From six months to unexpected tenure, delay of real estate projects has become a serious issue. While there are a plethora of reasons for these delays, improper planning, and ineffective execution remains the core concern.
Taking the cognizance of the current market scenario where the inventory pile of the long-delayed and stalled projects is increasing YoY, homebuyers have shown a marked shift in their buying preferences from under-construction units to ready-to-move inventories. With construction delays remaining the biggest fear amid buyers, it is imperative for builders to best tailor these issues and reinstate buyer’s faith in the market.
There are many reasons that lead to delay in the construction process, resulting in growing expenses, and infringement of regulations and customer displeasure for a real estate builder. However, an effective methodology could be a potential way out to avoid any sort of delay.
Here are five effective ways that can help avoid unnecessary delays in construction projects:
- Understand client’s needs:
It is important to establish a relationship with the client to efficiently satisfy their requirements. Have a change management plan in place so that there is a system for requesting and approving changes.
- Schedule contractors in advance:
Determine what contractors you will need ahead of time. It’s hard to get contractors at the last moment, making it essential to plan in advance. Hence to prevent delays, it is essential to plan all the contractors in advance.
- Sincere participation during designing:
It is indispensable to have an understanding of every stage of the project. However, involvement during the design phase can help fix any possible errors before the project reaches the final stage.
- Detailed planning:
An exhaustive construction plan includes details that are required to complete the project on time such as a clear timeline, finalised drawings, and prior communication with critical subcontractors. A successful plan also takes into account the possibility of unforeseen circumstances.
- Improved management methods:
Most projects suffer delays and failure because of incompetent managers. The job of a construction manager is to assign roles within a project and coordinate labour and materials so that work can get done in a timely fashion. A good manager can multitask and efficiently remove all the hindrances that might be delaying the project.
On the whole, with proper planning and the right execution the real estate activities, one can best handle construction delays and can offer the project within the stipulated timeframe.
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