Preventing Cost Overruns: 9 Critical Project Controls (Renovations) — Vancouver

  • t + Forecast‑to‑Complete — A one‑page snapshot of spend vs budget vs committed, with a 4‑week cash forecast.
  • Change‑Order Gate — No work proceeds without a signed CO when cost/time impact > threshold (e.g., $1,000).
  • Allowance Ledger — Track allowances (appliances, tile) in/out with decisions and variance to date.
  • Scope Freeze Dates — Lock design packages on a calendar to stop late churn; exceptions require sponsor sign‑off.

  • Procurement Plan for Long‑Leads — Identify lead times (cabinetry, glass, HVAC) and order to meet need‑by dates.
  • 10–15% Contingency — Sized to risk register; protect against discoveries and commodity volatility.
  • RFI Log with SLAs — Questions logged with due dates and responsible parties; unblock trades quickly.
  • Owner Decision Calendar — Pre‑book standing decisions (finishes, fixtures) to avoid idle time.
  • Quality Gates — QA checklists at rough‑in, pre‑close, and pre‑paint to catch rework early.

 

One Response

Leave a Reply

Your email address will not be published. Required fields are marked *