The Rundown

Managing Construction Costs: It’s All in the Details

By August 11, 2020 No Comments

Material costs are an increasing concern for the construction industry. In 2018, the industry saw a 7.4% increase in the cost of materials, with some commonly used materials seeing double-digit increases. 

There are a variety of factors contributing to this rise, with shortages and supply chain issues being chief among them. The impact of the COVID-19 pandemic, which has slowed logistical networks globally, is almost certainly going to exacerbate these challenges. 

Maximizing efficiency in material usage is critical both for cost control and the timely completion of projects, particularly when shortages are ongoing. Waste creates additional expense both in the form of lost materials and costly delays for construction companies, contractors, and homeowners. 

In a recent blog from the construction planning software company PlanGrid, helpful strategies for controlling rising material costs in projects are provided. In particular, there is great emphasis placed on planning and coordination. Most projects involve multiple parties with different perspectives and access to information. Cost control starts with creating a shared vision for everyone involved in the project. This shared perspective is a key component for maximizing efficiency and managing costs.

The more upfront planning and coordination,
the less unexpected expense throughout the project. 

It’s easy to focus on cost control at a macro scale, but remember that small savings add up in the end. That may include time lost on a job because of multiple runs to the store. With the ability to shop and schedule deliveries from our web app, TommyRun contributes to a lean and efficient project.

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