Every construction project owner wants to get the highest possible quality structure at the least possible cost. Positioning a construction project like that, you may be tempted to wonder whether you really need owner representative services. Can’t another party on the project perform those duties for you? Well, no. Even though all parties involved benefit from project success, they all have their interests and bottom lines to protect. Only the owner and the owner representative will look after the owner’s best interests.
If you are unsure you need an owner representative, ask yourself these questions:
- Do you have the construction-related knowledge and experience to handle project challenges and foresee them?
- Do you have the time to tend to all the details on various layers of the project?
- Do you have the data and experience to choose the best project delivery method and to make dependable budget estimates?
- Are you confident you can communicate with contractors and other experts so that you make sure quality standards and compliance are met?
- Do you know all the procedures involved in construction projects (e.g. closing out)?
If you answer just one of these questions negatively, you may need owner representative services. Read on to find out what benefits an Owner’s Rep brings to the table.
Smooth communication among teams
Construction projects bring together architects, contractors, legal teams, and accountants. Someone has to be in charge of ensuring everyone is in the loop. Will that be you, since you’re the owner? Bear in mind that delays in communication slow down the project. At least one person on the team has to keep in mind the big picture.
Increased owner’s capacity to manage the project
Project owners typically have a full-time job or some other commitments which reduce the amount of time available to them to manage their construction project. Experienced and astute owner representatives amplify the owner’s capacity to manage their construction project without draining their energy and consuming their family time.
Accurate record-keeping
Keeping records and important documents is something that an owner representative can help with. Organizing and managing documents and project management software isn’t usually fun, but it’s critical to ensure the project is up to snuff and in compliance.
Mediating between the owner and construction team
Even when the owner is willing to commit to regular communication with the construction team working on project, this may be difficult to convey the message and cause confusion and exasperation for the team members. An Owner’s Rep is someone who knows the processes and procedures (i.e. submittals, change orders requests, etc.) that occur in a construction project and they can act as owner’s mediators and translators. That way, the owner is always in the loop about what’s been done, what’s in progress, and what is yet to be tackled.
Connections & team selection handling
Construction professionals who provide owner representative services tend to have an extensive background in construction. They come with a network of industry connections that they can provide to owners when a need arises.
In addition to this, an Owner’s Rep can handle the administrative side of hiring new contractors & consultants needed for the project. They can manage Requests for Proposals and the selection process (interviews, negotiations, etc.).
Managing the budget and schedule
Depending on the project delivery method, an Owner’s Rep can be in charge of creating and managing the master budget and master schedule. These two items include details about the critical path and deliverables from all the involved parties. This aspect of the project requires meticulous attention to detail and keeping in mind a crystal-clear vision of the “big picture” that we have already mentioned above.
Controlling construction costs
Owner representative services do cost money, but they could bring you an amazing return on investment. By reviewing bids, submittals, and change orders, an experienced professional can spot and help you avoid scenarios of escalating costs. If you don’t possess the knowledge and experience in the field of construction and if you don’t have time to devote yourself all the way to your construction project, the assistance brought in by an owner’s representative are invaluable. Ensuring the project’s compliance with standards and regulations and reducing your builder’s risk brings owners peace of mind and lower costs overall.
VERTEX is here when you need expert owner representative services
Our Owner’s Representation/Owner’s Project Management and Program Management services have assisted many municipalities, developers, and public authorities in the properly administrated construction of building projects such as office buildings, hotels, schools, universities, fire stations, police stations, libraries, and town halls. We differentiate ourselves because our experts specialize in construction, engineering, environmental, and architectural services so we can add value to all phases of real estate development.
To learn more about VERTEX’s Owner’s Representation services or to speak with a Construction Expert, call 888.298.5162 or submit an inquiry.
This article was originally published by Xpera Group which is now part of The Vertex Companies, LLC.