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| Grant Stevens, Joint Managing Director and Co-Country Head, Hines India, a speaker at the marcus evans Asian Infrastructure & Property Development Summit 2012, on having a pre-construction development plan to deliver projects on time and on budget. |
London, July 25, 2012 - (ACN Newswire) - The biggest delay you can face in infrastructure and property development projects is an owner who constantly makes changes to a project when it is under construction, according to Grant Stevens, Joint Managing Director and Co-Country Head, Hines India. "The most effective tool we have for delivering a project on schedule is the discipline we enforce on ourselves to make intelligent decisions early on and to stick to them during the course of construction," he adds.
A speaker at the upcoming marcus evans Asian Infrastructure & Property Development Summit 2012, at The Venetian Macao-Resort-Hotel, Macao, 21 - 22 October, Stevens shares his strategies for delivering projects on time and on budget.
-How do you make sure projects are delivered on time and on budget?
It is an integrated process that starts at the very beginning of a project. You need to decide on the project's programme and goals including all the specifications and requirements upfront. The biggest delay you can face on a project is an owner who constantly makes changes to a project when it is under construction. The most effective tool we have for delivering a project on schedule is the discipline we enforce on ourselves to make intelligent decisions early on and to stick to them during the course of construction.
- Is this all about communicating well with the project owner or initiator?
That and more. It is also about having the foresight and confidence to arrive at the best solution, whether it is in the terms of use - high end or low end of the market, commercial or residential - or any of the other decisions that go into defining the programme of the project. Determining the perfect project can be difficult to do in a constantly changing market, but the more disciplined the developer can be with the benchmarking, market studies, and project specifications, the less chaos he will cause when the project is launched.
We prepare a complete set of construction documents upfront, including all of the details of the finishes and materials; everything is selected and specified before contracts are awarded. That is typically not the case in this industry in India, but when we lock in the materials and equipment, we get better pricing from our contractors, who will not need to include contingencies for any unknowns.
- What should a pre-construction development plan include?
A very clear market study with what the needs are of the particular market, how the product can have an edge and a clear advantage in the sector, a clear and realistic budget, and a plan of the type of professionals who need to be part of the team.
- Can you tell me more on how to differentiate a project?
It starts by doing a lot of homework, looking at the competition and the specifications of successful projects. We look at what makes a project successful. Was it the location or certain amenities? The architectural design or energy efficiency features? What is it that made the project successful? Then consider what expertise you could bring to your project that will go beyond the benchmark you have established.
Developers should not go too far, because the market will only recognise the better quality, amenity or efficiency to a certain point. It is very easy to spend a lot of money on differentiating a project that will not be appreciated or rewarded in the market.
About the Asian Infrastructure & Property Development Summit 2012
This unique forum will take place at The Venetian Macao-Resort-Hotel, Macao, 21 - 22 October 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on evaluating public private partnerships, achieving environmental sustainability and speeding up project completion. For more information please send an email to info@marcusevanscy.com or visit the event website at www.aipdsummit.com/GrantStevensInterview
marcus evans group - property/engineering sector portal - http://bit.ly/IY9uQh
Please note that the Summit is a closed business event and the number of participants strictly limited.
Contact:
Sarin Kouyoumdjian-Gurunlian,
Press Manager, marcus evans, Summits Division
Tel: + 357 22 849 313
Email: press@marcusevanscy.com
Topic: Research / Industry Report
Source: marcus evans Summits
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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