Why would I use a Cost Code in my Punch List or Checklist?

Construction cost codes are a standard set of values that represent common construction expenses, allowing companies to track, manage, report, and catalogue costs & spending throughout a project. By regularly assigning Cost Codes to the construction Punch Lists and Checklists in each of your ConstructionOnline Projects, your company can: 

• Analyze costs by specific categories, making it easier to identify trends, areas of high expenditure, or recurring issues to inform future decision-making and resource allocation
• Improve cost tracking and budget management, allowing you to track and manage the costs associated with addressing specific issues or deficiencies 
• Create historical records that can be valuable for benchmarking, comparing project performance, and making more informed decisions in the future 
• Strengthen your financial reporting, both internally for your project management processes and externally for stakeholders and clients 

Additionally, assigning Cost Codes system-wide ties different ConstructionOnline features together based on the type of work being completed—resulting in more organized construction cost data across all facets of your project management. 

Click here for more frequently asked questions (FAQs) regarding Cost Codes.