Whether it’s a private ambition to build a dream home or a large scale commercial build, everyone wants to keep their construction costs to a minimum. For bigger, more complex builds, an established data-management company like Ivolve can provide technology solutions for production, assets and safety management for the construction process, thereby saving both time and money. Here are five other tips on how to save your precious money during a construction project.

1 - Think Pre-fab

Regardless of the project size, the use of pre-fabricated parts is an excellent way to save time and money. By having components assembled off-site and then transported to the actual construction location, it’s possible to save large amounts of money. This is because it’s often more costly to ship raw materials into a site and then pay skilled tradespersons to assemble or construct the required finished product. The idea works well from the small-scale, such as cupboards, bathroom units etc., right up to large-scale pieces such as entire walls. Another bonus about using pre-fabricated materials is that, because they are assembled off-site, there’s greater control over production and work won’t be delayed by poor weather conditions, which is often the case with on-site construction.

2 - Buy Bulk Early in the Project

Often a project’s budget can be blown open by the steady increase of material costs as the job progresses. For example, cement that costs $30 per ton at the start of a project can balloon to $35 or $40 during the project’s life-cycle. By ordering and paying for the bulk of your materials when the project commences – and when prices are lower – you’ll have access to the cement, timber or whatever as needed. Suppliers often have an early payment discount so there’s even more opportunity to save money, and by paying early, you also establish a great relationship with your suppliers.

3 - Manage Smarter

If you’re not on top of your job, then your job will be on top of you. A successful project needs good management and without detailed planning and appropriate supervision, things are going to go belly up pretty quickly. It’s not just the large milestones of a project that need to be managed; it’s the small tasks too. The little jobs are the often the ones that get out of hand and implode your project’s time-line, so it’s vital to be across everything. The use of project management and/or production management software can assist with this.

4- Identify Issues

Even with good management, a project can still throw up unexpected problems and it’s how unforeseen issues are dealt with that defines a manager or project supervisor. Make sure that everyone is communicating and if there’s an issue, make sure it’s raised and the right people are notified.

5 - Use Available Technologies

The internet, mobile phone applications, software and wireless technologies have all converged to make our lives easier so use it - or if you’re not sure how, hire someone that can use it for your benefit.

Do you have any cost-reducing tips of your own when it comes to construction projects? How do you save those dollars? Comment below to share your knowledge.

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