Colonial is developing the Refurbishment Project of the Office Building, located at 31 Sagasta Street, Madrid. The Project, designed by the Cushman & Wakefield /Úrculo Ingenieros team, consists of the refurbishment of an office building in the CBD of Madrid with 7000 m2 built above ground level, distributed over 5 floors, as well as 2 floors of underground parking. It is currently in the development phase of the basic project and additional documentation for the management of licences. In June, the dismantling works are expected to start and the contractor will be awarded, through a collaborative process for the development of the EP and subsequent execution of the work. Colonial incorporates CORE’s Target Value Design methodology from the Concept phase through to budget closure at the start of the work in order to adjust the design against the target budget.
CORE incorporated the aspects of its C2R System for Lean Project & Site Management implemented in the Project:
i. Implementation of Value Engineering processes from Concept, through tendering phase, to the closing of the execution project price for the realisation of a project against cost,
ii. Signing and subsequent management of a collaborative contract with risk sharing in the design development phases between the Developer and Contractor,
iii. Implementation of a weekly communications and task management system integrating all project stakeholders under the Last Planner® System methodology in the pre-construction phase.
These improvements over the usual project management systems are intended to contribute to the cost savings and optimisation of deadlines experienced in the Project, as well as an early management of the changes required by Colonial.
