What does VDB mean in CONSTRUCTION

VDB stands for 'Variations, Daywork Basis', and is a system of measuring the quantity of work done within a contractual project which involves variations or daywork. It provides a means of tracking the progress and costs associated with changes to an existing contract. It allows for accurate calculation of the final cost of a project in relation to all variations made during its duration.

VDB works by setting out the estimated costs associated with the different stages of a project at the start. As each variation is made throughout the process, it records each change in detail and assigns new costings accordingly. This allows for more accurate budgeting and forecasting as well as allowing for easy identification of where savings could be made when necessary.

VDB offers many advantages such as improved accuracy in budgeting and forecasting, increased control over project costs due to detailed tracking of variations, easier identification of potential saving opportunities throughout the process, greater transparency between clients and contractors regarding costings and other financial information related to the project.

VDB differs from traditional methods in that it provides a comprehensive view into all aspects of a project's costings including any unexpected changes or unforeseen circumstances that may arise during its duration. The use of this system also gives both clients and contractors greater visibility into budgets which makes negotiations much easier during changes and day-to-day management simpler due to its tracking capabilities.

When utilizing VDB there must be available some form documentation such as contracts between parties involved, financial records from previous projects, quotations on likely costs should variations be made at each stage etc.. On top of this it is important to have regular reviews or meetings to ensure everyone involved has up-to-date information about changes being made or cost implications resulting from such alterations.