Risk Management In Construction

Risk Management is one of the most important, but often overlooked, activities to ensure the successful completion of a construction project. Without proper risk management, the project’s schedule, budgeting, and quality is at stake. A proper risk management process considers:

Risk Identification

Risk identification is the most important piece of risk management. This phase is critical in order to manage and complete the project successfully. It involves identifying all possible risks as well as the conditions giving rise to these risks. The earlier the risks are identified, the earlier the plan can be adjusted to reduce the effects of the potential risks.

Risk Assessment/Analysis

Once the risks in a project have been identified, further analysis is done through assessing and estimating the possibility of risk occurrence as well as the potential impact of each risk factor. To do so, consultants use available information, experience, and best practices to determine the frequency of risk occurrence and its level of consequences.

Risk Responses

Risk responses determine what action will be taken to address risks. It includes actions taken to avoid, mitigate or transfer a risk or its consequences. A risk response is determined by proposing several alternatives to eliminate or mitigate an anticipated risk and assign an optimum alternative as a response. It identifies and develops risk response options and determines actions for treating the risk and reducing any threats to projects objectives.

Risk Control

After risks have been identified, assessed, and appropriate responses have been developed, those findings are implemented. The risk plans are put into action, ensuring that they are being considered, accounted for, and reacted to. Risk control enhances projects by reducing risks, and controlling deviations from the project plan.

Hire one of the best construction consulting services in Boston to manage your construction project risks, prepare for challenges before they occur, and enable you to retain control over your project.

Office Renovation Trends Coming Up For 2018

Office renovation trends seem to be ever changing. Currently, the latest office renovation trend focuses on transforming the office into a happier, more rewarding and healthier workspace for employees. Current trends to transform your space include:

Zone mixing

One of the latest trends in office interior renovations is the mixing of zones. Commercial contractors must remember the need for quiet spaces as well as collaborative spaces. Creating mixed zones, where there are quiet workspaces as well as welcoming collaborative spaces can appeal to employees and customers alike. For example, many Google offices, feature workstations, relaxing hammocks, and energetic conference rooms side by side.

The branded workplace

Another recent trend in office renovations is to strengthen a feel of community and belonging with company branding throughout the workplace. Renovate your office into a branded workplace with the help of a professional commercial contractor in Toronto to reinforce corporate values and inspire your staff. A branded workplace can project the core principles of the company and create a memorable and immersive experience.

Bringing the outside in

Bringing nature inside the workplace is an ongoing trend. Incorporating nature into the office can reduce stress in the workplace, encourage creativity, and may even keep employees healthier. Bringing plants, outdoor enclosures, or patterns that mimic the outdoors are all ways to bring nature indoors.

Home away from home

A big trend for 2018 is the home-to-home feel. It is a back-to-basics approach that brings a welcoming, residential feeling to office spaces. Extravagance has become unnecessary for many businesses.  Incorporating homely finishing touches, natural textures & floral patterns in artwork along with wooden furnishings and decorative lighting structures brings a cozy home feeling inside the workplace. This may help form ideas and enhance productivity.

Multipurpose workspace

There is an emerging trend towards multipurpose workspace that caters to an array of tasks. It can be put to use for everything from presentations to an informal breakout area to a warm space for naps or yoga. This flexibility of multipurpose workspaces marks an end to the permanent layouts that many people are accustomed to.

Integrating bursts of color and texture

Last but certainly not least, businesses are trending towards introducing bursts of color, patterns, or texture into otherwise plain walls. Offices, if not designed properly, can appear to be dull places that do not inspire creativity. Combining pops of color in different ways into workspaces create a more diverse, encouraging and personalized work environment. 

How much does a store renovation cost?

Estimating how much to budget for your store renovation may seem like a daunting task. One of the biggest concerns of a store owner while renovating the store is, of course, “how much will it cost me?”

Unfortunately, there is no single answer. Instead, there are many factors that contribute to the bottom line of your store renovation project. These include the size and age of your store, the cost of the materials, and the extent of the renovation to be done. Ultimately only a qualified contractor who has understood your requirements will be able to arrive at a final number.

Many store owners consider store renovation as an expense, and as such, try to spend as little as possible. However, savvy store owners consider renovations as an investment, understanding that a renovation can bring a higher average order value and more customers to their location.

