Creating an Effective Budget for Job Order Contracting (JOC)
In the construction industry, creating an effective project budget and timeframe is critical to the success of a project. Our core focus at FMG Construction is commercial Job Order Contracting (JOC). Because JOC contracts are awarded with a fixed term and/or maximum dollar value, whichever occurs first, it’s important to ensure the success of projects in-progress as well as those various jobs in the future. We recognize that having a well-planned budget and timeframe as a collective is a big contributing factor in JOC. Below we’ve outlined special tips to creating an effective budget and timeline for your next set up projects in JOC.
Gather all relevant information - It is critical to acquire all relevant project information before beginning to create your budget and timeline. This includes details on permits, building supplies, labor prices, and the project timeframe.
Estimate the costs - Once you have obtained all of the relevant information, you must estimate the cost of each item. Consider any unexpected costs that may develop during the course of the project.
Prioritize tasks - After you've calculated the prices, it's time to prioritize your jobs. This will assist you in determining which chores are the most critical and should be finished first.
Develop a timeline - Create a timeline for accomplishing each activity after you've prioritized them. Include milestones in your timeline so that progress can be easily tracked.
Monitor progress - Once the budget and timeframe have been established, it is critical to monitor progress throughout the project. This can assist keep things on pace within budget. Learn more about our capabilities in Job Order Contracting here.
Upcoming Construction Project?
FMG Construction is ready to help you develop the optimum project budget and timeframe for your project. With our experience in JOC and commercial construction, we can help guarantee that your project is completed on time and according to budget. Get in touch with us right away for more information about our services.
