R.W. Hyde: Redefining Refit


GENERAL CONTRACTING
Advantages:
Competitive bids for the owner and a clearly defined scope of work.
Disadvantages:
Time needed to provide documents and potential for cost overruns if documents are incomplete.
DESIGN-BUILD
Advantages:
Lower fees for design, an accelerated permitting process and fewer cost overruns/change orders.
Disadvantages:
Higher risk taken on by design-build contractor and requires a higher level of trust between the owner and the design-build contractor.
CONSTRUCTION MANAGEMENT
Advantages:
Engages the contractor early in the design process. Allows the owner to concentrate on their core business.
Disadvantages:
Higher risk taken on by design-build contractor.