Cost Management
Cost certainty starts with informed planning and continues throughout the entire project lifecycle. Our Cost Management services combine cost planning, procurement, value engineering and ongoing cost control to keep construction budgets transparent and under control. By monitoring market conditions, project changes and financial commitments, we help clients manage risks, optimize costs and make confident investment decisions.
Martin Tkáč
Sector Leader
Sustainability & Commercial Developers
Jakub Pavelka
Sector Leader
Commercial Developers
Zdeněk Trejbal
Executive Director
Cost Management
Cost Management is principally focused on construction works prices and general monitoring of the estate market, which helps a client to define the final product more appropriately and ensure its feasibility. Close cooperation with Project Manager to set up the project budget and implement Value Management.
Our Cost Management services include:
Cost Planning
Preparation of the project Cost Plans based on individual stages of project documentation. The structure and detail of the Cost Plans increase depending on the complexity and detail of the submitted documentation (project documentation, specifications and standards). It also includes discussion and review of the Cost Plan with the client.
Procurement &Tendering
Organization and evaluation of procurement processes for construction contractors. Tenders may be conducted either on behalf of the project investor (e.g., tender for the general contractor or partial tenders for direct subcontractors) or in an Open Book format, in collaboration with the investor and the general contractor, involving tendering of specific work packages for individual parts of the project.
Value Engineering
Cost optimization of the building design, both in terms of specifications (materials and standards used) and proposed construction methods and technologies. Evaluation and pricing of technical solutions aimed at cost savings, schedule reduction, or improved return on planned financial investments.
Change Orders Management
Management and oversight of the change process through formal Change Orders. Recording, review, and negotiation of individual change valuations with the contractor and the project investor.
Cost Control
Review and approval of the contractor’s interim payment applications based on the executed work volumes and works contractual price, including the issuance of Certificates for interim and final payments. Tracking of total construction costs, including approved changes, progress of completed works, and potential claims for price reductions (e.g., penalties, retentions) as part of the project’s final account settlement.
Bank Monitoring
Preparation of Bank Monitoring Reports during the execution of the construction works (initial report, monthly progress reports, and final report) for the purpose of drawing down funds from a construction loan facility.
