Four Reasons to Keep Your Project Moving Forward
Across industries and regions, the coronavirus pandemic is disrupting life as we know it. Its effects will echo through our economy for years to come. At Miller-Valentine Group, we are using this opportunity to BUILD CERTAINTY. We are studying industry projections, researching market trends, and applying evidence-based best practices to help our clients navigate the unknowns and plan for the future.
If any one word could best summarize our current climate, it’s uncertainty. Organizations across the spectrum are trying to plan for a post-pandemic future using limited data and imperfect models. When will the economy reopen? What shape will the economic recovery take? How long until we get back to “normal,” whatever that might be?
For many companies that planned to renovate, expand, or build new this year, this uncertainty has created a moment of pause. But, there is no need to bring everything to a halt. Moving ahead with design and front-end due diligence now will position you to capitalize on a quick start to stay ahead of the construction resurgence.
Hit the Ground Running
The design phase—which includes programming, planning, and design drawings—is the most time-intensive phase for owners and their representatives. The process can take months and requires many hours-long weekly or bi-weekly collaborative meetings.
This up-front work is a fraction of the overall cost of a construction project, and much of it, as we have recently proven, can be done virtually with very little loss of productivity. For a minimal investment, owners can keep their project moving forward to:
- Ensure plans reflect current and future needs. Prior to the pandemic, companies tended to rush through the planning process as speed-to-market was a common driving factor. With that pressure temporarily reduced, owners can take more time to analyze their space and make sure they are getting both what they want and what they need. Will you require as much office space as you thought? Are you being as efficient with your layout as you could be? Are you designing for growth? Taking the time to think through the long-term use of your space could deliver significant savings down the road.
- Begin the permitting process. Many municipalities have adapted their inspections and permitting processes to support social distancing measures. By finalizing your plans now, you can get started on the permitting process and be ready to go as soon as your operations allow.
- Take advantage of competitive pricing. A strong demand for materials and a shrinking labor pool prompted a steady rise in construction costs during the past decade. We don’t expect that to change post-pandemic. However, we do anticipate a narrow window when pricing will be more competitive. Investing in the upfront work now will position you to take advantage of more favorable pricing before demand—and costs—resume their climb.
- Get ahead of inclement weather. The clock is ticking for projects that need to break ground in 2020. Construction needs to be underway by August or September at the latest to avoid the higher costs and schedule uncertainty of winter. Getting your ducks in a row now will improve your ability to begin site work and have footers in the ground before inclement weather sets in.
Helping You Navigate the Future with Certainty
While we are cautiously optimistic about the future, we recognize that the coronavirus pandemic is going to change how people live and work for years to come. If growth is in your future, now is the time to dive into your plans, so you can think through how those changes will affect your business. When stay-at-home orders are fully lifted and the economy begins picking up steam, you can then devote more time and energy to ramping up your internal operations and focusing on your core business.
We are here to help owners navigate this new normal with confidence. By thinking like an owner and asking the right questions upfront, we deliver creative solutions that are tailored to your vision. As a result, you get the greatest value from your next building project—and every project that follows.
Ready to embark on your next construction project? Contact us today at 800-684-7687 or e-mail Info@mvg.com to start mapping out the best approach.