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Construction Forecasting Software

Track cost forecasts in real-time and monitor profitability at every project stage with Bauwise’s easy-to-use forecasting software.

Why Choose Us

Precise Construction Forecasting

Every construction company needs to forecast the costs of its project. Our forecasting tools will help you understand how and when costs will incur throughout the project lifecycle. A clear understanding of costs, cash flow, and work packages will help you make more informed decisions and move the business forward.

Forecast reports for all projects

Project forecasting is integral to budgeting and determining project key performance indicators. Bauwise is packed with forecasting and reporting tools to give stakeholders a complete overview of your projects.

Avoid costly mistakes

Project managers often find projects running significantly over budget, affecting customer satisfaction and possibly putting future projects at risk. Using construction forecasting software that provides a single centralized overview of cost and profitability forecasts helps you avoid potentially costly errors early on.

automated construction budget forecasting

Automated Construction Budget Forecasting

Get automatic cost and profitability forecasts for your construction projects. You only need to follow the changes in the forecast and act accordingly. Don’t waste any more time reviewing various Excel files and track the status of your projects with an automatic forecast.

  • Automatically calculate cost line-item profitability.
  • Predict outcomes based on analysis and trends, then make conclusions for improvements.
  • Free yourself from manual calculations and repeated data entry.
  • Automate cost and profit forecasts to ensure efficiency.
  • Save 3 to 5 days a month with automated cost forecasts.
construction budget forecasting software

Manage Budgets with Construction Forecasting Software

As your project progresses and goes through stages such as site preparation or groundwork, you can see exactly how much has been spent and how much is still available in the budget. You can see which jobs are profitable and which turned out to be unprofitable.

  • Have a clear view of how much time and money you spend on the various construction project stages.
  • Know how much budget is left for each project phase.
  • Understand trends and gain a transparent overview of projects for everyone, from asset owners to project managers.
construction portfolio forecasting

Portfolio Profitability Forecasts Tracking

Manage your portfolio profitability and get an overview of your budget profit forecast from a single dashboard. When you make changes to the budget, you will see how your overall portfolio profitability changes accordingly. Forecast everything from project costs and job completion dates to revenue and profitability growth.

  • Track approved expenses and update the cost forecast to maintain profitability.
  • Ensure that you are up to date with the latest costs and profitability in real-time.
  • Get valuable information and insights that can be used to predict future expenditures.
  • Stay ahead of your incoming costs and make budgeting adjustments based on cost forecasts.
automated construction budget forecasting

Forecast Construction Costs Down to the Details

Build forecasts at any level within your project hierarchy. You can summarize the forecast from the lowest level, make forecasts based on detailed task-based plans, and create higher-level forecasts to get a bigger picture of your project. As the budget details change, dive deeper into your data and break down estimated costs to any line item over the project’s duration.

  • Forecast costs at different levels.
  • Forecast costs at the job, cost type, or category level.
  • Forecast jobs quickly by cost codes.
  • Get insight into where your project is headed.
  • Make manual changes before finalizing.
construction-budget-forecasting

Make Better Forecasts with Accurate Data

Outdated and incomplete data affect your construction project forecasts and the critical business decisions based on those estimates. Free yourself from countless hours spent searching and updating data. Allow your team to work with one database; no one needs to spend time manually re-entering or accidentally duplicating data.

  • Make quick and well-informed decisions based on accurate forecasts.
  • Get insight into your cost data and understand forecasts better.
  • Forecast jobs based on current production data so you know precisely where each phase ends.
  • Manage your cost data to get more precise forecasts.
construction portfolio forecasting

All-In-One Construction Forecasting Software

Manage future projects more efficiently with insights from previously gathered data and get real-time access to all relevant information.

  • Know whether the project is profitable before its end.
  • Predict costs and plan budgets.
  • Estimate and capture project costs.
  • Analyze and forecast project outcomes.
  • Avoid costly mistakes by reducing the level of manual administration and calculations done with Excel spreadsheets.
  • Manage and forecast budgeting risks.
automated construction budget forecasting

Get Early Notifications of Budget Overruns

  • Get notified when the contracted job cost or the total amount of approved expenses exceeds the cost forecast for a single budget line item.
  • Assess the current budget state during any project phase and get notified about budget overruns early in the process.
  • Control cost overruns.

