Keep up with cost tracking for multiple projects at once.
By making changes to the budget or creating commitments, you will receive automatic cost forecasts, which will help you manage the project more effectively and anticipate various budgeting problems that may arise in the future. Bauwise displays separate cost forecasts for each cost line you have included in the budget. In addition to the general cost code forecast, you can see the variance of the previous cost forecast, which shows whether you could complete the work within the budget and make a profit or whether you exceeded the budget for the given job. Automatic cost forecasts are essential for you to manage costs better and predict project progress.
Our cost-tracking software allows you to organize costs based on multiple variables.
During project management, it is often necessary to introduce additional modification works, due to which the prices of construction work change. To adapt to these changes and make the right budgeting decisions, you need to follow the cost forecast at the level of each construction job. Achieving profitability requires cost-line-level visibility of each job to see which jobs turned out to be over budget and which jobs you could complete with the expected profit margin.
Most construction projects experience changes during the project’s life, which is where change orders come into play. It is often difficult to forecast all project costs to the penny, so contractors must make budget adjustments and consider new prices when unforeseen circumstances require it. With the Bauwise change order process customized for different construction companies, you’ll be more prepared for unexpected price changes that often occur in construction projects.
Bringing together all cost data and control workflows, such as contracts, budgets, commitments, and change orders, into one platform makes project cost tracking simple and convenient. Bauwise automatically links all contracts to cost items, so you can easily see which jobs are associated with subcontractors, keeping both contracts and cost data organized and easy to analyze.
Cost overruns not only affect the margins of construction companies but also prevent the implementation of future projects. Bauwise construction cost tracking software allows project managers to identify cost and budget risks before they become significant problems.
Our construction cost tracking software saves you from messy excel spreadsheets where you have to use multiple formulas to calculate costs manually. With Bauwise, your cost tracking is in safe hands, so you don’t have to worry whether you’ve done the budgeting calculations correctly or if something crucial is missing from the budget. Free yourself from manually tracking every cost item in your budget and focus on things that require your attention.
More than 10 000 projects managed by using Bauwise
Tracking construction costs effectively involves a combination of organization, technology, and regular oversight. Here’s a concise guide:
Consistent oversight and utilizing the right tools can help ensure construction costs stay on track and within budget.
A cost management system in construction refers to a structured approach or set of tools designed to plan, estimate, budget, track, and control project costs from inception to completion. The primary aim is to ensure a project is completed within its approved budget and maximize profitability.
Key components of a cost management system in construction include:
In essence, a cost management system in construction provides a structured framework to ensure projects are financially efficient, helping to mitigate risks associated with budget overruns and boosting overall project profitability.
The typical learning time is just two sessions, while our software can save you up to 4 workdays per month