Capital Program Management provided services to both the owner and lender through owner representation and construction funding monitoring. Kennedy Galvanizing project included a new steel galvanizing plant and offices on an undeveloped 24 acre site. CPM was initially engaged by the lender to review the owner’s construction program, and CPM found various scope gaps and irregularities in contractor proposals that could result costly change orders, schedule delays, and quality concerns. The owner realized the value of hiring CPM as its owner representative to develop a thorough construction program to ensure the project’s success. CPM coordinated the pre-construction process through management of design teams, defined scope with contractors, and verified the construction and program budgets through detailed cost estimating exercises. CPM gave the owner a firm foundation to begin construction, at which point, CPM remained involved as a construction monitor for the lender in reviewing owner/contractor draw requests and project schedule. In the end, CPM brought definition and new life to a project in peril, and in turn allowed the owner to focus on running its core business.
Project Cost: $2.75 million
Project Size: 20,000 SF industrial galvanizing plant and associated offices.
CPM Services: owner representation, program and scope refinement, estimating, lender risk mitigation.
