A successful project starts with the right budget. How many times have you experienced a project going over budget even before the construction started? Important items not being budgeted simply because the Quantity Surveyor (QS) did not know the business well enough and forgot to take in any SOE. Or because of a bad survey during the Due Diligence leaving out crucial items.
Putting together a budget starts with using reference figures based upon square meters and luxury standard adding the number F&B outlets and other Public areas. Based upon the performed Due Diligence and its Risk analyses, local circumstances and building difficulty parameters a Contingency figure (or %) is added. From here budgets for the designers are generated and internal approval procedures can start.
During the Design Phase the budget is fine tuned to more accurate figures based upon local prices as more details on the design are being set. At the end of the Design Phase a definite budget will be fixed to be used for the Tender Phase and the following contract negotiations with the contractor.
During the actual work the QS will need to follow the progress of the work to advise the client on the invoicing done by the Contractor and other suppliers.
C&R Hospitality Services has extensive knowledge on budgeting Hospitality projects as well as good partners for fine tuning budgets for projects outside The Netherlands. We also use clear reporting tools and procedures to inform the client constantly on budget issues being able to make the right management decisions in your project.