Soft costs
A non-construction-related cost that is essential to project planning and execution, such as design, permitting, and legal fees.
Soft costs are indirect expenses associated with a construction project, such as design fees, permits, and legal fees. They are crucial for comprehensive budgeting, financial planning, and project viability. Understanding and managing soft costs helps ensure that all project expenses are accounted for, supporting accurate cost estimation, resource allocation, and financial control, contributing to successful project delivery by aligning budgets with overall objectives and constraints.
Used in a sentence
Soft costs were factored into the overall project budget.
Synonyms/variation
Indirect Costs
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