Allocate budget based on construction stages or buildings. Track Forecast to Complete (FTC) and Estimate at Completion (EAC). Control budgets through versions and approval locks. Forecast profitability, manage accruals, and sync financial data with integrated accounting or ERP software.
Bauwise helps construction teams achieve automated construction budgeting & forecasting — to improve cost control, streamline workflows, and deliver on budget.
Construction project profitability
Construction Projects
Of Construction Budgets
Create or import construction budgets by phase, task, or division. Easily copy and paste data from any spreadsheet directly into Bauwise — no upload required. The system automatically generates Work Breakdown Structure (WBS), which can optionally be mapped to a predefined template.
Track, review, and approve budget changes by capturing snapshot-based versions of the project’s financial statuses in monthly or weekly intervals. Compare version forecasts, monitor changes, and maintain a clear audit trail. Ensure that both project managers and executives are aligned before confirming budget revisions.
Monitor project spending against budgeted amounts and catch deviations. Bauwise enables intelligent automated connection of actual costs to budget lines, commitments, and cost codes — ensuring financial clarity across every phase of the project.
Get real-time visibility into the profitability of each project by continuously tracking margins, change orders, committed costs, and actuals. See how each new invoice, purchase order (PO), or change order affects each project’s bottom line.
Track and project future costs based on real-time commitments, trends, and performance data. Generate forecasts manually or automatically, apply buffers and corrections, to ensure transparency at both project and portfolio levels. Integrated approval workflows guarantee that only validated data is reflected in the financial reports.
Split complex construction projects into sub-projects by phase, location, or structure. Track budgets, costs, and progress for each sub-project independently, while maintaining a unified view through consolidated reporting.
Access standardized and adjustable reports at any point in the project lifecycle — from budget planning to final billing. Monitor revisions, commitments, and changes in real time to support internal decisions and provide clients with clear, up-to-date insights.
Log unbilled costs and reflect expected expenses in reports before invoices arrive. Track accrued labor, material, and equipment costs to maintain accurate cost reporting and align budgets with real-world spending.
Connect Bauwise to your Enterprise Resource Planning (ERP) or accounting systems to eliminate double entry and ensure data consistency. Automatically sync invoices, budgets, purchase orders (PO), subcontractor contracts, and costs between Bauwise and ERP/accounting systems to align financial and project reporting.
Structure and manage construction project teams with clearly assigned roles, responsibilities, and access levels. Control who can view, edit, or approve budgets, change orders, and financial data based on their role. Keep internal teams and external stakeholders aligned without compromising control.
Managing €10B+ in Construction Budgets with Bauwise
Use our ready-made construction budget template to structure your project costs, categories, and funding sources—built for Excel and fully compatible with Bauwise Construction Cost Management software.
Automatically updates transactions from integrated accounting software. Compares actuals to cost forecasts to ensure budget accuracy and spot overruns. Captures actuals for all commitments, including purchase orders (POs) and contracts. Provides drill-down into any level of transaction or cost line for full visibility.
Uses AI-powered invoice reading to extract data directly from invoice files. Automatically detects and applies approval workflows based on the role hierarchy. Enforces approval limits, automatically restricting invoices that exceed the set threshold. Supports invoice splitting across budget lines to ensure the project stays within budget limits.
Track, review, and approve construction project scope changes. Submit change order requests with attachments, automatically calculate their impact on project cost, and adjust budgets upon approval. Maintain versioned audit trails and status tracking to ensure compliance, transparency, and project continuity.
We’ve got your questions covered. If you can’t find the answer you’re looking for below, feel free to contact us via chat.
Construction budgeting is the process of building a cost baseline for a project — based on the Work Breakdown Structure (WBS) and the organization’s cost-coding structure (Cost Breakdown Structure, Chart of Accounts, or equivalent), estimates and bids — with contingency and approval limits, then formalized and updated as contracts are awarded. Construction budgeting is done by:
With Automated Construction Budgeting & Forecasting, data from POs, invoices, and schedules update the budget in real time, trigger variance alerts, and roll up construction budget forecasts across projects and phases.
Construction cost forecasting calculates the Estimate at Completion (EAC) and the project’s cash flow forecast based on current scope, progress, commitments, and performance. Accuracy improves when forecasts are:
To automate construction budgeting and cost forecasting, you need to:
Bauwise Automated Construction Budgeting & Forecasting capability pulls data from integrated ERP or accounting software to keep construction budgeting and forecasts current and auditable, enabling automated construction cost forecasting.
Simply put, budget forecasting time-phases the approved budget into a cash-flow plan over the schedule, while cost forecasting predicts Estimate at Completion (EAC) / Estimate to Complete (ETC) from commitments, actuals, quantities, and change orders.
How they work together: Each cycle, you reconcile time-phased budget forecasts vs time-phased cost forecasts to spot cash-flow gaps, over-commitment, or overruns. Automated Construction Budgeting & Forecasting updates both sides automatically using data from Enterprise Resource Planning (ERP) or accounting software and the project schedule, providing alerts on variances.
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The typical learning time is just two sessions, while our software can save you up to 4 workdays per month
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