Managing Change Through Owner Representation
Our last article discussed the inherent risks of renovation and development projects and how owner representatives help to foresee and manage them. Now we’ll tackle the fact that change happens both from unwanted surprises and desired modifications.
Change Is Constant
Even the best-laid plans can sometimes go awry. Owner representatives seek to understand the owners’ ability to tolerate change and work to minimize unwanted surprises. Change to a real estate improvement project can come in a variety of forms. For example, a timeline might be changed when a local jurisdiction asks for additional documentation. Owner representation can help avoid this situation with expert knowledge of local codes and regulations.
Another type of change happens when the scope of a project shifts mid-construction. This change in plans might come up when an owner or contractor suggests additional improvements be tackled that weren’t in the original plan. An owner representative can head off this scope-creep by asking hard questions about the goals of a project before construction begins.
Keep in mind that enlarging the scope of a project isn’t always a bad thing: The owner representative might suggest making larger changes if he or she suspects that “going small” would be something the owner would regret a few years down the line. Careful thought and considerate decision-making are just part of what owner representation brings to the table.
If you are considering owner representation, we’d be happy to discuss how we can support you. For more information on the services we offer clients, browse some of our other articles — or give us a call at 888.357.7342.