Construction cost overruns are one of the most common — and most avoidable — risks in property development. In our experience, projects that stay on budget usually share a few habits: a realistic cost plan set before design is finalised, disciplined change control so that design changes are costed before they are approved, regular cost reporting so surprises are caught early rather than at completion, contingency that is sized to the project's actual risk profile rather than a generic percentage, and an independent quantity surveyor tracking cost throughout — not only at the start and end of the project.
Cost control is not a single event at the start of a project; it is an ongoing discipline that needs to run alongside design and construction from inception to final account.