No project is problem free and each is unique. Projects regularly face concerns such as budget and resource constraints, aesthetic issues, safety standards, and guest comfort levels. By applying value management to a project, FTK’s project management division can derive the following benefits for you:
- Reduce overall project costs
- Boost operational and maintenance cost efficiency
- Minimize paperwork
- Accelerate project schedules
- Reduce and effectively manage waste
- Streamline procedures and use of resources
- Generate innovative solutions to problems
Objectives of FTK’s project management team
- Work with asset owners at the outset of the project and make recommendations on design improvements, schedules and value engineering opportunities.
- Propose construction alternatives when possible and report on the effects of alternatives on project cost and schedule.
- Coordinate procurement of material, equipment, labor, revisions, claims and inspections.
- Perform other project-related services as necessary.
We achieve these goals through the following processes:
We start the value management process with a meeting focused on organization and enhancing overall project value. These discussions can last a few hours or a few days, depending on project complexity and client needs. We analyze team composition for the project and introduce the job plan. We then review the objectives of project management and decide individual assignments for team members. At the end of these discussions, all proposed alternatives are compiled and presented to the client for review and implementation. Results are tracked throughout the project.
Value management is not simply cost cutting, but rather a method by which to provide clients with the highest quality project with minimal initial investment and minimal operating costs throughout the project timeline.
The FTK team includes veterans of construction projects ranging all scopes, including renovations of all classes of buildings, to new construction, to exterior asset repositioning of commercial and multi-family assets, down to interior unit turns for apartment communities. The FTK team is qualified to provide an objective, third-party review of the design objectives of your project. Our intention is to save you time and money and to lessen any frustrations you might experience throughout the lifespan of your project.
A few of the review services FTK provides include insights into design, alternative material options, potential risk factors and more economic methods for the construction process. In order to derive the greatest value from these reviews, they should begin at the earliest possible moment in the client design stage. This reduces frustration and delays caused by RFI’s once other parties are brought into the project.
Completing a new project on-time and on-budget is our ultimate objective, yet the full financial implications of most projects are not known at project inception. FTK can help you determine cost impacts for your project based on many contributing factors.
FTK can manage project expectations and outcomes to help you regain control on expenses, many of which you haven’t yet committed. We begin by reviewing your project and using our expertise to predict cost outcomes based on the unique project parameters. Once these predictions have been made, we can tailor a cost management system to meet your specific needs. This system allows you greater control of project costs. The cost management system that we implement for your organization will help you better manage existing cost structures, set baselines, and estimate future costs and risks.