Construction Project Budget Template

The budget is the amount of money that is put aside to cover each of the individual expenses of a building or renovation project. It is a living document that tracks initial estimates against actual spend. To define the monetary needs of the project, an assessment is done on the project plans, designs and blueprints, breaking each into individual tasks and supply requirements.

What Kinds of Expenses are Included?

All project expenses should be included, from site demolition and preparation to materials and of course labor. A good budget will also include the costs of any equipment or machinery that will be need to be procured, all materials required by the designs, and in turn, any specialized labor needed to install them.

Are there expenses not directly related to physical construction?

Yes. Your project budget should include the costs for initial architectural planning, permits, registrations, inspections, certifications, and even safety materials, training, and equipment for the workers. Another common expense is the cost of site clean-up and disposal. Construction and especially remodelling can produce an enormous amount of debris which must be collected and disposed of.

What Kinds Of Expenses Are Often Missed?

It's easy to forget items not directly connected to the project. For example, you may need to cover the cost of transporting workers back and forth to the job-site. You'll also need to provide facilities for their hygienic needs - and that could mean renting portable toilets. In addition, you may need to include safety equipment and training, based on the regional regulations.

Should a Construction Budget Be Exact?

Unfortunately, very few builds go according to plan. There can be delays caused by materials shortages, accidents, and even weather so it's common for budget planners to factor in room for unexpected expenses.

Our Construction Project Budget Template will help you capture everything relating to your project so you don't find yourself surprised and short on cash midway through construction.

This sample resource is provided to you free by SINC BUSINESS CORPORATION to help with your compliance efforts and includes no warranty as to its suitability for any particular task. It is only our opinion based on our experience and should not be considered legal advice.