Determining the cost
of a renovation
Most of our work involves bespoke design so it follows that no two projects are identical. Notwithstanding, it is still possible to apply known methodology to determine the cost. This is achieved by applying strong project management from the outset, and it begins with breaking the project down into a series of actions and applying percentages to the completion of those individual tasks. This method allows us to take into account any non-standard features such as specialist glazing, which will require an increased allocation.
The cold harsh reality is that we have to balance the budget.”— Michael Bloomberg
The next step is to input a client’s available budget. This allows us to immediately identify any deficiencies in the budget. It also means better and more informed decisions can be made in respect to alternative suppliers, reduction in scope, additional funding and so on. It is important to state that budgets also identify excesses, which may allow the client to increase specification and scope of the work to include additional elements, or alternatively remove the money from the budget.
Whilst deficiencies can be disappointing, the fact that they have been highlighted at an early stage allows contingencies to be put in place to recover the position. Our commitment to cost transparency allows us to work collaboratively with our clients, to agree upon a project that meets with their aspirations and their budget.
The most important point about the exercise is that the end cost has been identified. Thereby offering our clients the degree of cost certainty they require to proceed with the project.
The budget must drive the cost. Not the other way around. Simple.
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