Why Forecasting Beyond a Project End is Important

Risk forecasting is an important part of any commercial construction endeavour. However, there is a chance that forecasters focus heavily on the start of the project, at the expense of the period after completion. There are multiple reasons why it’s important to provide a comprehensive forecasting service that forecasts beyond the end.

Why Forecast Past the Project Completion?

While a commercial construction firm typically has limited involvement with the project beyond its completion, the client’s involvement is visceral and ongoing. Commercial builders are in the business of pleasing clients, so the concerns of clients should also be shared by commercial builders. Forecasting past the end demonstrates that the commercial builder has empathy for the long term fate of the project. This surely delivers clients real peace of mind.

Exactly What Can be Forecast Past the Project End?

Estimators can forecast past the end of a project simply by taking a longer view. Rather than forecasting only what will occur during the development and construction phase, estimators can look at different factors that may impact the time after delivery, such as the movements of interest rates and the impact of supply and demand cycles on the project.

Who is Forecasting Past the Project’s End?

Forecasting past the end is still in its infancy in the commercial construction industry, so it’s something that commercial entities should negotiate with their construction firm. Through a conversation with the builder, you can to determine whether this service is offered. At TPM Builders, we pride ourselves on our risk forecasting services, and we’re happy to consider forecasting past the end. Call us on 1300 733 891 to learn about this and other property services. If you’re preparing to fund a commercial construction project, make sure the commercial builder takes a comprehensive approach to risk forecasting and forecasts not just the start of a project but also the period after its completion. Image via Flickr by manoftaste.de