Our principal, Jonathan Williams, was pleased to facilitate a recent CREW Conversation over Coffee. Among a group of fellow CREWBaltimore folks who gathered for a virtual coffee meet, they talked about several aspects of owner representation and contracting.
The conversation started with an overview of the life cycle and capital stack of real estate ownership combined with the importance of owners and buyers to set clear expectations, make timely decisions, and pay people promptly.
Then they reviewed the value of engaging a separate project manager or program manager when expertise, experience and capacity are needed. Jonathan then explained what to expect from a professional manager through the five phases of every project and the different aspects of project, program and portfolio levels of real estate renovation and development.
Additionally, the group compared project delivery methods from traditional design-bid-build to integrated project delivery (IPD). That led into conversation about various template contract sources and advantages and disadvantages of cost plus vs. fixed fee types.
Real Projectives® employees have been proud members and supporters of Commercial Real Estate Women (CREW) and appreciated the chance to share with Baltimore-area members about our areas of expertise and passion. Please check out www.crewbaltimore.org and www.realprojectives.com for further information.