The major problem during the construction project is running out of budget and leaving the work uncompleted. A cost overrun could occur because of an inaccurate estimate, wrong site analysis or inefficient building design.
There could be more reasons to cost overruns, but we will focus on the common problems that appear in most of the construction projects. When your project objectives are not achieved within the estimated budget, the projects remain unaccomplished with all of the money at stake.
There are few factors that you can’t address on your own, such as an increase in the price of material by the Government. The reasons that you can smartly address at your end includes inadequate project planning, lack of resource, delay in supply of materials and delay in starting the project.
Since the rise of construction trend in Emirates, The engineering consultants in UAE have smartly addressed these problems. The three major vulnerable areas are discussed as below:
A wrong budget estimate in the construction project is one of the major factors of a cost overrun. The smart engineering consultants make a flexible estimate that can absorb the price hike margins of materials. So that if the price of some specific material increases, you could counter it. Covering other aspects that are beyond your control is the way to go for a smooth project completion. A proper forecast about the price hikes of different material will reduce the risk of running short of the amount. Another smart way is to make a counter plan for costly material by approaching the suppliers that provide material at a lower cost.
Feasibility of Design
A good consultant engineer will evaluate the design at the first phase after taking over the project. The flaws in the design will result in more costly solutions and it will take extra time. These constructions will have to be fixed at an additional cost at the later stage, which will waste time and effort.
Poor Planning
A detailed and well-thought planning involves assigning each phase of the project a sequence and a time duration. Each of the project tasks should be analyzed while keeping in mind all the aspects that could possibly cause the delay. A delay in a single task can prolong the project construction period that will result in a cost overrun. Good engineering companies in UAE take extra measures to avoid these problems and make a counter strategy by using slack and free times in between the tasks.
Conclusion
All of the above-mentioned factors need professional treatment to be avoided. Not seeking professional advice from engineering consultants can only save your one-time cost but it can hurt your cause and may cost you double than your estimate. The accurate estimate, feasible design, and smart planning can save us our time and money in the long run.
