Estimating and controlling labour costs in construction

Labour cost blow outs are consistently identified as the primary reason for budget overruns in construction projects. Builders face unique challenges in accurately estimating and managing these costs due to the complex nature of construction work, productivity variability, and unexpected project hurdles. In this practical and in-depth two-hour training session presented by Xact Accounting, attendees will gain valuable insights and actionable strategies for accurately pricing and effectively managing labour costs, ensuring projects remain profitable and on budget.

Key learning outcomes:

• Understand the detailed components of a fully loaded labour rate and confidently incorporate these into project estimates.
• Identify common pitfalls and inaccuracies in estimating the time taken to complete various stages in a project and learn proven techniques for improving accuracy and reducing project risks.
• Implement essential project controls and management practices designed to prevent labour cost overruns - across in-house team and sub-contractors
• Learn to effectively manage and document variations to protect profitability and minimise disputes.
• Participants will leave equipped with practical skills and resources to enhance their estimating accuracy, reduce labour cost risks, and improve overall project profitability.

Suitable for builders, construction site managers, estimators and trade contractors.