What Is ‘Open Book Contracting’ And Why Is It Important In A Construction Project? On Telescoconstruction.com

What is ‘Open Book Contracting’ and Why is it Important in a Construction Project?

Learn about the advantages of transparency and what it can mean for you and your building

One of the keys to a successful construction project is planning. Once your idea for a building has gone from a dream to a possibility, it can be tempting to want to get things moving as quickly as possible. But often, this is how mistakes are made. While you are of course anxious to see your building up (and generating you money), a clear and concise plan is vital to getting quality work done on time and within your budget.

This is why it pays – in more ways than one – to hire a design-build firm for your project. Because a design-build firm utilizes everyone who will work on the build, planning is simplified. When the designers, architects, and contractors can all work together from day one, this makes the process very smooth. Communication is one of the biggest factors in the planning stage of a construction project, and this is an area in which a design-build excels.

Part of our design-build firm’s commitment to communication is a policy of open book contracting. This principle means that there is complete transparency about the budget and all costs and schedules, at every step of the way.

The benefits of an open book

Earlier completion time

Open book contracting allows for a phased schedule, which means that a project will be completed faster. Using a stepped permit process, the design and construction components can begin working at the same time.

Cost reductions

Knowing how much things cost from the beginning creates more accurate budgeting and allows expenses to be cut in certain areas or allocated elsewhere. Plus, because the work is sped up, this means that the building will be up sooner, which will result in fewer project overruns, earlier occupancy, and, in many cases, enhanced revenue.

Fewer surprises

During a construction project, there’s nothing worse than getting caught off guard with unexpected expenses or issues – especially when they cause significant delays while looking for a solution. Open book contracting is instrumental in ensuring that those surprises are kept to a minimum.

Open book contracting and much more from Telesco Construction

When you choose Telesco Construction for your project, you’ll have a design-build firm working for you that has experience with many different types of buildings, including residential, commercial, and government facilities. Our team streamlines the entire process to make everything as efficient and easy as possible.

Not only does our process help you save time (and often money), but we’ll make sure you stay in the loop, from the first designs until the doors open. This is why we utilize open book contracting to ensure complete clarity about every aspect of the process.

No building is created overnight, but with Telesco Construction, yours will be designed and constructed on time and within your budget, with as few issues as possible. To learn more about what we can do for you, call us at 305.390.0250, send us an email at info@telescoconstruction.com, or just fill out our contact form.