Construction Cost Management
One of the more difficult tasks we encounter with cost segregation studies is determining and reconciling the total cost of the facility whose cost we are trying to distribute. Thus, this is where our construction cost management services come into play.
All too often we are faced with missing invoices, incomplete or erroneous cost descriptions, arithmetically inaccurate totals, or simply insufficient information. The problem appears to be caused by a variety of conditions:
- Inadequately trained personnel
- Unfamiliarity with the construction process
- Non-standard recording methods
- Overworked accounting clerks
- Lack of cost estimating principles
At Lindon Engineering Services, we have encountered these situations on numerous projects. Hence, we have devised a service that addresses these deficiencies and proposes solutions. In essence, we will collect all costs and maintain them in a summary. This summary is consistent with the engineered sixteen-division format used in our cost segregation studies. The Cost Summary will then be maintained throughout the construction phase and is available for use in the subsequent cost segregation study. The intent of a construction cost management program is to reduce the cost of administrative tasks, provide accurate and organized construction cost data and also shorten the time to complete post-construction analysis.