OWNER REPRESENTATIVES | DEVELOPMENT & CONSTRUCTION MANAGEMENT
Owner and Investor Representation
As owner representatives we serve as a professional who is hired by the owner to act as your representative and advocate throughout the construction process. The owner rep is responsible for overseeing and coordinating all aspects of the project to ensure that it is completed on time, within budget, and to the owner's specifications.
The owner rep does not replace any other professional or stakeholder, but assists all involved in meeting their goals and to create an environment where all are working together as a team, on behalf of the owner, from the conceptualization and pre-construction phase, to the project close-out. Similar to a symphonic orchestra, everybody plays an important instrument, but a conductor oversees the tempo and unifies the team. When acting as general contractors, we can offer an integrated cost-plus open book approach.
An owner representative in development and construction plays a vital role in improving communications and keeping the project team cohesive. Here are some of the ways in which an owner representative can achieve this:
1. Centralized Communication: The owner representative acts as the central point of contact between the owner, the design team, and the construction team. This helps to ensure that communication is streamlined, and everyone is on the same page.
2. Clear Expectations: The owner representative can help to establish clear expectations for the project and ensure that everyone involved understands their roles and responsibilities. This helps to prevent misunderstandings and promotes a shared sense of purpose among the team.
3. Conflict Resolution: The owner representative can act as a mediator in the event of conflicts or disputes between team members. By helping to resolve conflicts quickly and effectively, the owner representative can help to maintain a positive working environment and keep the team cohesive.
4. Collaboration: The owner representative can facilitate collaboration between the various members of the project team. By encouraging everyone to work together and share information, the owner representative can help to foster a sense of teamwork and collaboration.
5. Accountability: The owner representative can help to ensure that everyone involved in the project is held accountable for their actions and their contributions to the project. This can help to promote a sense of responsibility and accountability among the team, which can contribute to a more cohesive and productive working environment.
6. Problem-Solving: The owner representative is responsible for identifying and solving problems that arise during the construction process, such as delays, changes in plans, and conflicts between contractors.
7. Risk Management: The owner representative is responsible for identifying and mitigating risks associated with the construction project, including safety risks, financial risks, and legal risks.
Overall, an owner representative in construction can help to improve communication and keep the project team cohesive by acting as a central point of contact, establishing clear expectations, facilitating collaboration, and promoting accountability and conflict resolution.
Why Hire An Owner Rep
There are several reasons why an owner may choose to hire a construction owner representative, including:
1. Expertise: A construction owner representative has the knowledge and experience necessary to manage complex construction projects and ensure that they are completed successfully.
2. Time-Saving: Hiring an owner representative allows the owner to focus on other aspects of their business or personal life, without having to devote all their time and attention to the construction project.
3. Cost-Effective: An owner representative can help to ensure that the construction project stays on budget and is completed on time, thereby reducing the risk of costly delays and overruns.
4. Improved Quality: An owner representative can help to ensure that the work performed by contractors and subcontractors meets the owner's specifications and is of high quality, which can help to improve the overall quality of the finished project.
5. Peace of Mind: Hiring an owner representative can provide the owner with peace of mind, knowing that they have an expert advocate working as a single agent on their behalf to ensure that their construction project is completed successfully.
Representation Brings Tangible Value
There are several studies and reports that suggest that having an owner representative on a construction project can lead to cost savings and improved project performance. Here are a few examples:
1. According to a report by the Construction Industry Institute, projects with a dedicated project manager, which could be considered an owner representative, have a 33% higher chance of being completed on time and a 31% higher chance of being completed within budget compared to projects without a dedicated project manager or owner rep.
2. A study by the National Institute of Standards and Technology found that effective project management, which could be facilitated by an owner representative, can reduce construction costs by up to 10%.
3. A report by the American Institute of Architects found that projects with a project manager, which could again be considered an owner representative, have a lower likelihood of cost overruns, schedule delays, and change orders.
4. A survey by the Construction Management Association of America found that projects with a construction manager, which is similar to an owner representative, had an average cost savings of 5.7% compared to projects without a construction manager.
Overall, these studies suggest that having an owner representative, such as a project manager or construction manager, can lead to cost savings and improved project performance compared to projects without an owner representative.
While the specific cost savings and performance improvements may vary depending on the project, the evidence suggests that having an owner representative can be a valuable investment for construction projects.
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