Five steps to ensuring variations don’t drain profitability of projects

Recording figures accurately and on a continuous basis will allow companies to respond to changes in project costs and profit margins efficiently, whilst observing contractors and noting down any erratic behaviour as it happens will provide time to find a replacement and negotiate new deals if necessary.

Other factors to take into consideration include being prepared for late costs and ensuring that any variations are notified, calculated and passed on to the client quickly to prevent the loss of profitability on a project.