Managing costs on a construction project is no small feat. Between fluctuating material prices, shifting labour availability, and inevitable site variations, staying on top of your construction budget requires more than a once-a-month check-in. While monthly cost reviews are a standard practice among larger construction firms, our experience with small to mid-sized clients suggests that more frequent reviews—fortnightly or even weekly—provide far greater financial clarity and control.
In a recent LinkedIn poll, we asked construction professionals: How often do you review your construction budget during a build?
The results were telling:
🔸 51% said monthly
🔸 22% said fortnightly
🔸 19% said weekly
🔸 8% admitted they were too busy to review it regularly
The results were telling:
🔸 51% said monthly
🔸 22% said fortnightly
🔸 19% said weekly
🔸 8% admitted they were too busy to review it regularly
While it’s encouraging that most respondents are engaging with their budgets at least monthly, there’s a missed opportunity here—because in construction, budget oversights don’t wait for month-end meetings.
Small Oversights, Big Consequences
Construction projects are fluid. Each day on-site presents opportunities for scope creep, subcontractor delays, material waste, or rework—all of which impact cost. When budgets are only reviewed monthly, these issues can go unnoticed until they’ve snowballed into major financial setbacks. Waiting 30 days to realise a subcontractor has overbilled or a procurement error went uncorrected is often far too late.
By contrast, weekly or fortnightly reviews allow teams to spot issues early and take corrective action before they escalate. From reallocating contingency funds to renegotiating supplier terms, the power of proactive cost management lies in timeliness.
Site Quantity Surveyors: The First Line of Cost Defence
While senior project managers and directors might only sit down monthly to review the financial health of a project, the site-based quantity surveyor should be tracking costs daily. This includes monitoring subcontractor output and valuations, verifying completed work against claims, recording variation orders, and keeping an eye on procurement costs.
Why daily? Because cost control isn’t just about reconciling figures—it’s about identifying discrepancies before they affect the bottom line. A subcontractor laying more concrete than allowed in the scope, or delivering subpar work that leads to rework, can quickly erode margins. When a QS is present on-site and vigilant, these issues can be addressed in real time.
The Case for More Frequent Reviews
Let’s break down what frequent reviews can actually prevent:
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Overbilling and inflated claims
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Delays in identifying cost overruns
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Scope changes that aren’t formally captured
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Procurement overspends due to late orders or incorrect specs
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Loss of profit due to compounding small issues
Ultimately, projects that adopt a culture of regular financial review—especially at the site level—are far more likely to finish on budget. Even a 15-minute daily check-in by the QS can make a significant difference when multiplied over weeks and months.
Making Frequent Reviews Work
You don’t need to build a new reporting system overnight. Start by:
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Standardising weekly reporting templates for site QSs to fill in (e.g., subcontractor claims, material deliveries, unapproved variations).
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Holding fortnightly budget syncs between site teams and office teams.
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Using digital cost tracking tools that sync real-time updates from the field.
Monthly reviews are useful for big-picture tracking, but they’re not enough to keep a build on budget. Frequent budget reviews—especially daily tracking by site QSs and weekly or fortnightly financial check-ins—empower project teams to make informed decisions, prevent losses, and maintain profitability.
As the old saying goes: what gets measured gets managed. In construction, the more often you measure your budget, the better you’ll manage your costs.