Salt & Oak Development - Preconstruction Budget Builder

A construction budget is more than the construction contract. The Preconstruction Budget Builder gives owners, developers, and project leaders a guided Excel-based system for building a more complete preliminary total project budget before major commitments are made. The workbook includes 137 preloaded project cost items covering due diligence, professional services, permits and fees, site infrastructure, vertical construction, amenities, contractor costs, FF&E and technology, testing and closeout, insurance, financing, and other owner-side expenses that are often overlooked during early budgeting. Rather than requiring the user to already understand construction budgeting, the workbook walks them through the process step by step. Each cost can be reviewed for applicability, assigned an appropriate budgeting method, supported by an assumption or pricing source, and classified by pricing confidence. Automatic calculations then summarize base cost, escalation, contingency, total project cost, construction cost, cost per square foot or unit, target-budget variance, category totals, and unresolved budget items. The goal is not false precision. It is to create a budget that clearly shows what is known, what is estimated, what may be missing, and what still needs to be resolved.

Start on the 00 - Start Here tab and follow the guided seven-step budgeting process. Begin by entering the project information and any known project-level assumptions on 01 - Project Inputs. Next, use the 02 - Budget Builder to review each preloaded cost item. First determine whether the cost applies by selecting Yes, No, or TBD. For applicable costs, choose the budgeting method that best matches the information available: Lump Sum / Allowance for a known or estimated total amount, Quantity × Unit Cost for measurable costs, or % of Hard Costs for selected non-hard-cost items intentionally tied to direct construction cost. Document the Pricing Confidence and Source / Assumption for each cost so rough planning numbers can be distinguished from current quotes or contracted values. Use 03 - Budget Summary to review total project cost, construction cost, escalation and contingency, cost per square foot or unit, target-budget variance, category distribution, and unresolved budget information. If an earlier or approved budget exists, use 04 - Reconciliation to compare it against the current project budget and identify where costs have changed.