When it comes to work in the field there can be a lot of confusion as all the moving parts come together. That’s why a construction audit is designed to keep your project focused and ensure that everyone is performing their task to contract. This way you can keep your schedule and stay under budget.
A construction audit can be requested by stock holders or government departments. Don’t be caught unprepared. Let us here at Bid to Built help you know what you need to look out for and prepare for a construction audit.
Here are three reasons construction audits can be a powerful asset to any project:
Helps With Cost Recovery
Construction costs can change over time as you progress through each phase of a project, and these changes can easily get out of hand. A construction audit can help keep track of these changes and negotiate who is responsible for what in the budget, helping ensure everyone is working in line with the contract.
Gives You A Handle On Internal Controls
Communication of information and assigned tasks is key in any project. A construction audit helps lay out who is in charge of what as well as ensures that all contract specifications and safety measures are being followed on the site. This keeps everyone on the same page and helps protect you from liability.
Provides Progress Checks
The worst thing that can happen on a project is falling behind schedule. During a construction audit, an auditor can physically check the site itself and speak to workers in order to see where the project is on the timeline. This way when making invoices, you will know exactly when a specific job is complete and payment is required. This will keep you, your investors, your clients and others all on the same page and completely aware of how a project is progressing.
To find out more about how Bid to Built can help your construction project be as successful as it can be, from sitework estimates to budgeting, takeoffs, expert witness representation and more, contact us at 1-888-615-6390. We are proud to serve all 50 states!