Costs

Design Development

– Constant budget review throughout the DD process.

 – Consecutive progression of budget accuracy based on level of design Document completion.

– Each budget reviewed with client and approval provided prior to progressing design to the next level.

 – Review allows for value engineering, team insight, trade input and managing client expectations. 

– Helps to mitigate cost escalation due to design creep

costs1

Procurment

– Use of pre-qualified trade contractors that we know can complete quality work and have the resources to commit to and meet schedule.

 – Open book.  Client can see tender results and bid analysis and recommendations for subcontract awards. 

– No risk of unknowns, markups  which can occur with design / bid / build model.

– Often trade contractors, who will be bidding on the work, can participate in value engineering suggestions.

– Award recommendations based on ability to meet schedule as well as pricing.  Once we have a list of prequalified bidders there is less risk with accepting lowest price based on a thorough bid analysis.

Project Execution

Maintaining schedule and avoiding delays helps to ensure costs remain on track. Construction Management provides for monthly CM reporting which includes executive cost summaries as well as detailed cost reporting.

 Orignal control budget is reviewed with revised budget, acutal costs to date and forecasted cost to complete.  Any cost overages are explained. Surplus budget is re-allocated to contingency.The budgets are reviewed and revised every month based on actual costs, tender results and any project changes issued to date.  All budget numbers are compared to the original control budget established for the project

Changes

We would love to see a project with no changes. The fact is that most projects will encounter  changes along the design and execution path.  Changes  can occur for a number of reasons including:

– Scope gap:  details missing from bid documents

– Unforeseen conditions:  Unknowns that could not have been included in an estimate

– Owner intitiated:  Requests from the client to add scope.

– Project delay:  caused by any or all of the above.

The way changes are dealt with and managed can impact the success of project delivery .

TRiNiTi includes a process for documenting, recording and tracking project changes.  Cost and schedule impact are constantly reviewed to eliminate or minimze risk associated with project changes.