Top Key Elements for the Success of Turnkey Interior Solutions |
Posted: August 30, 2018 |
Top Key Elements for the Success of Turnkey Interior Solutions The development manager or the turnkey solution provider holds the responsibility of turning over the project once it is completed in all aspects. From start till the end process, everything related to development, designing and decor is undertaken by the turnkey solution provider, and he turns the key to the real owner or operator on completion. The turnkey solutions in Dubai are quite common in projects related to building construction, from single premises to large-scale development arrangements. The payment amount of the turnkey project is decided as a lump-sum contract which is payable by the owner to the turnkey service provider as per the terms of the agreement. The entire project is managed under the guidance and desire of the owner. There are several key elements which are responsible for making the turnkey interior project successful. Let’s take a thorough glance over it - 1. Project Management - Due to the complexity and magnitude involved in the turnkey solutions, there is a need for effective management of the service providers, subcontractors and the government agencies. For running the project smoothly without and intervention, there are several approvals requires as well in some cases which can be handled by a proficient project management team. The basis of a successful turnkey project is the budget and schedule compliance along with its capacity to fulfil the owners’ specific requirements. Hence, the project management is the first element that decides the success or failure of the project as it involves the controlling of cost and progress components. 2.Risk Allocation - The involvement of risk elements in the turnkey interior services is quite higher as compared to the simple construction services. There are various solutions which are comprehensively undertaken by the turnkey service provider and each one of them involves risk and uncertainty. Hence, the developer has to assume higher risks considering the unseen eventualities so as to accomplish the project in the best way. 3.Cost Estimation - Budgeting is the most essential element which has to be given more focus and consideration in the turnkey interior services. There is a huge involvement of personnel working on the project who have their own cost requirement. On the flip side, the variety of solutions and materials are there under the turnkey project which cost differently. Hence, making cost estimation is a necessity so as to keep a check on the entire budget. 4.Cost Flow Management - During the course of project completion, the turnkey service provider has to make various payments in the day-to-day processes. The operation cost has to be managed adequately so as to adhere to the budget. There is a necessity to have the cash flow management to meet the construction costs until the entire payment is received. These are the key elements which are to be considered for the successful accomplishment of the turnkey interior services. If you too want your turnkey projects to be successful, then you must adhere to the above-mentioned elements.
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