Project Cost Tracking & Reporting
Hayes Strategy successfully tracks and evaluates project costs using a project management approach of planning that begins in the early stages of development.
One of the most difficult tasks in project management is cost tracking and staying on top of project expenses. Tracking costs involves estimating budgets, establishing controls, measuring results, updating forecasts and continuous communication. It is an ongoing process that must commence at the onset of planning and remain in place throughout the project life cycle.
Project Cost Tracking & Reporting Services
Monitoring, tracking, and reporting services included throughout the development of a project.
Manage Project Budget
Manage the project budget and monitor the General Contractors change order logs ensuring that all pending or projected costs/savings and tracked in a timely and accurate manner and reported to the owner regularly.
Meet with the owner regularly to provide executive level updates regarding project status. Review, manage and process for approval all payment application for the owner’s final review and payment.
Manage Change Orders
Develop, implement and manage a system for review and processing of change orders. The key to a financially successful project is to manage change orders and field authorization on a timely manner to prevent budget overruns or the need to negotiate change orders once work is in place.
Monitor Projected Costs
Provide regular monitoring (monthly) of the anticipated projected costs. Identify variances between actual and budgeted and advise the owner whenever project costs are anticipated to exceed budgets.
Provide Projection Reports
Revise and refine the anticipated final project cost, including projection reports monthly.