Constructions as Project Management

The undertaking of construction with "Project Management” includes the following stages:

1. Preparation of a detailed budget by GMG constructions, where instead of fixed price, there is the Maximum Guaranteed Price (M.E.T.). From our side it does not mean exceeding the M.E.T. unless there are changes in materials and method of construction. In case this happens there will be complete documentation to the customer and at the same time proposals to cover possible overruns from future work.

Prices shown in the budget no longer include:

  • Profit
  • Unforeseen
  • Labor costs (cleanliness, etc.)

 

2. GMG constructions creates a Google Sheets account – so all data is visible to the customer – which includes:

  • All project measurements
  • Budget
  • Budget Payments.

 

3. Every 15 days GMG constructions prepares a Payment Order which is sent to the customer for payment or the customer pays GMG Constructions and GMG Constructions pays on his behalf.

 

4. Before each payment from the customer, GMG constructions collects all the invoices which will be in the client name – and saves them in the account in a Google Sheets worksheet.

 

5. After each payment GMG constructions updates the Budget and at the same time stores all measurements made on the Project.

 

6. GMG constructions invoices a percentage (%) as a fee for the Management Project.

 

7. Throughout the above process, there is the possibility of executing a Job Change Order (UAE), which is agreed with the customer, is signed by both or more contracting parties and is executed.

 

Responsibility of GMG constructions

  • Adherence to an Agreed Schedule
  • 5 year guarantee
  • Monitoring of procedures for Employee Insurance (IKA)
  • Adherence to procedures for final connection to Utility Networks

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Construction Methods Comparison

«Turnkey» “Project Management” (P.M.)
Locked Budget Maximum Guaranteed Price (M.E.T.) – Variable Budget
5 year Guarantee 5 year Guarantee
Possibility for a Job Change Order (UAE) Possibility for a Job Change Order (UAE)
Guaranteed Schedule Guaranteed Schedule
Observance of I.K.A. Procedures Observance of I.K.A. Procedures
Adherence to Procedures for connection to Utility Networks Adherence to Procedures for connection to Utility Networks
Less bureaucracy for GMG constructions More bureaucracy for GMG constructions
Minimum Budget Risk for customer Theoretically higher Budget risk for customer
Daily budget monitoring for the benefit of GMG constructions Daily budget monitoring for the benefit of the customer
Biggest Budget Risk for GMG constructions Less Budget Risk for GMG constructions
Theoretically (not guaranteed) higher profit for GMG constructions Less guaranteed profit for GMG constructions

Construction Methods Comparison Graphic

Turnkey” (T.K.) Project Management” (P.M.)
Guaranteed Budget and Unit prices

 

Maximum Guaranteed Price (Μ.E.Τ.) without unit prices guarantee

5 years Guarantee

Guaranteed Timeline

Adherence to Employee Insurance (IKA) Procedures

Adherence to Procedures for connection to Utility Networks

Cash Flow Chart

Budget Risk for the client

Budget Risk for GMG constructions

Daily monitoring

Profit for GMG constructions  

(>)

 

(<)

Scale Economy for the client

Trust Level

As you can see from the above charts we have highlighted the trust level with green. Having a project in Greece the most important factor is to find people who you will trust.

It’s a matter of choice…

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