Wednesday / January 25, 2017 / 8:30 AM - 10:00 AM
Understanding the Volatile Construction Market in the 2015 – 2018 Rebound
AIA Chicago, 35 E. Wacker Drive, Suite 250
Current economic trends influencing construction costs will be discussed from a global, national, regional, and local
level. Indicators for major construction sectors will be projected through 2020 to illustrate the key risks facing
owners / architects. Contributing factors affecting escalation will be examined as well as the impact escalation can
have on different project types.
Differentiating between Cost Management and Cost Estimating, this course describes the merits of using Cost
Management as a design tool to maximize efficiency and improve performance in volatile and rebounding market
conditions.
Learning Objectives:
-Describe the many influences and factors of the current economic climate which are causing construction costs to increase (global, national, regional, local).
-Describe how escalation affects construction costs and what consideration should be given to escalation costs in current construction budgets
-Describe the differences between Cost Management and Cost Estimating as they relate to design and construction.
-Define specific advantages of utilizing Cost Management in addition to Estimating to the Architectural/Engineering Design process.
Speakers:
Daniel Pomfrett, MRICS | Regional Director
Daniel brings 20 years of industry experience to Cumming and is a member of the Royal Institution of Chartered Surveyors (MRICS). Currently, Daniel leads our Chicago office and is primarily responsible for servicing the company’s Midwestern clients. His focus includes libraries, museums, cultural centers, sports facilities, and historic building projects; he also works in the federal, higher education, healthcare, and hospitality markets. Daniel is currently providing cost management services for the phased renovation of Wrigley Field, one of the most historic sporting venues in the United States.
Choudhry Muzzafar, RICS | Director, Business Development
Choudhry has 13 years of real estate experience, which includes working domestically in the Chicago area and internationally in the Middle East. Over the course of his career, Choudhry has advised or led the development of more than 3 million square feet of real estate assets covering a variety of building types, including office, hospitality, retail, residential, and mixed-use. A highly engaging communicator, he currently leads business development efforts for Cumming throughout the Midwest. Choudhry is a graduate of the University of Illinois and a member of the Royal Institution of Chartered Surveyors.
Light breakfast provided by Cumming.
