Mastering Construction Projects: A blueprint for success

Variance Analysis: Scrutinising project progress through variance analysis highlights deviations
from the budget, enabling project managers to make adjustments and steer the project back on
course.

Change Management: Changes to project scope, requirements, or other factors can impact costs.
It is important to have a change management process in place to assess the financial implications
of proposed changes and adjust the budget as necessary. Effective change management
safeguards against possible project disruptions.

Reporting: Consistent and regular financial reporting gives stakeholders insights into planned
versus actual costs, forecasts, and deviations which helps ensure well-informed decision-making.
A strong communication framework and precise reporting are vital components of effective cost
management. Regular updates on financial health empower stakeholders with insights,
facilitating collaboration and informed decision-making.

Case Study 1: £500K Savings on a Residential Project, London

Challenge: Delivering a high-quality 654-unit development with optimal ROI.

Solution: Proficient Design and cost Engineers conducted an Early MEP Risk Audit (EMRA),
streamlining designs and optimizing building services solutions. This included rationalising the
layout of the plant room and equipment, ensuring optimal pipe and cable sizing, and
recommending alternative building services solutions.

Value: The EMRA identified potential savings of £500,000 alongside streamlined construction
timelines.

Example 2: 10X ROI on a Student Accommodation Project, Ireland

Challenge: Delivering a premium 924-bed development with maximized value.

Solution: Accomplished Design and Cost Engineers conducted an in-depth design analysis,
uncovering deficiencies in the Mechanical and Electrical Designs.

Value: An added investment of €180,000 at the initial design stage averted significant
construction costs, yielding a remarkable 10X ROI while ensuring the project was delivered on
time and released to market as originally planned.

From reining in budgets to embracing change, cost management acts as the compass steering
construction projects toward successful completion. It bridges the gap between aspirations and
1
2