Cost must be kept in check with sound estimating and budgeting. However, a realistic decision making process, tight financial controls and an effective information management system for project monitoring are equally important. Utilizing methods and procedures learned from experience, we work hard to accurately forecast and track costs. This is vital to the project’s success.
Our financial accounting procedures enable comparisons of funds available, funds committed and funds required for completing the project. They also enable contract commitment to be readily understood and can pinpoint budget variances. We calculate and evaluate variance from the budget and present recommendations to the team. By identifying timely indicators, we proactively avoid budget overruns.
We begin with Clients/A&E Scope Plan. From there we review the scope prior to design and create estimate that qualifies with the scope. This allows for our team to maximize our client’s budget to be able to perform additional work if necessary.
TGM has worked with public institutions for the last 10 years. Currently, we are working with institutions such as Houston Independent School District and Fort Bend Independent School District. With this experience, we have valued the opportunity to improve environments for students, parents and teachers. Our many years of experience working in public environments have taught us the value of accurate planning and estimating. In addition, it has given us a firm functional basis for producing work plans with achievable cost and time goals.
The cost proposal estimate provides a conceptual estimating system based upon historical costs from similar projects. This tool manages the design to meet the requirements and budget.
In addition to ongoing estimating provided during the constructor’s design assist role, full estimates are typically prepared at the 30%, 60% and 95% design document stages to this acts to define the cost of major elements and sub-elements. From this information, problem cost areas are identified for review and evaluation. The estimate becomes the basis for the computerized cost control model that is used to monitor the project status throughout completion.
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Our extensive contract experience has taught us how to manage fluctuating workloads. Consequently, we anticipate surges and downturns and adjust accordingly. Additional staff from other projects can be temporarily added to increase the work capability, providing virtually unlimited expansion.
We have been working with contracts long enough to gain an appreciation of planning and funding cycles and the impact of limited windows of facility availability for construction modification and repair. We are prepared to work with Client representatives to optimize funds and time as the contracts sways form high to low. On way we do this is “shelf” projects that are awaiting funds so that the projects in questions are ready to go the minute funding becomes available.