Recognize risks at an early stage and prevent surprises in the construction project
Rising construction prices, volatile markets and a challenging regulatory environment pose a key question for investors and project managers: How reliable are cost and schedule assumptions? And where are the risks before they become expensive? The cost pressure in construction is not just a gut feeling: the Destatis construction price indices continue to show price increases in building construction in 2025. This means that many investors and banks are once again asking a simple but crucial question: How secure is our project really – and what might we not yet see?
In the end, there are three goals in a project that cannot be argued away: Costs, deadlines and quality. As soon as one of these factors fails, there is a risk of immediate economic consequences. Delays mean loss of rent or postponed commissioning. Changes in quality requirements drive up construction costs and can make additional financing necessary. And above all, there are building law risks: If conditions are not met or approvals are delayed – or, in the worst case, not granted at all – not only the schedule but also the return on investment as a whole is at risk.
Making risks visible at an early stage
This is precisely where professional Real Estate Controlling (ICL) comes in: as an independent control body that makes risks visible at an early stage and communicates them transparently without intervening in project execution itself. The aim is not to monitor project teams, but to provide investors with an objective picture of the situation: Is the money being used for its intended purpose? Is the planning reliable? Are the cost and schedule estimates plausible? And: What risks are emerging before they become expensive?
The greatest leverage lies at the beginning of every Project. The planning phase has the greatest influence. The further a project progresses, the more expensive corrections become and the greater the follow-up costs. Experienced real estate controllers can assess whether a project has been set up properly based on the existing scheduling and cost tracking. If this is not the case, recommendations for action are made that provide guidance to investors without having to intervene operationally. A good ICL is deliberately set up in such a way that project participants do not have to perceive it as a disruptive fire – on the contrary: objective reports and clear documentation ultimately help everyone because discussions are based less on opinions and more on facts.
Checking the plausibility of progress and payments
In the implementation phase, controlling then becomes concrete and tangible: through regular analyses of costs, deadlines, quality and risks – and through site inspections with target/actual comparisons. Construction progress is assessed independently and compared with the invoicing status of the companies carrying out the work. Irregularities are documented and recorded in the report, with non-binding recommendations. It is precisely here that the independence of the controlling body is the key value: investors receive a transparent, unbiased view of the project status and can make decisions on a reliable basis.
Remain capable of acting in exceptional cases
And finally, ICL has another function that is often underestimated: Back-up for extreme cases. Projects can go awry for a variety of reasons. Then monitoring and reporting are no longer enough; active controlling services become necessary. If the controlling body has experience in Project Controlling, it can take over at short notice if necessary, without long training periods and without loss of information. For investors, this is nothing more than an additional level of security: the project is monitored, understood and capable of acting in an emergency.
For 2026, one thing applies above all: anyone who finances or is responsible for projects does not need additional “reporting for reporting’s sake”, but an independent body that recognizes risks early on, communicates them in a comprehensible manner and is able to act immediately in exceptional cases. This is exactly what professional Real Estate Controlling is – and precisely why it is not a luxury in a demanding environment, but risk discipline.
Contact to the authors
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