Did you know that 85% of capital improvement projects suffer from missed deadlines, budget overruns and poor communication? What do you suppose the tangible and intangible cost of this is to your organization? Owner’s Representatives are the solution to improve the design and construction process, overseeing and advising an Owner through complexities of expansion.
Owner’s Representation is the administering of a capital improvement by an experienced professional in the development world. The real estate, design and construction industries have their own languages, timelines, costs and expectations. Count on an “Owner’s Rep”to manage time and finances and to add unique knowledge to an Owner’s leadership team with regards to planning and executing capital expansions. An Owner’s Rep is a trusted advisor with regards to best practices, risk evaluation, task execution (managing program and architects, visioning schedules, developing budgets, negotiating fees, overseeing construction, etc.) and day-to-day support for the complexities associated with the built environment. An Owner’s Rep sets high-level goals for a project, usually working outside the norms of a typical development process, understanding the fundamental motivations for all individuals and working hard to allow everyone to achieve their goals. They work to insure these drivers are an integral part of the process and eventual realization at the conclusion of the endeavor.
While operating as an advocate, an Owner’s Rep stresses the value of mutual success in reducing risk. This insures the entire team is working toward a common goal for the benefit of not only the Owner, but all parties involved. This “win-win” philosophy allows the team to rally around a problem to solve for the mutual benefit of the project and the consultant / contractor team.
Trends in development and construction are leading to leaner, faster models of delivery. An Owner’s Rep lubricates the process, bringing development experience and specialized management to an executive team. The ROI for this position is limitless in reducing risks associated with design and construction. An Owner’s Rep brings the knowledge to improve outcomes, increase the efficiency of communication and improved project finance-ability of a project with verifiable experience and a proven foundation of success.