Understanding the investment required for a proper store renovation in Toronto is critical to realistic budgeting and a successful project. The exact cost of renovating your store will depend on its size and the age of the building, regional labor costs, materials used, and just how much of a face-lift it needs.

The age of the store is a particularly important factor. Many older stores may require infrastructure updates and are labor-intensive projects, whereas newer stores typically have easier access to wiring, plumbing and ventilation. In general, the older the store, the more the hidden costs. Likewise, the larger your store is, the more you may have to invest in your remodeling.

Sensible store planning and design will help you accurately calculate the materials and labor required. Planning ahead will prevent wastage, time delays, and unexpected expenses. Pricing of materials varies widely and is an area where store owners can save big if they buy correctly. Working with a trusted, expert remodeling contractor will enable them to source the best materials and designs from around the globe. Make sure you choose your commercial contractors wisely. Your commercial contractor in Vaughan will be able to save you money by keeping costs down wherever possible and work to deliver a renovation that you, your employees, and your customers will enjoy for years to come. 

5 Benefits Of Hiring A Cornerstone Project Management Consultant

The best construction managers tend to be experienced general contractors with plenty of field experience in the construction industry.  Cornerstone fits the bill in this regard.  Our project management consultants bring a fresh, unbiased perspective of your commercial construction project. From ensuring an effective bidding and selection process to final QA and sign off, we are your partner, every step of the way.

•        Cornerstone's project management consultants, add value to your project by using their skills and expertise to help deliver a solution and mitigate risks that provides a meaningful return on investment.

•        Cornerstone's project management consultants are experienced and trained. They proactively engage with the project in a timely manner and deliver a full-spectrum of services across every stage of the construction project’s life cycle.

•        Cornerstone's project management consultants are not just advisors. They are also practitioners and will take responsibility for managing a project or program. We educate our clients and guide them through all the challenges of the design and construction process so they will be get the end result they desire and need.

•        Our project consultants understand scheduling and budgeting in detail. We use advanced software and our best practices to monitor the project and do everything possible to work towards a final solution that is on time and under budget.

•        Cornerstone's project management consultants maintain high professional standards. We rely on our reputation and know that future business relies upon referrals and a successful track record.

By hiring Cornerstone, the preferred retail program and construction management consultant in Miami, you can successfully complete your complicated or difficult commercial construction project in a short period of time because we know what to do, when to do it, how to do it, and why. We also know what to avoid based on their lessons learned from a variety of environments, industries, and clients. This is invaluable knowledge that you can take advantage of. We aim to exceed our clients’ expectations in everything we do!

Eight steps to survive your Office Renovation

At some point office owners may have to deal with a renovation project. They may require a better functionality of space or to have a more stimulating environment for productivity. Maybe just a new look and feel, or to make an old office more modern. Whatever the reason, office renovations may seem overwhelming on so many fronts, but with a little planning and a great office renovation team you can get through it. Here are a few steps to guide you through a stress-free office renovation.

1.     Budget carefully- Plan to spend an extra 10 percent of the construction budget on unforeseen expenditures. Consider the money a bonus if you don’t end up needing it.

2.    Be clear about your priorities- Priorities may get lost in the seemingly endless decisions you may be asked to make during a top-to-bottom office renovation. Staying focused on what is most important to you, will help to remove the stress normally associated with a renovation and to achieve your goals. Make a list of must-haves” and “nice to haves”. This will give you something to revisit if there are any difficult decisions later on or if you find the project straying from your original plans and needs.

3.    Choose an experienced commercial contractor – A proper, effective office renovation requires expertise, experience, and planning. Choose an experienced, licensed, insured commercial contractor to avoid common renovation pitfalls.

4.    Identify what is included- Once you have chosen your commercial contractor in the GTA, ensure that you are both absolutely clear about what is and isn’t included in their quotation and costings. You don’t want the job to start and then find out that things you assumed were included have not been. This would result in an additional cost and possible time delay while you try to resolve the issue. Make sure to get quotations in writing to avoid any miscommunications.

5.    Make selections early- Ask your contractor to give you a list of everything you need to select things like paint colours, tiles and lighting options, along with the date they need to receive the materials. This will ensure the process keeps moving ahead and you are not creating any bottlenecks.

