NEW YORK--(BUSINESS WIRE)--Sep 10, 2019--
Construction guru Barry LePatner announced today that he has expanded his highly successful construction advisory and project management practice into a new consultancy, Insights+.
To counter the plague of cost overruns and delays that affect 98% of all large projects, Insights+ offers a practical yet sophisticated program designed to insulate owners from the risks inherent in the design and construction process and ensure that they fall within the two percent whose projects come in on time and budget, saving them millions of dollars.
Insights+ combines the best of Project Mapping, Building Information Modelling (BIM) technology, and Project Management services. With most project budgets within the $1.5 trillion construction industry averaging $10 million to $100 million, Insights+ helps owners regain project control and oversee the thousands of decisions, big and small, involved throughout the construction life-cycle.
“Approximately ninety-eight percent of all construction projects in the U.S. run at least thirty percent over budget and deliver more than six months late, validated by a recent McKinsey & Co. report,” says LePatner, CEO of Insights+ and author of Broken Buildings, Busted Budgets. “Insights+ helps owners ensure that design and construction team members complete a dedicated scope of services that reduces owner risk and sets standards that make each project adhere to their initial budget while maximizing profits.”
Insights+ begins with project mapping, wherein details of the entire project—from acquisition through approvals, design, and construction—are identified, starting with careful due diligence in the selection of the architects, engineers, and contractors (A/E/Cs), thus setting the tone early about who is in charge and serving as the project compass.
Then, optimizing BIM technology, the A/E/C team carefully conducts a review of the details inherent in each area of the entire project, floor by floor, room by room, utilizing complete and coordinated design drawings from which the contractors can develop a true fixed price which cannot be exceeded except for scope increased authorized by the owner.
This BIM-vetted process reveals any cases where ducts smack into columns and beams, and other critical elements of the design, allowing the design team to make any necessary changes before construction commences, thus preventing dozens of costly change orders commonly needed to fix avoidable mistakes.
Critical to success, the thorough due-diligence of the Insights+ methodology produces a true fixed price for the entire project, along with a guaranteed date of completion, regardless of project type or scale.
Each A/E/C team member is then assigned specific tasks and deadlines, with a process to provide complete transparency and accountability—enabling owners to track progress at every level in real time across the construction life-cycle. The program tracks the tasks of each subcontractor to ascertain on a weekly basis if any are behind schedule and whether products have been back-ordered and when they will be delivered.
“Most owners have accepted the false premise that construction projects are fated to deliver late and massively overbudget,” LePatner says. “Even though owners are ultimately responsible, they have abdicated control of their projects to the A/E/Cs over crucial issues impacting their final cost and schedule because they didn’t have a system to manage the process. Now they do.”
The Insights+ team has created a robust methodology to give control back to owners and help them avoid the most painful conversations.
“Don’t be part of the ninety-eight percent willing to accept the staggering waste and mismanagement rampant throughout the construction industry and forced to go back to their lenders and partners asking for more money—and explaining why,” LePatner says. “Owners can enter the 21 st century world of technology, data, and advanced metrics, secure more control over the well-known inefficiencies of the industry and be part of the two percent. It’s one club Owners will be thrilled to join.”
Insights+ is a national construction advisory firm founded by Barry B. LePatner, Esq. Mr. LePatner, who has been identified by Governing magazine as “the guru of construction reform in America today,” is prominent as an author and advisor on business and legal issues affecting the real estate, design, and construction industries, and is widely recognized as a thought leader in the construction industry. He and his team have recently worked on numerous successful projects, including Tiffany’s SoHo Manhattan location, the award winning NYJLT tennis center in the Bronx, the APS headquarters on Long Island, and the Four Seasons restaurant, and among others.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190910005945/en/
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PUB: 09/10/2019 12:46 PM/DISC: 09/10/2019 12:46 PM