We understand that accurate estimates are critical to the planning and decision-making process, and cost control is a continual process extending over the entire duration of the project. We have track record of being within 2% of budget on over $600 million of recent work. Regency is also a General Contractor which further enhances our ability to understand the market, current construction costs, labor capabilities, and the sub-contracting community.
Our estimates are developed internally by our staff of 4 estimators whose primary responsibility is to produce timely, accurate cost information on all of Regency’s projects. All disciplines of work are estimated in-house including mechanical, electrical, plumbing and fire protection estimating - a capability unique to Regency.
As an active member of the project team from the early stages of design, our estimators immediately begin working with the designers, engineers and end-users to affirm the project budget. From there, we develop estimates at each stage of design including:
As the project progresses through each phase of design, information from the architect and engineers becomes more detailed allowing the estimates and cost information to become more accurate. Our team is continually reviewing the drawings at each phase to determine what might be missing and what we might assume will be coming later as the design is further defined. We collaborate with the entire team to determine the true, complete scope of the project to reduce cost surprises as the project nears bidding and construction.
Time = Money and Regency believes that scheduling works hand-in-hand with estimating. Our strong belief in this is why Regency has a dedicated scheduling staff in-house. We focus on establishing a logical and attainable plan to achieve the project goals. Our schedulers work closely with all team members to produce a road map of activities with task-specific accountability. Once the schedule is established, it is monitored monthly to provide the team with a reflection of progress and to identity any refinement required due to new information.
Regency Construction believes in arming our clients and project management teams with as much accurate information about their building project as possible. A thorough review of current construction documents and approved budgets is a significant part of schedule development. We focus on coordination of team disciplines, resolving conflicts, and planning a viable construction approach prior to construction.
Success of any project is a measurable goal that we believe is supported by accurate baseline and schedule update information. With accurate information Regency will produce productivity indices, progress charts and custom status reports. In addition, if a portion of the construction is behind schedule, Regency helps identify the causes and performs analysis to suggest work around logic revisions or resource based remedies to mitigate the delay.
As the schedule is developed and maintained, our schedulers will continuously review and validate at the following items:
Building component construction and installation
Cash flow projections
Long lead item procurement
Potential weather impact
Owner move-in / Need dates
Putting a Builder’s Eye on Design to Review Completeness, Interdisciplinary Coordination, Find Gaps or Gray Areas to Lessen Downstream Clarifications or Change.
Every design effort benefits from the in-depth review our team conducts on documents. Having conducted hundreds of constructability reviews on tens of thousands of design documents, we find on average, five to seven issues per drawing due to the lack of clarity and/or incompleteness of drawings, missing or missed labeled details, or the lack of coordination between disciplines. Our proactive and pre-bid constructability review efforts have the potential to eliminate requests for information during the construction process and often staves off potential changes which result in added costs to the project. Our seasoned team of reviewers pays for their efforts numerous times...and as the saying goes "An ounce of prevention is worth a pound of cure."