6.    Expect, and plan for, some delays- Unexpected things often pop up in an office renovation, so keep track of overruns so you’ll have no major surprises at the end. Allow for a few extra days on key tasks, particularly when multiple contractors are involved.

7.    Believe in the process- Trust in your contractor’s ability and believe in the process to keep it moving. Don’t be afraid to ask questions, but allow the contractor to effectively manage their project as per their processes. 

8.    Be on-site frequently - Last but not least, visit the remodeling site at regular intervals to stay updated on project progress.

Stay calm, work your plan and keep your eye on the prize. The end result will be worth it…we promise!

Tips for Efficient Commercial Construction Bidding

Managing the bidding and vendor selection process is one of the most important roles of a construction project manager. During the bidding process, the construction project manager sends RFPs (requests for proposals) to qualified subcontractors for supporting the construction project. Upon receiving replies, the project manager vets and ultimately selects the vendors who will work on the project. Here are some tips for ensuring an efficient construction bidding process:

Get the blueprints/project plans: The first step to the construction bidding process involves reviewing (or creating) the project plan. The project plan shows the type of work the project needs (roofing, concrete, hvac, fire alarm, etc.), what the individual requirements are, and how the overall project should come together. This plan enables the project manager to gain knowledge on which types of companies to call and receive quotes from.

Reach out to qualified companies and sub-contractors: The next step for the project manager is to reach out to the qualified companies and sub-contractors for each type of work needed. The project manager should obtain numerous bids for each area of the project in order to find a suitable price for the overall project budget. Once all of the desired bids have been put together, the project manager can calculate the final estimate for the project.

Use construction estimating software to calculate the real costs of the job: These days, construction management consultants use powerful tools and construction estimating software to help reduce the guesswork that goes into creating a bid. Software makes it easy to adjust changing requirements or costs without redrafting the entire bid. This also gives subcontractors easy access to multiple large files when deciding whether they will bid or not bid on the project.

Make sure you make profit: Don't bid too low. Many commercial contractors make attempts to win the project by undervaluing their services. It’s not worth it. Overhead fees must be included in the bid.  If you just ask for the cost of the job, you will lose money. You must substantially mark up your final price to make sure it is a profitable project in which you will surpass expectations.

Explain the bid in person: Discussing in-person about costs, differing figures from another contractor, and the overall project vision. This will eliminate miscommunication about the proposal or project.

Many construction companies lose money on jobs when they try to go below margin to compete with other people’s bids. If done correctly, with the help of an expert project management service, builders can get the ideal bid for the project which works for all involved parties.

Why are Planning & Scheduling important in Construction Management?

Planning and scheduling play crucial roles in good construction project management. They help the project manager complete projects in time and within budget and ensure the client is on the same page as the contractors. A written plan with a schedule helps & motivates employees and contractors to achieve their goals. Planning & scheduling are important in construction management because:

•       Nobody wants to win a project with an impossible schedule where you may be penalized for late completion. Planning & scheduling helps to determine whether the duration the client has specified is attainable.

•       A project plan and schedule provided to subcontractors while inviting bids for a project, lessens the chances to misinterpret the construction project work. A clear plan will reduce the possibility of arguments and conflicts amongst the contractor and subcontractors.

•       A clear plan and schedule enables monitoring of the project and may enable completion ahead of schedule. A strong plan provides the sequence of tasks to guide project managers and supervisors as to which activities they need to be working on, and which are the next ones they should be planning for. It then shows the route that the team must follow. This is critical particularly when multiple vendors are supporting a project.

•       Planning & scheduling help you stick to cost estimates. It helps to calculate overhead costs and avoid any last minute surprises while preventing unnecessary costs or delays.

•       Monitoring the original project plan & schedule allows you to predict problems that may pop up during a project. It will tell you just how far off-track your project is, and allows you to create an alternate plan to get back on track.

•       Understanding when resources are required and why. By knowing the actual lead times and the sequence that materials will be placed and assembled, a project manager can assess several possible installation sequences to arrive at the most productive approach.

•       Planning and scheduling makes progress easier to track. It provides feedback on whether the construction work is proceeding according to the plan and schedule and whether the project will be completed on time and within budget.

When the team knows what is supposed to occur and when their part begins and ends, managing the project is made easier. Accurate and appropriate planning and scheduling ensures a smooth workflow, timely completion and value for money.