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PLANNING FOR A HEALTHY BOTTOM LINE

If you’re finding your projects are increasingly running over budget and off schedule, you’re in good company. According to KPMG, in the last three years less than a third of all construction jobs came within 10% of budget. A study by the McKinsey Global Institute found that large projects typically take up to 20% longer to finish than planned and can run as much as 80% over budget. “Megaprojects” fare even worse — 98% are delayed or over budget.

It’s easy to attribute overruns to lousy weather, picky clients or bad luck, the truth is much of the problem comes down to planning, or a lack thereof. Here’s how a renewed focus on project management — before, during and after the job — can help keep your projects on track and your bottom line healthy.

BEFORE YOU START

DURING THE JOB

AFTER THE WORK’S COMPLETE

Nothing ever goes exactly according to plan — especially in construction. But armed with a good planning process, you’ll be better prepared to deal with the unexpected and better able to hit your budget and schedule targets.