Why your capital improvement project needs an Owner’s Rep
Last June, First Internet Bank kicked-off construction on a new corporate headquarters in downtown Fishers’ Nickel Plate District. The six-story, 168,000 square foot mixed-use building with first floor retail is expected to be completed and ready for occupancy in the fall of 2021.
How does a recognized leader in branchless banking--a company focused on expanding operations and achieving a comprehensive strategic growth plan--take on such a transformational capital improvement project successfully?
They hire an owner’s representative. They hire Envoy.
Many organizations do not have the internal resources to ensure the successful execution of project schedules, efficient coordination of construction partners, or mitigation of costly budget mistakes and look to owner’s representatives to offer the technical expertise to complete projects on time and under budget.
The owner’s representative acts as an extension of the organization’s internal team and is separate from construction managers or general contractors. The owner’s representative role is different. Here’s how:
Overall Project Vision. The end goal of the owner’s representative is the successful development of a high-quality finished project. They manage the day-to-day operations of project design and construction while maintaining the overall expectations regarding timeline and budget. As enforcer of the end goal, an owner’s representative ensures that contractor deliverables are met throughout the life of the project and that any variation in the process is communicated in a clear and transparent way.
Leadership. An owner’s representative should have extensive project management experience and offer a direct line to key insight when needed. It is the representative’s job to know which questions to ask, present all options while facing project challenges, and thoughtfully guide the owners in making informed decisions.
Advocacy. As an independent deputy, an owner’s representative is tasked with protecting the owner’s investment throughout every stage of construction. Working with project partners, the owner’s representative ensures that work being done in the best interest of a completed, high-quality project is the top priority.
Envoy has navigated each of our partners’ construction projects as if it was our own high stakes investment and is proud to help companies like First Internet Bank create transformational capital improvements. With more than $1 billion in managed construction projects and an expert development acumen, Envoy is the experienced and well-known partner your organization needs.
Embarking on a construction project? Contact us to learn more about our owner’s representative services today.