Thomas Attends Advancing Preconstruction Conference

06/02/2023

The construction industry, like any other, is not immune to challenges. However, in the face of these challenges, true innovation and progress emerge. The construction industry is undergoing a transformative phase, from navigating cost escalation and labor shortages to mitigating supply chain disruptions, and that is particularly true in Preconstruction & Estimating.

At Thomas Construction Group, we are Always Building our knowledge base and we are humble to the fact that there will always be ways to improve. We understand the importance of proactively addressing these issues and eagerly sent two of our talented teammates, Derrick Nobles, Senior Estimator, and Mike Pritt, Preconstruction Director, to the 8th annual Advancing Preconstruction conference. Read on to discover valuable insights from the conference and explore how Thomas plans to leverage these learnings to better serve our clients and deliver the best possible product.

Thomas Attends Advancing Preconstruction Conference: Insights And Strategies For Success

VALUE ENGINEERING FOR SUCCESS

The conference highlighted the important of applying a comprehensive value engineering processes. By following these steps, Thomas can enhance project outcomes for our clients & teams, alike:

Gather appropriate and accurate information: Fully understanding client goals, conducting data analysis, and prioritizing project requirements lay the foundation for successful value engineering.
Functional analysis: Set targets, identify opportunities, and measure feasibility to optimize project design and functionality.
Promote creativity: Encourage brainstorming sessions, leverage technology, and explore different means and methods to foster innovation and efficiency.
Evaluation: Carefully weigh the pros and cons, consider collateral issues, and account for designer considerations when making decisions.
Presentation: Communicate findings effectively, track decisions, and maintain clear documentation to ensure transparency and accountability.
Benefits: By prioritizing value engineering, Thomas Construction Group can build client trust, foster team building, and achieve efficient design outcomes.

10 STRATEGIES FOR BUILDING A SUCCESSFUL GMP

Another topic that resonated with our team was strategies for creating a successful Guaranteed Maximum Price (GMP) for construction projects. By incorporating these strategies, Thomas Construction Group will continue to deliver projects on time and within budget consistently:

Don’t rush a miracle: Allow sufficient time for project planning and execution.
Recruit the right partners: Collaborate with reliable, experienced partners aligning with project goals.
Know the game’s rules: Familiarize yourself with industry regulations and compliance requirements.
Destroy the ticking time bombs: Identify potential risks and address them proactively to avoid delays and cost overruns.
Look for holes: Conduct overlays, constructability reviews, and design assessments to identify potential issues and rectify them in advance.
Don’t get caught in the value engineering trap: Balance cost optimization with project quality and functionality.
Create effective allowances: Clearly define scope, explain the basis for cost estimates, review with stakeholders, establish time allowances, and set expiration dates.
Write helpful clarifications: Provide specific instructions and review clarifications with individuals unfamiliar with the project to ensure clarity.
Analyze data to make good decisions: Categorize costs to understand the GMP and allocate appropriate allowances and contingencies.
Be competitive and complete: Strive for excellence while maintaining a competitive edge to win more projects and satisfy client expectations.

KEY TAKEAWAYS AND THEMES

Attending the Advancing Preconstruction conference proved invaluable for Thomas Construction Group. Building a proactive approach to preconstruction resonated with the company’s vision, emphasizing the significance of pre-planning and roadmaps. Implementing these insights enhances project approaches, fosters collaboration, and reinforces the importance of a positive team culture. Equipped with these valuable lessons, Mike, Derrick and the entire Thomas Precon team look forward to continuing to deliver exceptional results.