PLAIN-ENGLISH PROJECT GUIDES
How do we stop the budget getting away from us once construction starts?
Keep a live forecast and make the cost of proposed changes visible before decisions are made.
Start with a baseline people understand
Record the agreed scope, contract sum, exclusions and remaining client costs. Separate the amount already committed from the forecast still to come. A payment made today is not the same as the expected final cost.
Give changes a simple route
Describe the change, request its cost and time effect, identify the person authorised to decide and keep a written record. Where urgent action is necessary, follow the agreed contract procedure and document it promptly. Do not assume a conversation has settled a price.
Update the forecast, not just the invoice list
Track agreed changes, pending changes, remaining allowances and identified risks. Review these regularly with the appropriate project team. A report that only adds up paid invoices may miss commitments that have not yet been billed.
Respond while there are still choices
If the forecast rises, identify the cause and practical options early. An uncommitted finish can sometimes be changed; completed work is more expensive to reverse. Contract administration, valuation and payment decisions need appropriately appointed competent advisers.
Your practical checklist
- Agree the baseline and authority to approve.
- Log proposed and agreed changes separately.
- Review expected final cost regularly.
- Act before optional work is committed.
Useful independent guidance
RICS: home extensions and improvements · Planning Portal: finance and budget
General guidance, not a quotation or project-specific legal, design, valuation or financial advice. Services and professional responsibilities are agreed separately.