Construction and Project Management
Incomplete development projects or partially entitled land holds untapped value. Our experts can advise on the potential of a project for the lender or can work with a developer/owner to provide added resources to complete a project. Our open lines of communication and attention to detail streamline the process and eliminate surprises.
Based on our client’s priorities, we provide management strategies to financial institutions which allow them the ability to make sound executive level decisions based on their respective operational and fiscal priorities. Our Project Management and Construction services can include any combination of the following:
- General Contracting
- Property Entitlement
- Program Analysis
- Lender Liaison
- Project Repositioning
- Post Foreclosure Construction Defect Liability Issues
- Return on Cost Analysis
- Standing Inventory Completion Budgets
- Land Development Cost-to-Complete Budgets
- Completion Schedules
- Expert Testimony
- Third Party Quality Control Management and Documentation
- Fee Building
Construction Management Professional Practice which includes specific activities like defining the responsibilities and management structure of the project management team, organizing and leading by implementing project controls, defining roles and responsibilities and developing communication protocols, and identifying elements of project design and construction likely to give rise to disputes and claims.
Construction Management is the management of the bid and award, construction and closeout phases of a single project. Construction management services may include:
- Schedule Control
- Optimizing strategies for procurement and phasing construction marketing to bidders to ensure competitive prices.
- Cost control
- Quality control
- Closeout and document turnover
- Transition to occupancy
- Post-Occupancy evaluation
Constructability reviews are a key to trouble-free projects. American General Realty Adviser’s approaches the Constructability review as a structured review of the plans and specifications. The focus is on the build ability of construction, bid ability and efficiency of construction. Our reviews bring to light problems in the following area: reasonableness of work sequence, comprehensive and completion of construction documents, coordination of the documents among the various engineering disciplines, adequacy of lead time for material and equipment procurement, site restrictions and adequacy of access. We have found that significant cost savings and reductions in change order rates can be accomplished through properly conducted Constructability reviews.
American General Realty Advisers, LLC’s value engineering analysis focuses on meeting the functional requirements of the building at the minimum cost and highest quality. Each building system and its components are analyzed for adequacy, efficiency, length of useful life and cost. Life cycle costs are established for alternative systems and components. Our strength in the review of the various engineering disciplines, combined with daily hands-on practical experience, can be a significant benefit to the lender.
One of the main elements of each construction project is time. Construction scheduling is for managing and controlling time. Construction schedules should be realistic and should reflect the actual sequence of work; actual progress should be compared to the baseline schedule on a regular basis; and techniques, such as short interval scheduling and critical path analysis can help avoid delays and make up lost time if necessary.
The cost component of a project is the most visible, if not the most important aspect of a construction program. For a credible and successful project, budget compliance is a basic necessity. American General Realty Advisers, LLC’s estimating group, comprised of experienced estimators in all disciplines, works closely with the owner to develop complete, accurate budgets. Since any established budget is a meaningless number if it is not accompanied by a project scope definition, it is our specific responsibility to identify the project scope upon which the budget is based. When the project scope is defined, the budget is established based on current market pricing. With our daily experience in local market prices and in bidding building components and systems, our input into the budgeting process can be invaluable. On a regular basis, American General Realty Advisers, LLC updates the status of the project budget and provides the owner with a monthly updated cash flow report.
Project Management is the professional management of a single project from the planning, design phase through closeout and occupancy. Project management services may include:
- Project Definition
- Developing a realistic and complete budget
- Schedule of planning and design phase management
- Identification of Immediate Threats to Asset Value and Preservation of Value
- Physical Condition of Collateral Analysis
- Cost-to-Complete for Standing Inventory and Land Improvements
- Surety Bond Analysis and Risk Assessment
- Entitlement Analysis and Risk Assessment
- Community Facility District & Tax Analysis and Risk Assessment
- Conditions of Approval Analysis and Risk Assessment
- Schedule and quality control
- Review of documents for coordination and constructability