Project cost
The actual amount of money spent on a specific construction project.
Project cost encompasses all expenses associated with the execution of a construction project, including labor, materials, equipment, and overhead. Effective cost management is crucial for ensuring that the project stays within budget, meets financial goals, and delivers value to stakeholders.
Used in a sentence
Tracking project cost is essential for financial management and ensuring profitability.
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Capital Project Management: A Quick Guide for Construction Pros
With aging infrastructure and new technology needs, capital projects will remain a high priority for communities around the world in the coming years. Effectively managing capital construction projects is necessary to protect the financial investment in these large-scale developments — and to successfully deliver the infrastructure society needs. This article explores capital project management, focusing […]
Avoiding The App Trap: Overcome Financial Silos to Connect Field & Office
For general contractors working on razor-thin margins, rework and project delays are more than simple inefficiencies — they are major threats to the bottom line. For years, GCs have attempted to fix isolated operational issues with task-specific solutions. One tool for RFIs, a spreadsheet for cost forecasting, a separate app for timecard logging. Even when […]
How Leveraging Field Data Accelerates Public Sector Pay Apps & Invoice Processing
As the complexities of municipal projects increase, the inefficient legacy systems they rely on cannot provide the transparency, visibility or real-time data needed. This poses ungainly financial risk in the form of stalled payments. To address this failure, managers must employ digital solutions that accelerate and standardize the process. This allows them to course-correct toward […]
How GCs Can Achieve Better Accountability with Financial Analysis Software
Virtually every general contractor (GC) financially plans for a project before it gets underway. The trouble isn’t necessarily budgeting — it’s monitoring that budget from groundbreak on. Every project has a multitude of moving parts, all while different people report different information at different times. A GC might not really know how the build shook out […]
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