Avoid These 6 Common Forecasting Mistakes In Construction

Forecasting in construction is more than just crunching numbers—it's about predicting the future of a project with as much accuracy as possible. For quantity surveyors, the stakes are high, as any mistakes in forecasting can lead to budget overruns, cashflow issues, and even project failure. In this video, we’re going to cover six critical forecasting mistakes that quantity surveyors need to avoid to ensure their projects stay on track and within budget.

0:00 Introduction
0:27 Mistake 1: Misjudging the Programme Timeline
0:58 Mistake 2: Ignoring the Impact of Design Changes
1:30 Mistake 3: Relying on Incomplete or Outdated Data
2:02 Mistake 4: Not reflecting Payment Terms
2:34 Mistake 5: Overlooking the Impact of Delays and Prolongation Costs
3:10 Mistake 6: Failing to Account for Inflation in Long-Term Projects
4:02 Conclusion

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