How do you compare multiple completed development projects?
A practical method for comparing completed residential development projects without forcing false benchmarks.
Direct answer
To compare completed development projects, define the comparison set first, normalize cost categories, use consistent square footage and unit definitions, separate hard costs from soft costs and financing, align dates, and compare the same metrics across every project. Do not average unlike projects just because the data is available.
Key formula or definition
- Comparison rule
- Comparable projects share enough product type, size, scope, geography, time period, and definitions to make the number useful.
Why it matters
Averages can hide the real answer when projects differ too much.
The goal is to find patterns a builder can act on, not produce a number for its own sake.
Example
Comparing three similar townhome projects may reveal recurring sitework overruns. Comparing a custom single-family home to a four-unit townhome project may not support the same conclusion.
The comparison should say what is comparable and what is not.
Illustrative numbers only. Not Bivvit benchmark data.
What changes the result
- Product type and unit count.
- Project size and square footage definition.
- Construction period and cost environment.
- Cost-code mapping and project scope.
How Bivvit handles it
Bivvit starts with a builder's own completed projects and labels confidence based on comparability.
Future broader observations will include sample size, geography, project type, time period, metric definition, exclusions, and update date.
Related questions
See what happened on your own project.
Send us the records from a completed project. Bivvit will organize the numbers and show what the records support.