Cost Value Reconciliation (CVR) Template

Cost-value reconciliation (CVR) is conducted 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.

Read more about CVRs here Get the template here

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.

Customers testimonials

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

"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."

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

"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."

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."

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."

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

"While discussing Planyard benefits he says that there is nothing more important to management than a real-time overview of what's happening in the business, and that's exactly what Planyard provides."