Cost containment is one of the great mysteries of modern time found within the walls of corporations around the world. It is a mystery not because it is so illusive, but rather it is so illusive because we don’t really know what it is! Having to seek something while not knowing what it is can be a real challenge. It’s like playing “hide and seek” with the wind. You can never catch it, but evidence indicates it is always there.

According to Webster’s dictionary, cost is “the amount or equivalent paid or charged for something”. With construction related services it is reasonable to consider cost as paying what is reasonable and customary for a completed job. According to Webster’s, containment is “preventing the expansion of”. So the literal definition of cost containment for home modifications is, “preventing the expansion of the amount paid for home modifications.” Notice it did not say price reduction. Price reduction and cost containment coincide only when you’re paying an excessive amount for something and it needs to be brought into a reasonable range. It is of key importance that you have a written definition of cost containment that your company, your coworkers and contractors are aware of when working with home modifications.

Do you need some help defining your objectives with home modifications?