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How to minimize the commercial construction costs - Some best practices

 

The construction industry is growing at a rapid rate. But the problem that construction industry regular faces is that ongoing rising costs. This issue can be easily resolved if the construction industry follows best practices and well planned strategies.

 

In a recent survey, it is detected that the costs of commercial construction building & materials surpass by 2% above inflammation as compared to previous year. With the expansion of construction activity, the firms turn out to be more careful in the projects they undertake which result in minimizing the competition in the market place. Besides, the costs of commodities and common materials are also increased due to reduction in supply and growth in demand.

 

In order to reduce and control rising construction costs, the following procedures should be taken:-

 

  • Remove backlog of projects to avoid escalation. Complete any construction project as soon as possible.
  • Reduce the risk of unplanned changes that involve missed details and unsystematic work in commercial construction design. Substandard groundwork may lead to changes that amount 10-15 percent of the whole original commercial construction costs. A good architectural design can save more than five percent in change orders which occur owing to improper details, imperfect drawings and unconfirmed assumptions.
  • To get rid of the mess in the planning phase, apply a design-build delivery practice. A design-build contract can transfer the risk from the owner to the design build team by simplifying the communication among team members. It results in minimizing the schedule of the project upto 33% as well as reducing cost overruns by 12.6%.
  • Reprocess, if viable, accessible materials or system like air conditions & plumbing in commercial construction retrofits and overhauls. The construction manager should assess the existing condition of significant building system rather than buying a new. It can aid circumventing increasing construction costs that occur for material pricing growth & inflammation.

 

A good construction manager should apply all the above practice to find out various ways to keep the commercial construction costs minimized and predictable.

 

How to minimize the commercial construction costs - Some best practices

 

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