The planner, with a worked project
The full sheet is below, with the formulas calculated. The comment column is doing more work than it looks — it is the record of why the variance exists.
| Head | Budget (Rs) | Committed (Rs) | Paid to date (Rs) | Balance to pay (Rs) | Variance vs budget (Rs) | Variance % | Comment |
|---|---|---|---|---|---|---|---|
| Design and drawings | 90000 | 85000 | 85000 | 0 | 5000 | -5.6 | Fixed fee, closed |
| Civil and demolition | 150000 | 204000 | 140000 | 64000 | -54000 | 36.0 | Extra wall found to be structural; rerouted |
| Electrical | 140000 | 148000 | 100000 | 48000 | -8000 | 5.7 | Nine extra points added at first fix |
| Plumbing and waterproofing | 160000 | 167000 | 167000 | 0 | -7000 | 4.4 | Ponding test passed, paid in full |
| False ceiling | 55000 | 52500 | 30000 | 22500 | 2500 | -4.5 | Under budget, plain design chosen |
| Flooring and tiling | 130000 | 118000 | 118000 | 0 | 12000 | -9.2 | Batch discount on vitrified tile |
| Painting | 110000 | 112000 | 60000 | 52000 | -2000 | 1.8 | Two extra coats on the west wall |
| Modular kitchen | 380000 | 348000 | 200000 | 148000 | 32000 | -8.4 | Laminate instead of acrylic on wall units |
| Kitchen hardware | 50000 | 52000 | 52000 | 0 | -2000 | 4.0 | Tandem drawers upgraded |
| Countertop | 25000 | 21000 | 21000 | 0 | 4000 | -16.0 | Quartz, 20 mm |
| Wardrobes | 230000 | 225000 | 120000 | 105000 | 5000 | -2.2 | Sliding in master, hinged in bedroom 2 |
| Loose joinery | 170000 | 162000 | 90000 | 72000 | 8000 | -4.7 | TV, crockery, study, shoe unit |
| Bathroom fittings | 120000 | 141000 | 141000 | 0 | -21000 | 17.5 | CP brand upgraded by the client |
| Appliances | 180000 | 174000 | 174000 | 0 | 6000 | -3.3 | Hob, chimney, oven, dishwasher |
| Loose furniture and soft goods | 250000 | 118000 | 60000 | 58000 | 132000 | -52.8 | Sofa and beds ordered; curtains pending |
| Society, deposits and debris | 45000 | 52000 | 52000 | 0 | -7000 | 15.6 | Deposit refundable at closeout |
| Contingency | 120000 | 0 | 0 | 0 | 120000 | -100.0 | Hold until snag closure |
Balance, variance and variance percentage are live formulas. GST is applied at 18 per cent across budget, committed and paid.
How to keep it honest
- Enter the commitment on the day you sign, not on the day you pay. That is the entire value of the sheet.
- Never revise the budget column to match the spend. Revising the target to hit it is how projects overrun invisibly.
- Write the reason in the comment column every time a variance appears. In three months you will not remember.
- Move money out of contingency explicitly, with a note, rather than letting it drain.
Three things it reveals early
- A civil head running 36 per cent over in week four, which is recoverable, rather than in week twelve, which is not.
- Loose furniture uncommitted at 47 per cent of its budget three weeks before move-in — the classic late scramble.
- Contingency untouched but already spoken for, which is the difference between a buffer and an illusion.
Set the starting numbers with the cost estimate format and read hidden costs in interior projects.
Frequently asked questions
Why track committed rather than paid?+
Because paid tells you history and committed tells you the future. A project can be 30 per cent paid and 95 per cent committed, at which point the final cost is already decided. Tracking only payments means you discover an overrun when it is too late to change anything.
What variance is acceptable?+
Plus or minus 5 per cent on a head, and under 8 per cent on the total, on a well-specified new-flat project. Renovations run wider because of what is found behind walls. A head running more than 20 per cent over needs a conversation that week, not at the next milestone.
Should loose furniture be in the same sheet?+
Yes, as its own head. It is typically 15 to 25 per cent of what people actually spend and it is almost always the head that gets squeezed at the end. Having it visible from week one stops the sofa budget quietly funding the kitchen upgrade.
How much contingency should sit in the sheet?+
Seven to twelve per cent of works for a new flat, twelve to fifteen for a renovation. Keep it as a head with a zero committed value at the start. Every release from it should have a dated comment explaining what it paid for.
What are the most common overruns?+
Civil work discovered after demolition, electrical points added at first fix, bathroom fittings upgraded by the client, and site extension costs from delays. Three of those four are client decisions, which is worth knowing before blaming the contractor.