Whether or not to undertake a commercial or industrial construction project is a crucial business decision for a company. Such an initiative will have an impact, especially on productivity, the work environment and customer relations. In short, it will affect the way a company evolves and the success of its business. Knowing how to reduce the risks and taking control of the outcome is essential. The experts at CIBS Group have the skills and experience to guide you and provide answers to essential questions:

What are the underlying risks of my real estate project?

Undertaking the acquisition, construction or renovation of a building without thorough planning is, without a doubt, the biggest cause of dissatisfaction, delays and increased costs.

Rushing through steps or starting out with an ill-defined vision of the project causes the risks to increase alarmingly: market developments can be poorly anticipated, the wrong location selected (possibly adversely affecting business), costs underestimated, etc.

It is important to have an experienced specialist validate the approach and carefully examine every aspect of the project to ensure its success and boost the confidence of potential financial partners.

Is this the right time to invest in a commercial or industrial real estate project?

It will not be possible to determine the right time to spring into action until clear objectives have been set; the financial, social and commercial issues and risks have been identified; and the evolving nature of the project has been analyzed. You have to remember that the scope of such a project could hinder commercial operations while the work is being done, or even reduce foot traffic.

Every possible scenario must be considered. If required for whatever reason, you have to have the courage to cancel or postpone the work. Our experts suggest moving forward only if the interests of the company or business are safe.

Would another solution be more appropriate?

It is very fulfilling and even exciting to embark on a real estate project. But remember that this is a business decision that must generate positive results for the organization.

Maybe it would be better to renovate than to build. In some situations, the best decision would be to rent rather than buy. Would it be better to acquire new property and dare to sell the one you have? These are all things to think about and analyze to help you make the best possible decision—the one that will help your organization's business really take off.

Is managing your commercial or industrial real estate project yourself really an option?

It is certainly possible to manage your construction or renovation project yourself. However, you have to realize that such an undertaking requires a considerable investment in time, given the speed with which decisions have to be made, as well as a wide range of skills. At the same time, business activities have to go on as normally as possible for both employees and customers. Managing a real estate project is not a part-time thing.

Unless you have proven skills in the area and are able to delegate business activities, it is more cost-effective and comforting to place your project in the hands of experienced specialists who can truly devote themselves to it. Completing the project on time and on budget will depend on it.

What should I expect from a good project manager?

A good project manager should have solid experience in the field if he hopes to have any credibility with work teams. He should be capable of quickly making decisions and have good communication skills. He should also be meticulous and able to think ahead. His duties include:

  • Planning, controlling and providing a general direction for the project as a whole
  • Establishing the project schedule, defining tasks and monitoring the schedule and the progress made on established tasks
  • Identifying and managing issues and risks associated with unforeseeable situations on the job site
  • Liaising with the client
  • Serving as the go-to person for subcontractors
  • Holding job site meetings with subcontractors on a regular basis
  • Assuming responsibility for sourcing products and services
  • Seeing to the project's success in the launch, planning and closing phases as well as in the production stage
  • Examining suggested changes and assessing their impact on the project schedule and costs
  • Achieving the project's established goal on time and on budget

• Can I choose the subcontractors that will be assigned to the project?

Some contractors prefer to support subcontractors they know or with whom they already have a good relationship or who operate in their region. CIBS Group makes sure the subcontractor in question is invited to respond to the tender call. The subcontractor's bid is evaluated the same as every other bid received. Note that CIBS always requires three bids for each work category.

Similarly, the team at CIBS can work with a client's own professionals and coordinate the labour.

Can I choose the subcontractors that will be assigned to the project?

Some contractors prefer to support subcontractors they know or with whom they already have a good relationship or who operate in their region. CIBS Group makes sure the subcontractor in question is invited to respond to the tender call. The subcontractor's bid is evaluated the same as every other bid received. Note that CIBS always requires three bids for each work category.

Similarly, the team at CIBS can work with a client's own professionals and coordinate the labour.