Welcome To:
To teach Project Managers how to manage project budgets proactively — not reactively.
By the end of this session, PMs will understand:
How to track expenses through their Digital Manual
How to identify overruns before they happen
How to protect profit through documentation and communication
How to connect field operations with financial clarity
“Every decision on-site has a cost — even if it’s just time.”
A successful PM doesn’t just keep work moving; they keep the numbers in check.Budget tracking isn’t just for accountants — it’s your real-time report card on efficiency, planning, and communication.
Your Digital Manual includes a Budget & Cost Tracking tab that connects to all major financial elements:
Original contract value
Change orders (pending + approved)
Purchase orders
Labor tracking
Material costs
Subcontractor invoices
Contingency and profit margins
The goal is to keep your budget map visible and current — not hidden in spreadsheets no one updates.
Open a past project (or demo one).Ask yourself:
Where did we lose the most money?
Could I have seen it earlier if I had better tracking habits?Write your answer under Cost Awareness Notes.
PMs aren’t accountants — but they are financial protectors.Your job is to:
Verify field reality matches the budget assumptions.
Flag cost impacts early (weather, design changes, delays).
Track purchase orders and delivery quantities.
Document every change that affects contract value.
Keep leadership informed with short, factual updates.
You control the inputs — the office team manages the math.
In your manual’s “Cost Tracker,” log the following for every trade:
Estimated cost (from budget or bid)
Actual cost (invoice or PO)
Variance (+/-)
Reason for variance (material change, rework, missed scope, etc.)
Review your current trade budgets.Find one where cost is trending higher than expected.Ask yourself: Is it material, labor, or time causing it?Note it in your “Variance Log.”
Understanding why is how you stop it from repeating.
Change orders are where profits vanish — or grow.
Best practices:
Document before you act. If the scope changes, pause and confirm in writing.
Use your manual’s Change Log. Record who requested it, date, estimated cost, and client approval status.
Track T&M work daily. Have subs sign off on time-and-material sheets on-site.
A signed change order today prevents a payment fight months later.
Share an example where extra work happened before approval.What could have been done differently to protect the budget?Have each PM write a short note titled: “My Next Change Order Policy.”
Your daily logs aren’t just for accountability — they’re your labor productivity tracker.By comparing planned hours vs actual hours, you learn where teams lose time.
Use your “Labor Snapshot” section to record:
Crew size each day
Weather impact
Tasks completed
Overtime or idle time
When you see patterns — you can fix them.
The secret of great cost control: forecast early, adjust fast.
Your manual’s “Forecast to Complete” (FTC) section helps you project:
Current cost-to-date
Remaining scope
Predicted over/under budget
If a trade is 60% complete and 80% spent → flag it now.That’s your signal to act — not at close-out.
Budgets fail in silence.Share numbers with your team — not just your boss.
Every Friday, update your:
Weekly Cost Summary
Forecast Report
Pending Change Log
Then send a short summary email or update in GoHighLevel:
“Here’s where we stand, here’s what’s trending, and here’s what I’m doing to protect our margin.”
Transparency builds trust — and trust builds control.
Open your Budget & Cost Tracking tab.
Enter all current trade estimates and compare to actuals.
Record one pending change order and status.
Log your first “Forecast to Complete” snapshot.
Write your three-part commitment statement:
“I will track ___ daily, report ___ weekly, and review ___ monthly.”
“What does financial leadership look like for a Project Manager — and how can I apply it starting today?”
Write this in your Cost Awareness section.
Thank you for completing this Session!
Home Building Master Class | The Contractor Checklist
The best PMs build profit — not just projects.Your job isn’t just to build structures; it’s to protect value.Numbers tell a story — your manual makes sure it’s the right one.
“Measure money like you measure material — precisely and daily.”
Video Explanation
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