Fast Track construction is a process where construction begins before design is complete. Naturally, this requires a close working relationship between the owner and the construction manager, but the benefits of early occupancy can be substantial.
As the name implies, the fast track process produces earlier occupancy than the traditional design-bid-build process. The primary benefit can be summed up by Benjamin Franklin, who astutely pointed out that “time is money.”
In a rapidly changing economy, new technology, product development and delivery methods emphasize the importance of speed to market, so the ability to expedite the opening of a new production line, or a new distribution center, can create a distinct competitive advantage. In addition, rapid delivery of a facility makes the capital expenditure productive sooner, which also lessens financing and carry costs.
The fast track process is a logical progression that follows a linear process, so early decisions will direct the course of the project. This requires an owner’s representative that has a clear understanding of the goals for the project, and is empowered to make decisions, as changes to the scope of an accelerated project have the potential to cause backtracking and unanticipated change orders, which can eliminate the ability to deliver the project early.
Keys to Success
The keys to a successful fast track project lies in communication and collaboration, as well as a construction partner that is well versed in the process and has a history of success with similar projects.
Paul Hemmer Company has been managing fast track projects for more than 50 years. Call us if we can be of assistance.