Most people have completed some kind of construction project in their lives. But, there’s a big difference between a simple home-improvement project and managing the construction or renovation of a commercial or residential property.
If you’re a property owner, you may be tempted to try to manage your property’s construction on your own. How hard can it be?
Depending on the scope of your project — more difficult than you may expect.
That’s why construction management services are so important. These kinds of programs exist to leave your construction project in the hands of experienced professionals, ensuring that your goals and needs are met on time, on budget and according to plan — without any undue stress and worry on your part.
Before you decide to hire a construction management professional, you should fully understand that basics of construction management. Understanding the necessity of construction management and the fundamentals of construction project management will help you make your renovation or construction project a reality. We’ve provided the basic information for starting your research below.
In the meantime, if you ever have any questions about the scope of construction project management, don’t hesitate to reach out to our team of experts today.
What are the Basic Construction Management Services You Should Expect?
Generally speaking, the basics of construction management center on organizing the construction or renovation process from start to finish. The activities in a construction project are those required to obtain the property owner’s or tenant’s goals.
However, like with many real estate services, the exact services you can expect from a construction management professional will depend upon what that professional offers. Some professionals will do the bare minimum, while others (like CTG Real Estate Services) will go above and beyond to handle every step of your construction or renovation project.
Look for these construction management activities from a full-service construction management provider:
- Renovation planning, including cost estimating and value engineering
- Designing a space to meet tenant’s or building owner’s needs and desires
- Commissioning necessary contractors and subcontractors
- Coordinating and scheduling third-party vendors
- Inspecting construction work throughout the process for quality assurance
- Ensuring responsibility risk management
- Achieving the owner’s or tenant’s business objectives
- Closing out the construction process once the renovation is complete
- And more
Some providers, like CTG Real Estate, will even offer additional services that extend beyond the timeline of your construction or renovation project. These services can help you plan for your property’s future and ensure all new equipment and appliances are running smoothly when the project is complete.
What is the Necessity of Construction Management in Real Estate?
Often, property owners and managers ask us, “Why do I need a construction manager, especially if my project is small?”
Ultimately, the decision of whether to use construction management services will always be up to you. But, many property managers and owners have found the benefits of the construction management approach to be well worth the added expense.
First things first: Managing a massive renovation or construction project is a huge undertaking. If you don’t have the knowledge required to complete construction management procedures properly, you will likely find your project falling behind schedule, going over budget and putting your entire space at risk. Modern buildings and their systems are increasingly complex, and only an experienced construction project manager can make sure that the steps taken during your renovation will preserve those systems — not complicate them further.
Then, there’s the obvious fact that most property managers and owners do not have the time or resources to devote to planning every stage of their construction project. They are in need of construction management to do that for them. When a construction manager is able to put all of their focus and attention on one project, it will be much more successful than if it were handled by a manager with a great deal of additional responsibilities.
Hiring construction management services also:
- Allows for a higher level of transparency with budget estimates and explanations from start to finish, aided by the immediacy of technology updates
- Provides a measure of comfort and assurance to building occupants, facilities directors and property managers
- Ensures all parties are working in tandem toward the same goals and with the same oversight
The necessity of construction management is hard to ignore — so, what are you waiting for?
CTG Real Estate Services’ Construction Management Approach
As you prepare to hire construction management services, keep CTG Real Estate Services in mind. Our team of experienced professionals can offer more than 20 years of experience in the whole process of developing commercial and residential real estate. Construction management procedures are certainly in our wheelhouse.
You may be curious about our company’s construction project management approach. When you work with CTG Real Estate Services, the scope of our construction project management will include:
- Creating and sending out bid requests for contractors
- Creating RFPs for potential general construction contractors
- Finalizing contracts for the professional of your choice
- Managing the build-out process, including:
- Choosing vendors for furniture, equipment and other necessary aspects
- Advising on services and equipment for future capital success
- If desired, post-construction steps, such as:
- And more
CTG Real Estate Services is here to serve you and your goals throughout your construction process. Every one of your construction management activities will be handled with professionalism and transparency, and we will ensure that you and your leadership team are included on every important decision during this process. With CTG Real Estate Services, you are more than just a client — you are a partner through every step of your real estate development journey.
Want to learn more about our construction management approach or start your real estate construction project today? Schedule a consult with our team now.