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      Budget only assessments overview

      In this article

      What is a budget only assessment?

      A budget only assessment in Chalkstring is a more streamlined approach to managing your projects. Rather than requiring you to enter your full estimate details, budget only assessments allow you to manage the onsite elements of your projects by using predefined budgets. This feature is designed to help users take projects onsite quickly, especially when full project details or estimates are not yet finalised.

      If you choose not to going through the traditional estimating process in Chalkstring, where every material and labour cost is detailed, budget only assessments let you allocate a total budget across various categories such as materials, labour, contingencies, etc. This is particularly useful in scenarios where a project might be very small, where speed is crucial, or where a project scope is still evolving.

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      Why use budget only assessments?

      Budget only assessments are ideal for the following scenarios:

      • Fast-Track projects: When a project needs to commence onsite quickly, and there's no time to complete detailed estimating. Budget only assessments allow you to set up budgets and start work immediately.

      • Preliminary project phases: In situations where a project's full scope isn't defined, but work needs to begin based on preliminary budgets. This approach allows flexibility as more details become available.

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      Key Benefits and Considerations

      Key Benefits:

      • Efficiency: Streamlines the process, enabling you to start projects faster.
      • Adaptability: Offers flexibility to adjust budgets as project details evolve.
      • Ease of Use: Simplifies the budgeting process, making it easier for teams to manage initial project phases.

      Considerations:

      • Reduced Tracking: Budget only assessments do not offer the detailed cost tracking of traditional estimates. They do not provide the same level of cost management precision which could impact financial oversight.
      • Potential for Overruns: Without detailed estimates, there’s a higher risk of budget overruns if not monitored closely.
      • Reduced Tracking: Lacks the detailed tracking and reporting available with full estimates.