When most people think about construction, they likely picture a busy jobsite bustling with workers, heavy equipment and trucks delivering materials. But those in the business know that the success of most projects is often determined before a single boot hits the jobsite. That’s the power of preconstruction. Mastering it is essential to controlling costs and protecting your profit margin.

Preconstruction is the essential planning phase between winning the bid and starting work. It should cover everything from assessing project-specific variables to setting the budget to creating a schedule that coordinates everyone’s work smoothly. When done right, preconstruction minimizes surprises, prevents or reduces delays, and provides a roadmap that all project participants can follow to completion. As you may have experienced, this stage can make or break a job’s bottom line. Do it right and you’ll identify risks going in and, ideally, manage them before they turn into costly problems. You can also seize the opportunity to double-check your estimates, get familiar with the schedule and allocate all your resources (human and otherwise) for optimal results. Ignoring or failing at preconstruction raises the threat levels of budget overruns, wasted time and unhappy owners.

The good news is you don’t need to reinvent the wheel to improve your company’s distinctive preconstruction process. Assuming you’ve already been engaging in some pre-project planning, you can build on those practices. Here are four key measures to consider:

1. Develop a thorough project assessment procedure.

It should include specific steps for analyzing site conditions, researching weather forecasts, fulfilling permitting requirements, assembling the labor team, and projecting and addressing potential supply chain issues.

2. Check and recheck financials.

In a volatile cost environment, you can never assume the figures you started with will be accurate as the project progresses. As mentioned, a key part of preconstruction is reviewing your estimate against current market conditions. You may need to revise financials based on more realistic labor and materials costs. Involving subcontractors and suppliers early often leads to more reliable data and fewer surprises down the road.

3. Involve project owners.

Often, and perhaps understandably, owners want work to start as soon as possible after the contract is signed. To the extent possible, slow their roll and sell them on the importance of preconstruction. Many disputes and delays stem from the seeds of misunderstandings planted early on. Take the time and nurture the communication skills necessary to walk owners through budgeting, design approval, scope details and scheduling.

4. Invest in software (or at least checklists).

If you haven’t already done so, explore the feasibility of preconstruction software for your company. Multiple developers now offer platforms that automate the entire planning process, so it’s standardized and efficient. If you’re not ready for such a purchase, create checklists that your project teams can follow to ensure consistency.

For today’s small to midsize construction businesses, profit margins are typically too thin to leave anything to chance. Even modest improvements in preconstruction can translate into better budgets, more sensible schedules and fewer delays. In turn, you should see substantial cost savings and a stronger bottom line.