What are common methods for managing design of capital projects?

The method of managing the design of capital projects through the approach of using the lowest bid, construction manager/general contractor, and design/build is recognized as common and effective.

In the lowest bid approach, projects are awarded to the contractor that submits the lowest price, which can foster competitive pricing and adherence to budgets. However, this method emphasizes cost considerations, and there can be risks associated with quality and timeliness.

The construction manager/general contractor (CM/GC) method involves a construction manager who is brought onto the project early in the design phase. This allows for better collaboration, input on cost-effective solutions, and risk mitigation as the project develops.

The design/build method streamlines the process by combining both design and construction into one contract. This can lead to improved communication, efficiency, and collaboration between designers and builders, potentially reducing disputes and delays.

Each of these methods has its own advantages and can be selected based on the specifics of the project, the desired outcomes, and the nature of the stakeholders involved. This multifaceted approach to capital project design management allows for a more dynamic and responsive project execution process, thereby enhancing the likelihood of meeting project goals in terms of budget, quality, and schedule.