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Whether you are a lender, syndicator, or investor, it is important to pay attention to factors that may be outside of your main areas of risk. Having a plan in place for construction risk management can add value to your project and protect you from unforeseen risks. At Moran Construction Consultants, we use our 50-plus years of construction experience to offer an in-depth construction consulting service inclusive of up-front reviews, monthly construction loan monitoring, property condition assessments, and more. Let’s take a look at some reasons why hiring a construction consultant for your next job can ultimately help you save time and money:
1. Quality Assurance
Although we hope for high-quality work, too often we see extensive delays and legal disputes arise among construction parties. This, in turn, leads to time and costs for all parties involved. It is important to make sure the project has a qualified team, including an experienced architect and General Contractor, both with expertise in projects of similar size and scope. This will aid in producing quality workmanship and documentation in addition to a more smoothly run project. By hiring a third-party construction consultant, you can rest assured that you have someone carefully monitoring your project at each phase of construction. If an issue does arise, our consultants will address the situation immediately and notify you so that appropriate action can be taken.
2. Cost & Time Risk Mitigation
One of the most important factors in any deal is making sure the project will be constructed on time and within budget. All construction projects can be impacted by unexpected change orders and other financial constraints. This has been even more exacerbated with today’s current market. Increased material costs, delays, and shortages have made the ordering of construction materials somewhat unknown but planning with an experienced construction consultant can help you steer clear of major delays.
3. Industry Knowledge
The largest benefit of having a construction consultant on your side is the access you gain to valuable industry knowledge. Monitoring construction sites across the country has given our company the unique perspective of seeing key elements that make a project successful. For the duration of the project, your designated consultant will be available to answer questions and provide insight. In addition, they will provide you with a detailed report on the state of the project.
Moran Construction Consultants has long-standing expertise in assisting lenders, syndicators, and investors in mitigating risks associated with construction. Our 50 years of industry experience have afforded us an incredible range of projects priced from several hundred thousand dollars to several hundred million dollars and within diverse sectors including high rise, retail, office, entertainment, education, multi-family apartments, and residential homes. With projects across the country, we have a unique perspective on national and local market trends based on our extensive database of project information, allowing us to make accurate and timely comparisons. Our dedicated and responsive team consistently meets national customer demands, with local market knowledge.
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