Construction Project Budget Management for Real Estate Development

Investopedia defines development as the act of manipulating, building on, and/or designing and constructing new uses for real estate.  Those that engage in real estate development are called “developers.” Developers purchase land and either create or renovate the property, risking their resources and capital in the hopes of investment reward.

For private developers, real estate development is a long-term, entrepreneurial undertaking. The developer must believe that the newly designed and designated real estate will have sufficient value (and meet sufficient demand) to compensate for the time, labor and other resources devoted to the project.

Our clients in this vibrant space have had great success with budget4cast.  They are seeing increased efficiency and reduced chances for errors.  Plus, with budget4cast’s reporting features, they are able to offer their clients, real-time, concise, and accurate financial and status updates.  But, no need to take our word for it.  Listen to what one of our clients say, in their own words…

budget4cast is a one-of-a-kind software solution that allows simple and efficient, yet powerful and comprehensive management of project financials. It meets the needs of our development [construction] projects both small (<$5M) and large (>$100M) and it’s simplicity allows us to spend more time managing the project, and less time wasted on remedial data entry tasks. Software is meant to be increase efficiency, and budget4cast checks that box with flying colors. There is nothing else like it on the market!

Andrew E
VP, Project Management