Successful project management of construction projects is largely dependant on the confident handling of construction costs and schedules. For contractors, the ability to reliably plan costs is an essential quality feature of a good architect, and hence one of the most important basics of project preparation. Cost estimation is also vital in preparing project budgets, and it particularly requires an efficient methodology that can immediately reveal possible planning-related cost overruns. Central key concepts such as cost variables or life-cycle costs, costing methods, and cost control methods form an essential repertoire for all practicing architects. Basics Budgeting explains cost planning processes during the planning and construction phase step-by-step and on a practical level, and describes in a clear and structured manner how to estimate and evaluate cost impacts and risks. Supported by practical tips, examples, and illustrations, the inexperienced planner learns the tools of the trade in order to enter the field of budget management informed and in step with actual practice.

Bert Bielefeld, architect, managing partner of bertbielefeld&partner in Dortmund, teaches at Siegen University.