Now more than ever, delivering projects on budget is a challenge. Material shortages, long lead times, and fluctuating and escalating costs that began in 2020 still plague the construction industry today, requiring new tools and methods for managing project budgets. Cynthia Labelle and Blair Tennant detail a team-based cost target design model to set up projects for success and avoid budget shortfalls, scope reduction, and other cost-related surprises. They provide best practices and lessons learned for implementation, and illustrate methods for linking cost target design with effective preconstruction processes. They demonstrate how this model unlocks procurement strategies for maximum competitiveness.