Introduction
From planning and conceptual design through the end of construction, municipal construction projects may last for years.
Municipalities can take proactive steps to reduce the risk of cost overruns.
Not only does this lengthy process have the potential to tax your staff by adding onto their regular workload, but these improvement projects also present numerous opportunities to go over budget.
While cost and schedule overruns are typical of many construction projects, many of these overruns are the result of poor advanced planning that leads to the need for costly reactive solutions in the field.
The good news is that municipalities can take proactive steps to reduce the risk of cost overruns. In this guide, we outline five strategies that can help municipalities plan ahead and rein in construction project costs:
- By assessing and prioritizing projects based on need and community interest, municipalities can begin construction projects when it makes the most financial sense to do so.
- Once projects are prioritized, municipalities can effectively match their projects to grants and other funding opportunities to maximize their overall infrastructure budget.
- Through engineering practices that prioritize value and constructability, municipalities can reduce excessive spending and reduce the risk of expensive rework in the field.
- By addressing common construction delays early in the design process, municipalities can ensure that projects remain on schedule and within budget.
- Through partnerships with experienced construction professionals, municipalities can prevent overtaxing their staff members and avoid scheduling delays.
