What are NAHB cost codes?
NAHB cost codes are the defined list of codes that are used for tracking, managing, reporting on the amounts, quantities, budgets, profit, and other account information associated with the job. The cost codes have been defined by NAHB (National Association of Home Builders).
The goal of using cost codes is to streamline data management on a company-wide basis, making it reusable for all stakeholders including estimators, project managers, administration, accounting, and more.
You will find benefits from a standard structure in all stages of your project. Be it in the estimation phase when you want to see what these same jobs cost on a similar project. Or in the project management phase so that there is a more easily understandable structure to the project financials.
Benefits of using construction cost codes
Quick and easy way to identify and analyze how money is spent on the project.
Track and manage KPIs such as estimated cost, cost estimate, current costs, and more.
Ideal for companywide use
Using the same codes companywide makes it easy to track and analyze costs, errors, and forecasts for all stakeholders.
Visualize profit centers
End- to end- analysis for visualizing profit centers and problematic areas.
Gives structure and access for following the costs in real-time for setting more accurate and realistic estimates.
Let management have a clear overview and of the job and keep all the stakeholders engaged.
Cost codes are hierarchical and chronological
You can see that the jobs are broken down in terms of structure and in chronological order. NAHB has defined the cost codes well sot that the bigger sections of work contain smaller parts.
Because of this, you can easily see the progress and profitability of the project in stages. This means that you can already see how much profit some of the first works are going to give before the project has ended.
Where can you get a list of NAHB cost codes?
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