CHAPTER A
Us, who dare to dream and perform innovations or renovations of buildings, we had to find first the answers in the below topics.
What? What kind of building and what’s the purpose of its existence?
How? How am I going to make my dream come true?
Who? Who can help me design and turn my dream into reality?
How much? How much will it cost me? Would I be able to pay off?
When? When would I be able to see profit? Numerous technical and licensed by the competent authorities’ projects in Greece and abroad, are languishing in the drawers of their investors! Why?
No one made sufficient effort to ensure the feasibility of their execution before rushing into their construction and implementation. No one thought it would be preferable to answer the above questions before starting a project!
So, one technical project. Five questions. One answer. IMPLEMENTATION STUDY Implementation Study used to be absent from engineering projects as it has been surrounded by two urban myths which we are able to refute anytime: "You don't need an implementation study", "We know how to do that". Well, the truth is that the contractor is aware of the architectural plans. Although, he doesn’t know the best way, the cost, and the time of its execution! Counting just on those paper plans and instructions feels like we are stuck on the past. Actually reminds us of the way that people were used to travel back in time, using those map brochures, without having additional option to propose them the fastest or easiest way through or an additional direction which will save them an efficient amount of fuel emission and time! In a similar way, the investor with his partner engineer start the execution of the project by just using the provided architectural plans, not knowing the actual cost of the construction, the demand and prices of building materials or the unexpected issues that will may come up. In the absence of timeline nor the investor can follow up with his project and manage his financial resources, nor the engineer can ensure a complete result or predict any losses! In the end, they are more likely to fail! That’s how most of the project never come to reality and investments are called off! "The Implementation Study is indeed the best possible solution; however, it is very expensive.", "A luxury!"
The Implementation Study has zero cost for the investor. Moreover, we can undoubtedly declare that is the most efficient method of saving resources, as the investor can be informed from the beginning about the total cost, to adapt and remodel it according to his financial resources and to be assured in overall that he will be able to see his projects in flesh and bones! Still not convinced? Well maybe numbers will persuade you! According to statistic research findings, without the existence of Implementation study, the construction cost will eventually end up being 30% higher than the given predicted budget. Let’s say that prediction requires 1.000.000€ so the investor could successfully deliver the project. That 30% we referred, will create the need to funding another 300.000€ to complete the project. Wil that be easy for the investor? Would he be able to fill this gap in time and not postpone the process? Wouldn’t that create an inside crisis in investment’s outcome? In addition, if the aforementioned investor had obtained an Implementation Study in partnership with specialized Engineers, it would exclude the possibility of exceeding the budget, reducing that rate in 10% (in fact, any shortfall would be limited to between 8%-10% due solely to unforeseeable events). That prediction gives the opportunity to the investor to know the exact cost of his project. Reviewing this example, it becomes clear that by obtaining an Implementation Study for a project of 1.000.000 €, the investor achieves:
1. cost saving up to 200.000€, which is an overall profit of the investment earned by the above-mentioned study 2. quality of construction, as the cashflow will be determined and arranged according to the phases of the project 3. timely delivered project, as the implementation study creates a safe environment for developing custom business plan and presided measurements and calculations shrink failure rate Therefore, numerous of our clients and we, as a company, can answer to those questions efficiently and precisely and suggest as also perform with no doubt the Implementation study for your project! Dare to dream big!
MORPHO DESIGN IKE Author: George K. Kotantoulas Supervisor: Evgenia V. Thomopoulou