Description
Email: andy@freelancequantitysurveyor.co.uk
Cost Value Reconciliation (CVR) templates are vital for managing ongoing project costs and profit/loss.
CVR templates are another vital tool in the armory of the Quantity Surveyor. Alongside a professional and readable construction valuation template. Or a timely pay less notice. The CVR template assists the project Quantity Surveyor in protecting profit and managing cashflow.
Generally the Quantity Surveyor will produce a monthly cost report to the companies directors or senior management. This cost report will also be sent to the companies accounting department.
It is vital that all companies follow this procedure so they know at all times how much profit is projected on a project. Also it is vital to know how much a project is losing (if this is the case).
Calculating profit/loss in a timely manner means that the contractor can react to costs during the project and not after the project is complete. It is always too late after the project is complete to rectify losses unfortunately.
Cost Value Reconciliation Template Reporting
Cost reporting is now an integral part of the role for a Quantity Surveyor in all companies. Quantity Surveyor’s should know the profit/loss on their projects at all times.
The Cost Value Reconciliation templates we provide are fully editable and easy to use. It is essential that everyone in the company understands and can read what the cost value reconciliation template is telling them. A shorter reference to this is the CVR template. The abbreviated term is much more preferable in my opinion.
Trainee Quantity Surveyor’s should be taught how to compile CVR reports from the outset. Of course a trainee must be excellent with figures. Also to be able to interpret other complex financial reports. As a Quantity Surveyor everyday is a school day. Actually the Quantity Surveyor never stops learning.
Have you seen our other construction templates? Check them out.
