A turnkey construction project is popular for good reasons, as you probably know. When planning a new construction project, there are 4 factors to consider in a turnkey project that will offer numerous benefits and saves time and money. Turnkey projects are when one contractor finishes all job phases under a single contract between the property owner and the contractor.
You don’t need to go to other vendors because the contractor organises, manages, and carries out the construction project. You can find more information on turnkey projects and their advantages below.
Factors to Consider in a Turnkey Project: Reduced Costs
One of the most significant advantages of a turnkey project is that it features reduced costs of labour and materials. Thanks to a single group of individuals handling all the planning operations and engineering tasks, you will save more time and spend less on your construction project. That said, estimating utilities, construction supplies, and labour costs is highly recommended before starting your turnkey construction project.
Factors to Consider in a Turnkey Project: Better Timeline Management
You must account for different timelines and completion dates if you outsource a construction project to multiple companies. It is alright, but if something goes south, you might have to put a hold on it for days or weeks between the construction phases. On the contrary, a turnkey construction project is better for timeline management. Various project stages can overlap because the same contractor executes them. There is little to no delay in the project, so it can significantly improve the probability of completing the construction project in the specified time.
Factors to Consider in a Turnkey Project: Fixed Price
Turnkey building projects have some price predictability, which may please you. As a result, there are little to no cost changes as the project advances and the overall expenses of designing and carrying out the building project is fixed. As a result, you may develop your turnkey construction project more confidently and produce a more precise budget.
Factors to Consider in a Turnkey Project: Fewer Management Problems
Construction projects that are sourced to multiple companies at the same time can become problematic in the long run. First of all, the project owner needs to manage multiple contracts simultaneously, which can be stressful and tiresome. Secondly, the engineering drawings may not reflect the needs of the project owners. This might require creating additional drawings, and the entire project might be delayed overall.
On the other hand, turnkey projects leave no room for inconsistencies between planners, engineers, managers, and workers. Everything is done by the same team right from the beginning, so there will be little to no delays when it comes to the stages of your project.
Here at Kibitec, we strive to deliver exceptional building and framing services to our clients across Malta. We understand that turnkey projects can be challenging, so that we can lend you a helping hand.
Contact us directly to learn more about factors to consider in a turnkey project, how to design an optimized one, and get the most out of your investment.
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