How to build an office move budget
Establishing a budget for an office move can be tricky for those who have never been through the process before.
How much does it cost?
What will we get for our money?
What do we need to include for?
What professional fees will we require and how are they built up?
How do contractors price the work?
What furniture is required and how much does it cost?
How much contingency should we allow?
Inevitably many of these costs won’t be of first-hand knowledge to those within the organisation and gaining early budget advice will allow the business to realise its expectations and will become a key factor to the success of the project.
No one wants to get their budget wrong – with the budget set too high and the project may be shelved, set the budget too low and risk having to ask for more money which can be an embarrassing position.
Having a cost adviser who can develop a realistic budget for your project, and who is charged with getting the project delivered within that budget is critical. Having that knowledgeable adviser as part of your team will not only assist you in developing a realistic budget, but they will be able to advise where money can be best spent or even saved.
Making suitable allowances for your property team, commercial agents, legal advisers, surveyors and stamp duty are some of the typical early costs you will need to include. Fees for your professional consultancy team will need to be budgeted for before you consider the budget for the works needed to the space.
The main topic of discussion on any project is how much will the fit out and furnishing cost as inevitably this will be the largest portion of your budget spend. This is a question that depends on the quality of the fit out and the furniture you install as well as other considerations on how you plan the space.
The best way to build a budget is to work with a knowledgeable cost consultant who understands your projects needs and who can set benchmark levels for the project and advise on the budget you should be looking to set.
If you want to discuss how Quantile Project Management can assist with your project, then please do get in contract via our website links.