What does job costing mean in construction?
Short definition
Job costing is the process of tracking actual and projected costs against a specific construction project.
Longer explanation
It helps teams compare budget, commitments, invoices, labor, production, change orders, and forecasted cost to complete.
Example in context
“The project team reviewed the job costing during the construction phase.”
Common users
- Owners
- Architects
- Contractors
- Construction managers