How to Create a Construction Budget Sheet in Google Docs (SPREADSHEET)
Construction projects demand a great cash flow and to manage this flow effectively systematic planning is crucial. To hold vast details of services, products, costs and other construction essentials, choosing an appropriate file type is necessary. Google Sheets, here, can serve better with its various advanced features. As it is an online processor, it can be used in both Windows and Mac systems without any issue. Several departmental teams working in the same project can share their specific work expenses and costs in real-time using Sheets. This file simplifies sum and calculations and delivers results in seconds saving your time and effort. Choose this file type for making your budget plan following the given tips to complete it in some minutes.
Open the Spreadsheet
Type ‘sheets’ or ‘google sheets’ in your browser and click on the first result which would lead you to the main website. Or open your Google Drive account, click on the left sidebar, click ‘New’, choose ‘Google Sheets’ and then select ‘Blank Spreadsheet’.
Before you begin to tabulate things, you must equip yourself first with in-depth research and analysis regarding the construction project. Know the demands and specifics like determining the nature of that particular construction project you'll be conducting. Will it be for commercial or house building? Is it for a renovation or demolition? It's also recommendable to have a meeting with your project manager, the subcontractors, and the other teams.
Determine Expenditures and Start Categorizing
After you're comprehensively equipped with the demands of your particular construction project, you should now estimate the costs per such. For the items needed, you should determine how many of these are required. Once done, add the construction business, company, or contractor’s name, address, contact details. Following this gives a brief description of the project. You can adjust the size of the cells depending on the word/s or sentence/s you are filling in one cell by placing the cursor on the dividing line, clicking and dragging it to right or left. A construction project requires various types of chargeable service, products, etc. to mention them specifically, categorizing them is essential.
- First of all, define each column content with a specific title and put the construction timeline or schedule below that row.
- Put all sorts of expenses in the first column with main categories like services, electrical work, plumbing, building materials, etc. Put all the components or works that come under each in subcategories next to them. Also, add a brief description to each subcategory in the next column.
- Keep putting an estimated or market rate of each subcategorized object, product or service in their individual units. And calculate the total cost estimate at the end.
- Put the amount that the owner is willing to spend on the project at last. And now minus the estimated cost. Suppose if the total amount is in cell B88 and the given amount is placed in cell B91, use the formula (=B91-B88) and press ‘enter’ to get the result. It will give you an idea of how much you can save from the given amount or how vulnerable the project is to the deficit.
If you think the project budget would be better comprehensive with charts, select the budget, click the ‘insert’ button at the top and select the ‘chart’ option. It will open up a box on the right-hand side where you can resize and manage the chart placement effectively.
Backup with Contingency
If you want to ensure a real, feasible construction budgeting, backing up with contingency on your predicted construction estimating is the way for you to go. Since it can really be hard to meet with the exact costs from the market, adding a little more to your budget is the safest way. Contingency inclusion may vary per company department. Nevertheless, most managements have their contingency for 10% of each expenditure and it up to their estimate. On top of that, do not forget to include in your estimates the state taxes!
Check and Save
Once, you are done with budgeting review and recheck the data again for necessary rectification. Use the two arrows on the top left for Undo '' and Redo '' any action. Edit the document name by Double-clicking the “untitled document’ box at the top left corner, give the document a title and press ‘Enter’. Then go to ‘File’ and click on ‘Download’ to save the budget in the file format you require.