This article originally appeared in the September 2024 issue of McKnightâs Senior Living.
The construction industry has been hit hard by supply chain issues in recent years, but those are not the only challenges that influence the current building environment. Increases in product and labor costs and shortages in staffing are additional factors that are certain to affect your next construction project. One decision made early in the process, however, can make a substantial difference.
Construction management options
Your choice of management and delivery of your new construction or renovation project will play a pivotal role. Here are some options to consider:
With a design-bid-build method, there are three primary players: the owner, the architect/engineer, and the contractor. Using this model, there are two contracts. The first is between the owner and designer, and the second is between the owner and contractor. The final contractor selection typically is based on either low bid or best perceived value.