If you are starting a small construction project or are ready to break ground on an entirely new structure, creating an accurate budget if of the utmost importance. Before you put in the cornerstone, you need to have a definitive statement on the amount of money available to spend for the duration of the project and how these costs will be broken down into manageable items. One of the most critical items in any construction project is material costs, and in this column of the budget, the amount allocated for fasteners can make or break a balanced construction budget.
The budget process
A budget should take into account all resources that will be needed to achieve all tasks related to the project within the defined time period. It is not only a quantitative statement but requires qualitative management to ensure that the work performed is up to the standards that are promised. There are three stages to any effective budget: preparation, review, and approval. It is during this second phase when you can take a closer look at the quantity, quality, and price points of all materials that have been identified as crucial to the project. Before the budget is approved, ensure all fasteners that are needed – down to the last rivet, screw, and nail – are accounted for in the budget and that the brands selected meet both the project requirements and the budgetary reality.
How to balance your budget for fasteners
Fasteners can be easily overlooked in the grand scope of a construction budget, but they literally hold your project together. First, take the time to assess the quality of a small sample of the brands you intend to use. They should be able to withstand “torture testing” of the very worst conditions they should be expected to endure. If they pass muster, the costs of a project of similar scope should be reviewed in order to see historical costs associated with these materials at the level of quality you are intending. This may require a bit of imagination or filling in the blanks if you are planning something more ambitious that does not have a similarity to what you have budgeted in the past. Taking a close look at the small details before you approve purchases can ensure that projected costs and actual expenditures do not diverge too radically over time and upset your budgetary plans.
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