Construction Tip submitted by Tech
In the world of construction, as with all business, time equals money. The costs associated with even a minor construction project, relative to time, usually becomes the focus of most projects. Three questions have to be addressed up front. 1) How soon can the project start? 2) How long will it take to complete? and 3) When will the client pay for it?
No project can be successful without recognizing the need to develop a realistic schedule, far enough in advance of the projected start of construction, in order to insure success.
You’ll notice I referenced a “realistic schedule”. As with any scheduling, ALL aspects of the construction project will need to be considered when developing the timeline. Questions will pop up related to the project, such as:
- Are any entitlements required for this project? If so, which ones apply and how long does it take to complete the process?
- What materials are required to complete the project and what is the lead-time for procurement?
- Does the project require specialized labor? If so, where will this labor force come from and can they be available for the duration of the project?
- What are the expectations of the client relative to scheduling?
- Are they expecting miracles? If so, are they willing to pay for them? And if money is “no object”, can this “miracle” truly be accomplished?
As you can see, there can be a wide variety of criteria to consider for any construction project. The key to a successfully completed project is to understand the overall scope of work and to create the schedule, far enough in advance of the projected start date, to REALISTICALLY develop a schedule that not only defines the timeline but reflects the needs, and wants, of all parties involved. So, if time truly does equal money, then the key to leveraging both is to create a schedule that maximizes both.