In Construction … What’s Value Engineering?

Value-Engineering

YOU MAY BE AWARE that budget overrun is a common problem for construction projects.

Value engineering is an effective process that assists in managing costs, throughout a project, to meet the budget requirements.

It analyses the requirements of a project, with the aim of satisfying your requirements, as the owner, in the most economical way — from capital outlay to life cycle cost. [Read more…]

How to Find the Right Builder

The-Correct-Builder

LIKE ALL THINGS, there is a “right” approach and there is a “wrong” approach to finding the perfect builder for your project.

Some developers, investors and building owners fall into the tempting trap of trying to cut costs — by bringing in builders who offer to work for much less, but who may not have the experience needed for that particular project.

These people hope that by reducing initial costs, they can boost their overall profits. Unfortunately this tends to backfire on them, more often than not. [Read more…]

Detect Hazardous Materials BEFORE Demolishing Begins

HazardousMaterial

HAZARDOUS MATERIALS are found in a range of locations, forms and types of building structures; plus they are not just limited to Commercial projects. Unfortunately, they are widely spread through residential and public properties as well.

The identification process is the first step for anyone wishing to undertake alterations, demolition or disturbance of materials — which could be potentially harmful to workers, or the general public. And then, you need to quantify the cost of rectification; and what effect that will have upon your intended project.

3 Key Questions to ask … [Read more…]

How to Manage Those Fearsome Project Variations

Variations
YOU THOUGHT you had negotiated a fixed-price contract for your planned building works, only to find yourself being progressively hit with expensive “Variations” as the construction phase progressed.

So, perhaps it is worth exploring how this comes about, in a little more detail.

What is a Variation? [Read more…]

Due Diligence: 5 Key Issues to Verify + Questions to Ask!

Due-Diligence
WHENEVER YOU embark upon a physical Due Diligence for any Commercial property, there are five key issues on which you should focus. And all of them need to be fully explored.

Depending on the size and type of the building, you may well require a more-detailed analysis. But for the time being, this will provide you with a basic checklist. [Read more…]

As a Developer or Investor … What Should You Expect from Your Project Manager?

Office-Refurb
EVERY CONSTRUCTION or refurbishment project is unique, in its specific requirements and challenges.

Accordingly, each project requires a broad range of skills and experience — which a professional project manager needs to be able to deliver.

So what is it you should be looking for, when appointing a Project Manager? [Read more…]

How to Complete a Building Project on Time & on Budget

ProjectManagement2
AS YOU DISCOVERED last week, carrying out a proper due diligence is vital for any significant Commercial property purchase.

And that’s part of our role … assessing the overall structure, along with the various building services — simply to ensure they are all in good order.

However as time goes by, you may well have the need to upgrade or extend your building … if only to meet the changing needs of your tenants.

Yet this is where many investors seem to get into trouble — by undertaking something well beyond the limits of their capabilities. [Read more…]

Proper Due Diligence is Vital

DueDiligence2

MANY PEOPLE will make the mistake of not carrying out a due diligence study BEFORE they acquire their Commercial properties.

But this can end up becoming a very expensive process — because you’ll can often miss out on the property, if someone else snaps it up, before you’re able complete your study.

Therefore, the secret lies in ensuring you negotiate a deal — where your due diligence occurs AFTER you have tied up the property, under a binding contract of sale.

Anyway, here are the 5 Key Elements you need to investigate … [Read more…]