Reducing the cost of building

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Lets face it we all want our project to come under budget, but we also want the best value for the money we spend. In the current market where construction costs are volatile, builders are going bust and a challenging lending environment what can you do to control your project investment? Grayspace have developed a white paper with case studies on how to de-risk a project and avoid budget blow out. Our top tips and key considerations are:

  1. A systemic approach – develop a project budget with goals, objects and criteria to determine value
  2. Options analysis – develop cost-saving opportunities across the product lifecycle whilst retaining value
  3. Design & Engineering – optimise high costs items such as plant and equipment, steel and concrete
  4. Baseline – Develop a base line for negotiations
  5. Negotiate hard and fair – Analyse the tender; where are the strengths, risk and week points. Assess the bid against the project goals objectives and options.
  6. Understand the builders critical path of construction – where are the week points, what programmatic changes can result in a win for the builder and the client.

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