Create construction budgets that give proper insight without over complication.

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1. The importance of project budgets
   1. Beginning roadmap of how to build
   2. Make you and your team plan and understand the project
   3. Gives you a snapshot of the project during consrtuction
2. What makes a good budget
   1. The complexity of your budget depends on the project
   2. At a minimum catch labor, materials, subcontractors and equipment
      1. Break it down by category or SOV line items
   3. Develop tracking mechanisms that reconcile with your accounting
3. Make them practical
   1. Don’t get too complex
   2. What is the minimum you need to get a clear picture of the project
   3. You want to be able to look at your budget and get an understanding of project status

Key Questions:

1. How do you budget your projects?

2. Do you establish construction budgets?

3. Do you monitor your budgets?

4. How can you improve?

Take-Action Items:

1. Review your budget process

2. Simplify them

3. Monitor them regularly