Instead of Excel, build your construction budget in ProjectManager. Set a budget at the creation of a project, estimate planned costs and enter actual costs during the execution phase. Even incorporate labor rates for your team, so you can monitor resource costs while construction happens. Use the Gantt chart, Sheet view and dashboards to track costs and make sure you deliver on budget. Get started with ProjectManager in minutes and start dynamically tracking your budget.<\/a><\/p>\n Using our free construction budget template will help general contractors estimate and manage construction costs<\/a>. This will help them in many ways. They can see if the project is viable in terms of completing as the property owner wants while still maintaining a healthy profit margin. The construction budget template is a spreadsheet that captures all the tasks and their related costs so the general contractor can forecast the cost of the project.<\/p>\n If you win the bid<\/a> and take on the project, our free construction budget template will help you identify priorities. This will help you deliver the project on time and as intended. Plus, you’ll save money and time because you\u2019ve planned and allocated costs and resources. You can use the construction budget template to compare what you\u2019re actually spending to what you budgeted to help keep the project on track financially.<\/p>\n Construction budget templates also help with cost estimation<\/a> if you\u2019re seeking funding for the project. When the project is being executed, the construction budget template will set expectations and parameters for the general contractor and subcontractors. The construction budget template will also inform other aspects of the project, such as design, as costs will dictate what you can do.<\/p>\n The construction budget template is used when a general contractor wants to anticipate the total cost of a given project. This means that the construction budget template is used in the bidding process as part of the package of construction documents<\/a> delivered to the property owner, who will then decide which general contractor will be awarded the project.<\/p>\n However, the construction budget template isn’t a one-time-use document. It\u2019ll be used throughout the life cycle of the project. The general contractor uses it to figure out their profit margin and then, through the execution of the project<\/a>, to ensure that the work isn’t costing more than it was determined to cost in the construction budget template.<\/p>\n By comparing your planned costs against the actual cost of the project, the general contractor can deliver the project on time and within budget. If the actual costs are over the budget, then the scope<\/a> or time will have to be adjusted accordingly to get the project back on track. Even after the project has been completed, the construction budget template can be archived and used as historical data to inform budgeting for future projects.<\/p>\n Our free construction budget template is ideal for anyone involved in a construction project. General contractors will use it with project estimators to develop an accurate forecast for the project budget<\/a>. This will then inform the bidding process as they look to land work and still make a profit.<\/p>\n But a construction budget template is for anyone, from a homeowner managing the construction process to a contractor who’s managing multiple residential projects. On larger jobs, the construction budget template will be distributed to subcontractors as well, so they understand the financial constraints they\u2019re on as they execute their tasks.<\/p>\n Of course, the stakeholders are going to be part of this process, too. The construction budget template will be submitted to them for approval. They’ll be the ones who sign off on the construction budget template or accept the general contractor\u2019s bid.<\/p>\n Whether you download the free construction budget template for Excel or use the template in ProjectManager<\/a>, you\u2019ll find a fully customizable tool to help you estimate the project costs and manage them throughout the life cycle of the project.<\/p>\n First, we\u2019ll look at how to\u00a0use the free construction budget template for Excel. Once you\u2019ve downloaded the template, you\u2019ll be able to add your logo and customize the spreadsheet however you want. Once you have it designed, follow these steps.<\/p>\n On the far left is a place for you to list the work breakdown structure<\/a> hierarchy as a number. The next column will be where you list all your project tasks as well as a place for you to list subtasks, which are slightly indented to distinguish them from regular tasks. There\u2019s also a column where you can list who is assigned to which task.<\/p>\n Next, there are the labor costs. This section is broken down into three categories: planned, actual hours and dollars per hour. First, in the planned hours column, list the duration of the task in hours. The next column will list the actual hours that the task took to complete. The final column is the labor rate, which is listed in dollars per hour.<\/p>\n There are then three columns for estimating material costs. The first will be the items, such as wood, nails, etc. Next are the units, which list the quantity of the material. Finally, list the dollar amount per unit. In another column, you\u2019ll find the cost of equipment.<\/p>\n There are other costs for the project that don\u2019t fall under the materials and equipment or labor categories. These will go in the next few columns, such as travel and fixed costs. There\u2019s also a column for any miscellaneous costs and you can add as many columns here as you need.<\/p>\n There\u2019s a budgeted column that adds up all the line items. The total for this column is your estimated budget. Next to this column is an actual cost column. Here, you\u2019ll put in the costs as they accrue.