Cost value reconciliation (CVR) template

Cost-value reconciliation (CVR) is carried out to monitor and measure expenditures against budgets on construction projects.

They provide insight into the status and profitability of the projects while they are in progress. This allows construction companies to make critical financial decisions and reduce risk.

An alternative would be to make this analysis at the end of the project. However, it can be very risky for cash flow reasons if left to the end of the project.

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CVR jobs broken down into smaller deliverables

Work can be structured, with the project cost codes format helping to break it down into smaller deliverables (e.g., foundations and installations, support structures, facades, etc.).

Planyard recommends following the chronological order of the jobs. This can be described as structuring the costs based on activities on the site, as seen in the example below. Such a breakdown enables management to follow project profitability in phases, so that when you are already in the middle of the project, you’ll know whether or not you managed to create profit in the first phases of work, such as creating a foundation, etc.

The example works breakdown structure for buildings such as office buildings, blocks, warehouses, etc.

Budget managed from an estimate, from job costing to project income

Additionally, it’s smart to list the budget with the cost paid by the customer to enable job profitability tracking on an article level.

Cost codes and budget

Customers testimonials

See how Planyard helps businesses like yours succeed - read their stories in our blog.

"Planyard's integration with Xero has streamlined our project financials, providing clear insights and saving us valuable time. It's easy to use and keeps all commitments organized for seamless financial tracking."

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Sharon Brown, Financial Controller
Sharon Brown Financial Controller  ·  Empower Renewables  ·  Dublin, Ireland

"Planyard is basically a live CVR and saves time by making Excel unnecessary. Once a project’s set up, I can rely on Planyard to stay organized without spreadsheets."

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Claire Hill, Quantity Surveyor
Claire Hill Quantity Surveyor  ·  Brown & Bancroft Interiors  ·  Bolton, United Kingdom

"If there’s some problem with the budget, it just tells you what you need to fix and you’ll be fine. It really just kind of thinks a step ahead for you."

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Jordan Cohen, Project Director & Partner
Jordan Cohen Project Director & Partner  ·  TITN Development  ·  Florida, United States

"Planyard saves us 3-4 days per project by simplifying financial tracking and cutting out double data entry. It’s user-friendly and lets us focus on our main tasks."

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Jason Escobar, Project Manager
Jason Escobar Project Manager  ·  The Keane Group  ·  Queensland, Australia

"Planyard is exactly what I’m after as a business owner: a good-value system that keeps everything in one place, saves me money and makes sure I’m not losing any money on projects. As a businessman, that’s a no-brainer."

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Lee Covington, Owner
Lee Covington Owner  ·  E&N Group Ltd  ·  London, United Kingdom

"I’m confident that we can manage multiple projects effectively. We’re currently running three fairly large ones, and the system makes it very clear and easy to manage all of them at once."

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Graham Eastwood, Office Manager
Graham Eastwood Office Manager  ·  Karringtons Ltd  ·  Kent, United Kingdom

"I chose Planyard because it stood out as the most straightforward and intuitive option on the market. I really wanted a tool that would simplify our existing processes and make everything more efficient, rather than switching to a system that was far too complicated for us to use on a daily basis."

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Grant Collins, Quantity Surveyor
Grant Collins Quantity Surveyor  ·  Skyler Contracting  ·  Kent, United Kingdom

"Planyard has completely replaced my CVR process. Cost Value Reconciliation is essentially about tracking your budget against your actual spend to see exactly what remains, and that functionality is the absolute essence of the central core of Planyard."

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Ian Holford, Managing Director
Ian Holford Managing Director  ·  Higgihaus Developments  ·  Bristol, United Kingdom

"For me Planyard is essentially the go to software for SMBs. There are other software packages out there that are a large investment upfront with a significant monthly cost. These are all potential solutions once you get to a very large business but they are not a solution for SMBs."

Paul Howarth, Experienced FD/Consultant
Paul Howarth Experienced FD/Consultant  ·  Live Management Accounts

"Timewise, on a single project, I'd probably save 6 to 8 hours—essentially a full day every month. When it comes to processing monthly payments, it saves me a solid day, perhaps even a day and a half, just in sorting through the invoices. Saving a day and a half of my time means the system pays for itself time and time again."

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Paul Treweek, Quantity Surveyor & Estimator
Paul Treweek Quantity Surveyor & Estimator  ·  DPTQS Ltd  ·  Cornwall, United Kingdom

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