The COVID-19 pandemic has impacted construction projects around the world, causing many to be significantly delayed and over budget. Developers are searching for strategies to address the dilemma, with many turning to third-party program management companies like HPM that offer the industry expertise required to create efficient timelines and budgets. We serve as the owner’s advocate in all aspects of the project, applying a holistic approach that includes determining a feasible schedule and implementing effective cost controls.
Many owners have determined that the program management model is the most efficient way to manage a capital building campaign because they are given a detailed assessment of budgetary items and any potential variables from general contractors and the other project partners from the beginning. While others focus solely on the project, we focus on what is most important to our clients at every step of the way. We can quickly evaluate and accommodate the owner’s needs. Plus, we break down the language barriers that exist between the owner’s industry and the construction industry by facilitating constructive communication and developing a plan that sets clear goals and benchmarks toward a final objective before a hammer hits the first nail.
Many general contractors see preconstruction specialists as only estimators, but the current construction environment requires a long list of services to address the owner’s concerns. These include design team structure, selection, and management, bid packaging strategy, systems analysis, cost analysis, estimating, constructability reviews, value engineering and master scheduling. It’s more important now than perhaps ever before for program managers to have access to specialists with the expertise to find cost savings. We recently expanded our preconstruction services division by hiring experts in areas such as HVAC, plumbing and fire protection, as well as electrical, communications and security, increasing efficiency by offering this invaluable resource in house. HPM’s preconstruction team has saved our clients millions over the years and, in most cases, the cost of our services is at least a 100% return on investment.
TECHNOLOGY FOR ACCURATE PRICING
HPM has access to innovative pricing technologies that allow us to create more accurate and efficient budgets. We incorporate data that might not be top-of-mind for general contractors or architects. For example, we use databases that provide historical pricing data on labor rates and materials for projects across the country. This provides us with insight into various pressure points that can affect individual markets. This technology allows us to create realistic budgets throughout the design phase that are less likely to face cost overruns.