A client of ours has been a tenant in a facility for years. Due to the “Up-Tick” in the economy he decided it was time to purchase a building and be his own tenant. He called us and said “As much as I would like to manage the capital improvements required for this building, I know what I don’t know. I recognize I have no experience in managing a design and build project and my time will be best spent doing what brings me income – my business”. With that said he hired PDMi to manage the capital improvement project.
Our first advice to him was to do three things:
- Determine which Delivery Method would be best suited for his project.
- Decide which Contract Method makes the most sense financially for him and his lending institution.
- Layout the sequence of Planning, Designing, & Implementing all the pieces and parts that make up the project.
In the next upcoming “e-Bits” I will unpack each of these and share how they impacted our client’s project. If we can help you plan your next capital Improvement project, give me a call, in the meantime- Stay Tuned for the Rest of the Story…