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Containing Construction Costs FCUFS March 17, 2016 Happy St. Patrick’s Day Presented by Mike McCormick, AIA Associate Vice President Capital Planning &

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Presentation on theme: "Containing Construction Costs FCUFS March 17, 2016 Happy St. Patrick’s Day Presented by Mike McCormick, AIA Associate Vice President Capital Planning &"— Presentation transcript:

1 Containing Construction Costs FCUFS March 17, 2016 Happy St. Patrick’s Day Presented by Mike McCormick, AIA Associate Vice President Capital Planning & Development

2 UNDERSTANDING THE COSTS What we Build ~60% How we Build ~40% *average cost over the last five years

3 DRIVING COSTS DOWN *average cost over the last five years

4 CURRENT EFFORTS UNDERWAY What we Build ~60% Project governance Clear goal setting Benchmarking Business plan (pro forma) Portfolio view Shell / fitout approach Building standards

5 What we Build ~60% How we Build ~40% Project governance Delivery method In-house fees Permitting fees Project reporting Collaboration = Culture Change Project governance Goal setting Benchmarking Business plan (pro forma) Portfolio perspective Shell / fitout approach Building standards Project agreement / process CURRENT EFFORTS UNDERWAY

6 GOAL IS TO REDUCE CAPITAL COSTS *target cost without escalation

7 Next Steps Strategic Capital Planning / Campus Planning – portfolio perspective Project governance setup for all projects New pre-design documentation ₋ Goals and objectives- Business plan ₋ Benchmarking- Sources & uses table Revamp Building Standards – more prescriptive & process oriented Revise internal policies & procedures – ensure consistency Training for PM’s (team building, collaborative delivery methods, etc.) Revamp Contracts for collaboration (focus on progressive D/B) New real-time project reporting (PM Web implementation) Shift internal design fees from hourly to state fees


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