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Insight: REIBC blog > Getting Ready to Build

Getting Ready to Build

posted on 10:28 AM, March 8, 2019
Burnaby Business Park, 4750 Tillicum Street, Burnaby, BC. credit: Nathan Worbets

With design and entitlement checked off, it’s time to turn your attention to the process of construction procurement and management.

Construction contracts take many forms and choosing the one best for your project takes careful selection. Nathan Worbets of Madison Pacific Properties describes it this way: “… consideration should be given to the most suitable type of contract based on the project timelines, ownership requirements, and risk profile. The decision really boils down to the transfer of risk and accountability for project costs and schedule.”

With the contract format chosen, tendering the project is the next step. Who will you have bid on your project? “The nature of the project and its location, timing, and scope all impact the potential candidates available to bid on a project,” says Worbets. “In addition, the reputation and experience of the various contractors will be important in determining who to invite.”

Evaluating the bids to award the contact follows, as do hiring a project manager and managing the day-to-day activities of the construction site and associated administrative tasks.

Input Fall 2018.jpg
Download Fall 2018

Want to know more? Read Worbet’s “Construction Procurement and Management” in the Fall 2018 edition of Input. Download Fall 2018

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