Target Value Design Versus Risk Reward

Lean and sustainable construction is vital in today’s market.

Within our team’s approach to all projects, inherent risk is measured. To best align a streamlined approach for value, collaborative relationships are sought to meet the project delivery method. Within the delivery assignment, opportunity exists to propose risk-reward.

Project value and profit are key for all successful projects.

Owners, developers, engineers, and contractors alike form a well-balanced team for their achievement. Two main factors initiate opportunity to shape value sustainably– understanding the project construction, and the methodologies proposed for bidding work. For our team, shaping value inclusively involves:

  1. Aligning the objectives of the entire team, all parties must be allowed to build value, develop profit, and secure risk to meet the owner’s goals.
  2. Assessing market versus allowable costs for project feasibility.
  3. Defining the “at risk” scope and fixed costs for their assignment.
  4. Involving the right people and the right time to intersect and streamline responsible parties for a lean approach. Decision making capabilities should be assigned to the team ahead of construction.
  5. Assigning and sharing risk with responsible parties.
  6. Sharing the project management inclusively amongst team members with assigned risk, not just architects and contractors.
  7. Hosting transparent quality control and assurance, especially with productivity and financial metrics.  By sharing manpower curves, productivity rates, schedule, lessons learned, etc., team members can align more efficiently with the project objectives.

Do you develop targets for a designed value? Or streamline work toward lean and sustainable constructability? Follow @FoundTestGroup and see how #FTGBuilds can motivate project value. Reduce risk, build strength amongst your collaborate and utilize clear metrics for transparency while building confidence within your team.

Risk v Reward
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WBE

Foundation Test Group (FTG) is a certified Women-Owned (WBE) engineering and testing company networked to support design and construction projects for a diverse group of Engineers, Architects and Contractors as well as multiple state and local governments. Our firm seeks new relationships with teaming partners to provide state of the art support in a strong, but niche market.

Foundation Test Group., Inc.
info@foundationtestgroup.com
11408 Cronridge Drive, Suite K
Owings Mills, MD 21117
Phone: 410-517-0715 Fax: 410-517-0716