Costing & Budgeting – Key Responsibilities
Cost Estimation
Prepare cost estimates for projects.
Estimate the expected cost of construction/work before execution.
Conduct feasibility studies from a cost perspective.
Cost Planning
Prepare the overall project cost plan.
Track costs from the initial project stage through design and construction.
Present the final cost plan to stakeholders.
Quantity Surveying
Handle pre-contract and post-contract quantity surveying.
Check and validate quantities related to project work.
Take responsibility for cost checks and project valuations.
BOQ & Quantity Take-Off

Prepare/finalize

BOQ – Bill of Quantities

.
Perform
Quantity Take-Off (QTO)

.
Ensure quantities are ready for the tendering process.
Budget Control
Prepare and control the overall project budget.
Prepare budgets from the early

BD/TDD stage → Concept → Schematic → GFC stage

.
Monitor whether the project is within the approved budget.
Cost-to-Complete (CTC)

Prepare project-wise

Cost-to-Complete budgets

.
Review them quarterly.
Estimate how much additional money will be required to finish the project.




Cost Checking & Valuation

Regularly check project costs.
Carry out valuations on larger projects.
Ensure cost checks and valuations are accurate and completed on time.
Variation Order Management

Review

Variation Orders when project scope/quantity changes.
Assess the financial impact of changes to the original scope.
Rate Analysis
Analyse and validate rates quoted for construction activities/items.
Check whether the proposed rate is reasonable based on the underlying costs.
Claims Validation
Validate contractual claims submitted by contractors.
Check whether claims are justified as per the contract.
Cost Optimization
Monitor projects from a cost perspective.
Give inputs to the Design team to reduce/control project costs

.
Business Development Support
Provide cost inputs to the

BD team for prospective projects/deals.
Help evaluate the financial feasibility of potential prospects.
Cash-flow Support
Provide inputs to the Planning team to help monitor project cash outflows

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📌 Costing & Budgeting Mumbai (India)
🏢 The House of Abhinandan Lodha
📍 India