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Catch budget overruns on a job before they grow
Compare budget with actual and committed costs each week and get a plain summary of which packages are drifting and why.
When to use it
Every week, and before monthly cost reports
Step by step
Keep a simple cost tracker
In Excel or Google Sheets list each work package with budget, costs to date, orders placed but not yet invoiced, and your estimate to finish. Update it from invoices and orders each week.
Ask for a cost review
Copy the tracker into your AI assistant with this prompt.
Prompt to copyHere is the cost tracker for [project], [percentage]% through the programme. Columns: package, budget, cost to date, committed, estimate to complete. Please: 1) calculate forecast final cost and variance for each package and in total; 2) flag packages forecast to go over budget by more than [5]%, worst first; 3) for each flagged package, list likely reasons based on my notes [notes] and questions I should ask; 4) write a 5-line cost summary for the client or director. Show calculations in a table so I can check them.Check and investigate
Check the flagged lines against the actual invoices and orders, then speak to the subcontractors or suppliers involved.
Report early
Email the short summary to your director or client from Outlook, with the actions you're taking, rather than waiting for the month-end figures.
What you get
Forecast final cost: 1.284m against 1.250m budget (+2.7%). Flagged: Groundworks +11% (extra muck-away after poor ground), M&E +6% (copper price rise). Questions: Is the extra muck-away a claimable variation? Can we fix remaining copper prices now?
Tips
- Keep commercially sensitive figures in line with your company's AI policy; you can scale figures or remove the project name before pasting.