. Including the contractor early can save you money and time. Read the article on our website! https://lnkd.in/gW_Qvdtb