Cost-Plus Building Contracts

What is a cost-plus building contract? A cost-plus building contract entails the project owner covering all construction expenses, including direct and indirect costs, and paying an additional profit margin to the contractor. This profit margin is usually determined...

Cost Plan vs Cost Estimates

Understanding Cost Estimates What is Cost Estimating? Cost estimating is crucial in the early stages of a construction project, where detailed design plans and specifications are not yet defined. Serving as a cost benchmark, cost estimates provide a comprehensive...

Cost Control in Construction

What is Cost Control in Construction? Cost Control in Construction involves managing and monitoring expenses, including materials, labor, and overhead costs, to ensure projects remain within the initial budget. This practice is essential for keeping projects on track...