The last stage of a development project is the project closeout. Everything from the final pour to the final signatures is involved in this stage, so we figured that we ought to do a post highlighting the more valuable aspects of this process.
Listed below are the steps of a commercial development project’s closeout on the North Gulf Coast for success in the final stage.
From planning to post-occupancy is our series for developers to learn strategies that will carry them through the four stages of a commercial development project: planning, design, construction, and closeout. If you are a developer on the North Gulf Coast, you may find the rest of our series of use as well.
Follow the shortcuts:
The validation of your structure’s construction is so, so important. Your brand and your wallet hand on the fact that any post-occupancy litigation won’t land on you, so a complete assurance of the correct implementation of the construction documents is priority number one. Having the architect, engineer, reviewers, and the contractor all sign off at the end of a project well-done is the best assurance that one can have. Failure to assure oneself that the project was completed successfully is a grave mistake, and one that will cost a developer dearly.
Closing the contracts
As with the review of the contract, ensuring that the details of the contracts were upheld and finalizing their payments are what comes next. Keeping track of all of your dealings through to this point and documenting any payments, amendments, etc, comes as a great use to this step. If all has been done correctly, then there’s not much more to say on this point. If there have been errors, documentations of your dealings with the related agencies will help you sort them out.
The project book
The project book that you assemble will be used by the property manager for decades to come, so ensure that all of the relevant information and optimized maintenance records are included.
Many property managers are leaning closer to obtaining a digital version of the project book, complete with the building’s renderings. Digital versions of maintenance and warrantee records are much less tedious than paperwork, so this is a boon for everyone involved.
Project closeout is the last leg of this race, and we hope that until now everything has gone smooth and your success is imminent. If there were problems during this process, please join us in the final post in this series that covers errors in the hindsight of a project and how to fix them for the next time.