Budget Certainty in Uncertain Times: How ORs Help Keep Costs Under Control
In today’s construction and development climate – marked by inflation, supply chain disruptions, and labor volatility – cost control is no longer a competitive edge, it’s essential to a project’s success. For real estate developers, institutional investors, and capital partners, protecting budget certainty means protecting overall investment performance. An experienced Owner’s Representative (OR) plays a […]
What Does an Owner’s Representative Do?
Construction projects, whether a $2 million tenant improvement or a $200 million ground-up development, are inherently complex. They involve multiple stakeholders, technical disciplines, regulatory requirements, and layers of contracts. For property owners, developers, and investors, this complexity translates into risk: financial, legal, and reputational. An Owner’s Representative (OR) exists to mitigate these risks. Acting as […]
The Difference Between a Construction Manager and Owner’s Representative
According to a survey of senior leaders from organizations carrying out significant capital construction projects over the years, only 31% of projects came within 10% of the budget, and just 25% of projects came within 10% of their original deadlines. Considering that missing either of these factors by too large a margin can be the […]