Construction Cost Tracker

Initial Setup:

• Input Project Details: Start by entering basic project information, such as the project name, start date, and key client details, into the Summary Sheet.

• Enter Contractor’s Quote: Populate the Cost/Works Breakdown sheet with the details from the contractor’s quote, including all tasks and associated costs.

• Set Retention Rates and Payment Schedule: In the Payment Schedule sheet, set the retention rates and enter any advanced payments or initial payment stages.

Initial setup takes about 30 minutes to an hour, depending on the complexity of the project.

Monthly Updates:

• Site Visits and Work Progress: After each monthly site visit, update the percentage of work completed in the Cost/Works Breakdown sheet. The template automatically calculates the value of completed work and updates the totals.

• Manage Variations and Provisional Sums: As the project progresses, update the Variations and Provisional/Prime Cost sheets to reflect any changes in scope or finalized costs.

• Payment Processing: Align contractor payment applications with the tracker, ensuring that payments are accurate and reflect the actual work done. The template automatically adjusts for retention and any advanced payments.

Monthly updates take about 15 to 30 minutes, significantly less than manual calculations

Time-Saving Benefits

• Reduces Administrative Work: The template automates complex calculations, such as work percentages, payment schedules, and cost adjustments, cutting down on the time spent on financial admin.

• Streamlines Payment Processes: By aligning the contractor’s payment applications with your updates, the template makes it faster and easier to process payments, reducing delays.

• Improves Accuracy: Automation reduces the risk of errors in calculations, saving time that would otherwise be spent double-checking numbers.

• Centralizes Information: All project financial data is kept in one place, making it easy to access and manage, which saves time searching for information across multiple documents or systems.

Overall Time Savings

Using the Construction Cost Tracker can save you several hours each month, particularly during the critical phases of financial management.

The initial setup is quick, and the ongoing updates require minimal effort thanks to the automation. This efficiency not only saves time but also allows you to focus more on the creative and client-facing aspects of your work, ultimately delivering a better service with less stress.

By using this tool, architects and interior designers can expect to cut down the time spent on financial management by up to 50%, while also improving accuracy and project outcomes.

This purchase comes with a link to a Written and Video Help Guide for your purchase.

This Construction Cost Tracker template is provided as a tool to assist with the financial management of construction projects. While we have made every effort to ensure that the template is accurate and functional, it is provided on an "as-is" basis without any warranties or guarantees of any kind.

By using this template, you acknowledge and agree to the following:

• No Professional Advice: This template is intended to provide general information and is not intended to replace professional financial, legal, or project management advice. Users should consult with appropriate professionals for advice specific to their situation.

• User Responsibility: The accuracy and effectiveness of this template depend on the correct and diligent input of data by the user. The user is solely responsible for the accuracy of the data entered and the outcomes derived from using this template.

• No Liability: We accept no liability for any losses or damages, including but not limited to financial loss, project delays, or other issues that may arise from the use or misuse of this template. The user assumes all risks associated with the use of this template.

• No Guarantees: We do not guarantee that the template will meet all user requirements or that it will be error-free. Users are advised to carefully review the template and its calculations before making any project decisions based on it.

• Modifications: Users may modify the template to suit their specific needs, but we do not provide support or take responsibility for any issues that may arise from such modifications.

• Updates: This template may be updated or revised from time to time. It is the user's responsibility to ensure they are using the most current version.

By downloading or using this template, you agree to these terms and conditions. If you do not agree with these terms, please do not use this template.

Due to the digital nature of our products, we are unable to offer refunds or exchanges. We kindly ask that you carefully review the product descriptions and reach out to us with any questions before making your purchase. We appreciate your understanding in this matter.

Before you purchase, please refer carefully to the product descriptions. 

If you have any burning questions, visit our FAQ or please email us at hello@architecturetemplates.co.uk.