Construction projects fail because of three core reasons: people, time, and money. To prevent failure, companies must do their due diligence with every aspect of the construction project before work starts. Make sure you’ve got the right people with the right skills and experience, that the schedule is realistic and manageable, and that the budget […]
A construction change order is a change in the scope of the original work agreed upon by the construction team and stakeholders. Construction change orders can range in severity and overall implications. In some cases, a change order can force a complete work stoppage while designers, architects, and construction experts determine how to manage a […]
A construction contingency is the amount of money allocated to pay for additional or unexpected costs during the construction project. Typically, a 5-10% calculation of the construction budget should be allocated to your construction contingency. This construction contingency is a key aspect of your risk management protocol to ensure that your construction project can remain […]
The Honolulu rail project offers a long list of lessons including how a lack of proper planning, independent review, and project oversight contributes to the damaging impacts of change orders, construction delays, and cost overruns. The rail project was envisioned as a way to alleviate the traffic congestion plaguing the community. The goal was to […]
The new Berlin Brandenburg airport was supposed to open in 2011. Today, March 2019, the Brandenburg still has not opened. The optimistic plan is that this much-needed airport will open in 2020 or maybe 2021…. Given the airport’s history of promised and then missed dates, it is hard to know who or what to trust. […]
The budget, construction cost estimate, and schedule for your construction project are all based on well-thought out and researched decisions. Decisions about materials, design, contractors, leadership, permits, and funding all impact the success of your construction project. So, what happens when there is a change in design, a line item or two added to a […]
Value Engineering is used in construction projects to provide a clear and detailed analysis of how best to meet the goals of the construction project. Value Engineering, when used with cost estimating, allows for an independent review of the entire construction project. This review process, typically completed within a Value Engineering workshop, is focused on […]
Unfortunately, not much is happening with California high-speed rail. In mid-February, the California high-speed rail project was effectively cancelled. There is much debate and sweating over the future of this project to connect San Francisco and Los Angeles. And a lot of this comes down to politics. I’m not going to dig into the politics […]
The lessons learned from the Boston Big Dig highlight the need to have a thorough construction plan that is thoroughly reviewed, questioned, analyzed and vetted before moving forward. The Boston Big Dig is notorious for its scale, scope, mistakes, and feats of construction engineering. As a result, there are many lessons that can be learned […]
Cost engineering is the engineering practice devoted to the management of project cost. Cost engineering consulting involves estimating, cost control, cost forecasting, investment appraisal, and risk analysis. This is value cost engineers bring to each construction project. Cost engineers do the budgeting, planning, and monitoring to ensure that your construction project is viable and successful. […]
PCS Participates in Inaugural Capital One CATAPULT Program
PCS Participates in Inaugural Capital One CATAPULT Program Jan. 24, 2018 FOR IMMEDIATE RELEA...
Proper Planning to Prevent Cost Overruns
The construction industry is plagued by misunderstanding surrounding cost overruns. Too many people...
Project Cost Solutions, Inc
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