Various unwelcome situations can occur during the implementation of a construction project. Undesired circumstances such as extreme weather events, industrial accidents and technical failures, can cause significant damage to a project, varying from delays, extended costs and changes, to even complete cancellation. Whether it is a severe storm, a site-specific fire, or the loss of…
Good construction management is the process by which a project is brought to a successful conclusion. But without a good construction manager, even a well planned project can fall apart fast. Construction managers are responsible for overseeing a project by applying knowledge, skills, tools and techniques to project tasks and activities to meet the project requirements.…
In this post we outline key financial components that should be analyzed and assessed to properly prepare an operating budget for a commercial property. This is no easy task, and certainly not for the faint-hearted. It is, however, a standard and fundamental process that is generally conducted on an annual basis for commercial property. In…
Although common area maintenance (CAM) charges are a routine element in most commercial leases, their terms can vary significantly. To execute an accurate annual reconciliation of these expenses, there must be a comprehensive understanding of this process and its components. This may seem like common knowledge, but there are crucial practices that can be overlooked…