<\/p>\n The last column on the construction budget template is the balance. It’ll automatically tell you if you\u2019re over or under budget by color. This way you can monitor your budget and make the necessary adjustments to stay on budget.<\/p>\n The construction budget template is only one of over 100 free project management templates<\/a> for Excel and Word that you can download from our site. We have free templates for every phase of your project and for many industries. Here are a few for construction.<\/p>\n Another free template that can help you accurately forecast your project costs is our free construction estimate template for Excel. It breaks the entire project down into phases. In each of these sections, you can describe the work, the vendor or subcontractor responsible for it and the labor and materials costs.<\/p>\n A construction schedule must address project deliverables, resources, milestones, tasks, dependencies and more. When you use our in-app free construction schedule template you get all that and more, such as filtering for the critical path, budgeting, etc.<\/p>\n Before you can make the construction budget or schedule, you must win the bid. Our free construction proposal template for Word outlines everything you need to show you\u2019re right for the job. It runs the gamut from scope of work to cost and payment and more.<\/p>\n Some of our free templates open in our software with a free trial as does this one, our free construction budget template. Get a free trial and you can import your project from any Excel, CSV or even Microsoft Project file or build the project from scratch. Here\u2019s how.<\/p>\n Create a new project and open the Gantt chart.<\/a> On the left-hand side are columns. List all your tasks and subtasks here. Each task will have a start and end date. You can also add who\u2019s assigned to the tasks and describe it. If necessary, you can even attach files to the task.<\/p>\n Now that you have all your tasks and subtasks listed, for each, you\u2019ll want to list the resources that are necessary for completing them. That can be the team member who will execute the task, the materials they\u2019ll need, equipment, tools, etc. Then add the costs associated with the task.<\/p>\n Once you\u2019ve finished scheduling the project tasks and associated costs, set a baseline. This captures the project plan<\/a> and allows our software to compare your actual progress and costs compared to the planned progress and cost. You can view this in real time on our dashboards.<\/p>\n Try both the free downloadable construction budget template for Excel and our free construction template in ProjectManager and you’ll see the difference immediately. The Excel template is a static document; you have to input all the data and, if there are changes, you have to add them, too.<\/p>\n Plus, Excel spreadsheets are poor collaborative tools that will only slow you down. Unlike ProjectManager<\/a>, which is award-winning construction project management software that automatically updates in real time and is connected to other powerful features on which you, your subcontractors and vendors can all collaborate.<\/p>\n One way to deliver a construction project within budget is by carefully monitoring and managing your resources.<\/a> When you onboard your team, our software allows you to set their availability, such as PTO, vacation time and global holidays. This makes it faster and easier to assign them to tasks.<\/p>\n Then you can toggle over to the color-coded workload chart and see who is overallocated or underallocated. Managers can then balance their team\u2019s workload right from that chart to keep them working at capacity and staying productive.<\/p>\n Another thing to track is your labor costs. The workload chart<\/a> can help you monitor who is tasked with what, but our secure timesheets give you even more transparency into your team\u2019s and subcontractor\u2019s work. While streamlining the payroll process, our timesheets also allow managers to view how much of the team member\u2019s tasks are completed. They can then see how much labor is costing and quickly respond to cost overruns before they become a danger to your construction budget.<\/p>\n Construction budgets are only one piece of the larger construction project management whole. If you\u2019re looking for more information on construction management, more free templates and how to make a construction plan and schedule, follow the links below.<\/p>\n![\"Construction](\"\/wp-content\/uploads\/2020\/09\/project-budget-in-app-template-screenshot.png\")
<\/a>Why Use a Construction Budget Template?<\/h2>\n
![\"ProjectManager's](\"\/wp-content\/uploads\/2024\/02\/construction-budget-for-excel-screenshot-1600x427.png\")
<\/a>When Should You Use This Construction Budget Template?<\/h2>\n
Who Is This Construction Budget Template For?<\/h2>\n
How to Use This Construction Budget Template for Excel<\/h2>\n
1. List Your Project Tasks<\/h3>\n
2. Estimate Labor Costs<\/h3>\n
3. Estimate Cost of Materials & Equipment<\/h3>\n
4. Estimate Other Types of Costs<\/h3>\n
5. Track Actual Project Costs as They Occur<\/h3>\n
6. Monitor if Your Project Is Over or Under Budget<\/h3>\n
More Free Construction Project Management Templates<\/h2>\n
Construction Estimate Template<\/a><\/strong><\/h3>\n
Construction Schedule Template<\/a><\/strong><\/h3>\n
Construction Proposal Template<\/a><\/strong><\/h3>\n
How to Make a Construction Budget With ProjectManager<\/h2>\n
1. List Project Tasks<\/h3>\n
2. Add Costs and Resources to Each Task<\/h3>\n
3. Track Your Project Budget With Real-Time Dashboards<\/h3>\n
![\"Track](\"\/wp-content\/uploads\/2023\/01\/Dashboard-IT-Light-2554x1372-1.png\")
\nHow ProjectManager Helps With Construction Project Management<\/h2>\n
Keep Resources Balanced<\/h3>\n
![\"Workload](\"\/wp-content\/uploads\/2023\/01\/Workload-Light-2554x1372-1-1600x860.png\")
<\/a>\nManage Labor Costs<\/h3>\n
![\"Timesheet](\"\/wp-content\/uploads\/2023\/01\/Timesheet-Light-2554x1372-1-1600x860.png\")
<\/a>\nRelated Construction Project Management Content<\/h3>\n
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