Construction Maeconomics Conference 2014

Risks in the costing and budgeting

Ing. Michal Strnad


Construction contracting belongs to those areas of business which are financially demanding and where changes in the operating phase abound. Construction budget needs to be a transparent and efficient means of communication between the contractor and the client. In order to minimize capital investment while achieving optimal operational cost alignment of costing software with Building Information Modelling is necessary. One of the most important drivers of a robust budget is the quality of entered data (the bill of quantities and unit prices). This will allow responding to all dynamics in prices, savings or budget overruns in a timely manner.


Building Information Modeling, costing software, the life cycle of buildings, Risks in construction.

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