SandycroftOpen Book Projects – Putting You in Control of Costs
An alternative to negotiated tendering is to work with Sandycroft Projects using our own open book method. We have delivered this on a number of projects over recent years and it works well for all parties. Essentially, we agree with the client a set percentage for profit and overheads and deliver the schemes on an open book basis whereby all our costs incurred during construction are shared with the client on a monthly basis. From the outset we will agree a target price for the project with our client and this target will be adjusted on a monthly basis based on our ongoing and projected costs. This way the client is not surprised by the ultimate final account and, if the project is running under the initial budget, this may free up spend on work elements later in the project. For instance if the groundworks were completed well under budget, this could allow the Client to procure a superior kitchen than originally budgeted, whilst still remaining within overall project budget.
We have found this route to be extremely fast as we can start works without full detailed designs, especially on internal finishes, firming up these costs as and when details become available from the client.