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After receiving Congressional funding for their projects, GSA ascertains and tracks information on various topics that may affect construction costs. In assisting GSA, OCMI gathers and analyzes a variety of data points and information from a wide selection of sources, including industry-leading contractors and subcontractors, local business leaders, architects, engineers, and others.
To further assist GSA in making informed design and construction decisions on their projects, OCMI’s market studies provide GSA with an all-encompassing and clear picture of the national and local construction markets.
• We evaluate overall market conditions and projections of future growth trends.
• We review projects in progress or projected to be in progress during the period of GSA’s project construction, to determine the availability of labor and material resources.
• We interview local A/E/C industry professionals to identify market sector factors that could influence the overall cost and schedule of the project.
• We observe the physical site of the project to determine accessibility, mobility, and other related items.
• We analyze the capacity of local and regional contractors (both large and small businesses) to bid on the project.
• With this information, OCMI develops and documents our understanding of the existing markets and expectations at the time of the project’s bid through construction.
Ultimately, our market studies conclude the overall escalation of construction costs throughout the project’s anticipated period of performance.
A unique and successful component of this project was the utilization of “The Big Room.” The Construction Manager, General Contractor, Inspector, and Subconsultants were housed under one room with an open concept during construction. This innovative approach allowed for the project team to save time and eliminate misdirection by obtaining instant answers on issues and concerns that arose.
Because of these historical and unique factors, OCMI incorporated in-depth, local market studies and coordinated closely with the architect and owner to deliver cost estimating and scheduling services for the $25 million renovation.
Throughout an iterative, seven-step process, OCMI conducted market studies and outreach to the construction industry and subcontractors for feasibility and pricing. We factored in unique project considerations, such as its location (adjacent to The White House), moratorium planning (area closures), as well as extensive planning requirements. We also assisted the Smithsonian Institution with pricing and identifying multiple alternatives of varying scope.
Because of OCMI’s efforts, the Renwick Gallery project was bid less than a 1 percent variance from our estimate, and the CPM construction schedule was adopted and confirmed.