Tracking Construction Costs Doesn’t Have to Be Hard: Learn the Important Tips That Can Make It Easy

Tracking Construction Costs Doesn’t Have to Be Hard: Learn the Important Tips That Can Make It Easy

You have a lot to keep track of. As a construction manager, the minimum is likely your daily report, but there are many other reports you are likely asked to look at on a daily basis. When you are dealing with preparing for future claims, it can seem impossible to track all this data. The good news is that JDIO and our fund control software have you covered.

Keep a Correspondence File

It is important for you to have a central place for all correspondence as it relates to specific claims. You want to include letters and memos you get and send. This includes documents to and from the DOT as well as any subcontractors who are working on the project. Keeping a physical file is not secure and difficult in this day and age. We recommend a product like ECL Software.

Track All Meeting Minutes and Internal Memos

Anything that is said or written regarding the claim needs to be saved. This includes things like minutes from any type of meeting in which the claim is a topic of discussion. Remember to save all minutes – not just the minutes that relate to the claims specifically. Your goal in saving these items is to show the DOT and reps from the DOT that you tried to resolve everything.

Keep Track of Your Plans and Specifications

All plans and specifications should be kept. This includes things like amendments to plans, details about any specific part of the claim, any type of clarification that pertains to a specific part of the plan, options the owner has re: the plans and specifications.

Do Not Lose Sight of Records of Change and Work Orders

Any change order or work order that is submitted or requested needs to be kept. You will need to file it – either digitally or physically – with the part of the work that the claim is involved with. Remember always that the more information you have, the better. If you think a document might be necessary then it is better to keep ahold of it.

Get Evidence from the Job Site

You will likely have a number of pieces of evidence on the job site that are needed. Whether original schedules and updated schedules with the changes on them, or pictures of the job site, or any video taken – it can all be helpful. You want to show both the status of the work at various times and the situations that led to the issue.

When you work with ECL Software, you are working with a company that specializes in fund control and construction lending software. We have specifically created the information you need and we are ready to provide you for you. Call us now at 800-625-5972 and ask for a free demo.