Keeping Records of Running Project Cost

            COVID -19 has changed the way business run. There where things implemented because of this attack which have not and will not return to what was once normal until they are forced by supply and demand to do so. Many industries have not recovered from this and other have disappeared completely or nearly so. There are new pricing standards and new quality control specs in place and since we accepted them under COVID the industry wants to keep these more advantageous norms in place to benefit from the profits. There are strong possibility that soon America will say China is guilty of germ and chemical warfare tactics against her enemies. First COVID and now fentanyl laced with horse medicines which prevent recoveries.

When the material quality cheapens then the labor cost increases to achieve the same standard of quality workmanship. A poorer quality of material also increases the number of materials that must be purchased to achieve your previous standard or workmanship. These substandard material or amount of product which is now standard also makes it necessary to increase the learning curve so that you can achieve the goal more effectively. When items use to come in fifty-pound boxes and now come in 28 lbs. tubs for the same cost or often the price is higher than one must know how many tubs are needed. Because purchasing an overabundance is not cost effective.

To be able to best adapt to these changes in the standards one needs to have a running record of the cost to complete the task of the projects. Not every project will demand the same tasks but to know the cost of these task is extremely helpful in figuring the cost of a project in the ever-evolving industry we’re in. Once you know your cost for the task of your project you can easily calculate the square footage of linear foot cost.

Then we have new regulations and laws which come into effect which change the cost of projects. It seems that as soon as the laws demand the use of a certain item then supply and demand take over and the cost of the item rises.

The only constant I know of in my industry is change. To understand how those changes are going to affect my bottom line I need to know the cost of the system I’m using. Once cost increases beyond a certain point then perhaps its time to revisit other methods of completing our projects.

Note: Images on this blog site are from a free source or taken by the author. No image or group of photos is intended to represent the people the author serves. The author does not care about Race (that is a politically correct term that he does not like because we are all of the same Race, the Human Race. He prefers the term ethnicity, color, religion, sex, gender, marital status, disability, genetic information, national origin, source of income, Veteran or military status, ancestry, citizenship, primary language or immigration status.) He is a service provider for all people. We will all rise together when we band together and help one another. Joseph Erwin is a Real Estate Broker, DRE # O2131799, and a CA general contractor # B 696662. He’s a member of the CRMLS and The East Valley Association of Realtors located in the Inland Empire region of Southern California.