Trusted By

More than 10 000 projects managed by using Bauwise

FAQ

Construction forecasting software is a specialized tool designed to predict the future outcomes of a construction project based on various data inputs and variables. It assists in anticipating costs, project duration, resource allocation, potential risks, and other critical elements of a project. These predictions help contractors, project managers, and stakeholders make informed decisions, manage risks, and ensure projects remain on track and within budget.

Key features and benefits of construction forecasting software include:

  1. Cost Estimation: Predict future costs based on current spending, project progression, and other factors.
  2. Schedule Prediction: Estimate project timelines and anticipate potential delays.
  3. Resource Allocation Forecast: Predict labor, machinery, and material requirements over time.
  4. Cash Flow Analysis: Anticipate future cash inflows and outflows, assisting in budgeting and financial planning.
  5. Risk Management: Identify potential risks or challenges and simulate their impacts on the project.
  6. Scenario Analysis: Test various what-if scenarios to understand possible outcomes and make contingency plans.
  7. Integration: Often integrates with other project management tools or financial systems for seamless data flow.
  8. Data Analytics and Visualization: Transform raw data into actionable insights through graphs, charts, and reports.
  9. Historical Data Utilization: Use past project data to refine predictions for current and future projects.
  10. Real-time Updates: As project data changes, the forecasts adjust accordingly, offering real-time insights.

 

Companies can reduce uncertainties, make data-driven decisions, optimize resources, and enhance overall project management efficiency using construction forecasting software.

Forecasting a construction project involves predicting future outcomes based on available data and current progress. Here’s a step-by-step approach:

  1. Historical Data: Use past projects to establish baselines for costs and durations.
  2. Scope Definition: Clearly outline the project’s goals and requirements.
  3. Schedule: Create a project timeline with key milestones.
  4. Cost Estimation: Predict direct (labor, materials) and indirect (overhead) costs.
  5. Resource Forecast: Predict labor and equipment needs over time.
  6. Cash Flow: Estimate when you’ll incur costs and receive payments.
  7. Risk Assessment: Identify, quantify, and develop strategies for potential risks.
  8. Use Technology: Implement forecasting software for real-time adjustments and scenarios.
  9. Review and Update: Continuously compare actual progress to forecasts and adjust as needed.
  10. Communication: Keep stakeholders informed of forecasts and any changes.
  11. Post-Project Analysis: After completion, compare forecasts to actual results for future refinement.

 

By following these steps, you can efficiently anticipate and plan for the demands and challenges of your construction project.

Construction forecasting involves predicting various aspects of a construction project to ensure its successful and timely completion. The different types of construction forecasting include:

  1. Cost Forecasting: Predicting the total cost of the project based on current spending, commitments, and anticipated changes. This includes direct costs (like labor, materials, and equipment) and indirect costs (like administration and site overhead).
  2. Schedule Forecasting: Estimating the time required to complete the project or individual milestones, taking into account any delays or accelerations.
  3. Resource Forecasting: Predicting the quantity and timing of resources needed, including labor, equipment, and materials. This helps ensure that the right resources are available at the right time.
  4. Cash Flow Forecasting: Estimating the inflow and outflow of cash over the project duration. It helps manage liquidity, understand when additional funding might be needed, and when to expect payments.
  5. Risk Forecasting: Identifying potential risks, estimating their likelihood and impact, and predicting their possible effects on the project’s cost, schedule, or quality.
  6. Demand Forecasting: For construction firms or developers, predicting the market demand for a specific project or infrastructure can help in strategic planning and decision-making.
  7. Environmental Impact Forecasting: Predicting the ecological implications of a construction project, both during and after construction.
  8. Quality Forecasting: Anticipating the quality of the finished project based on current work standards, materials used, and the workmanship observed.
  9. Safety Forecasting: Predicting potential safety issues or incidents based on current practices to address them and maintain a safe work environment proactively.
  10. Post-construction Forecasting: Predicting aspects like the life cycle cost of a facility, maintenance requirements, or potential future renovations.

 

By employing these types of forecasting, construction professionals can make proactive decisions, manage risks, ensure efficient resource allocation, and enhance the overall chances of project success.

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See for yourself how simple and efficient can construction forecasting software be

The typical learning time is just two sessions, while our software can save you up to 4 workdays per month

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