Issue link: https://construction.trimble.com/en/resources/i/1522167
3 Guide to Different Construction Procurement Methods | ©2022 ProjectSight Considerations for Choosing a Construction Procurement Method There are a wide variety of factors that a project owner or manager may want to think about when deciding which procurement method to use for a project. These include: • Speed: If time to completion is the most important factor in a project, you'll want a procurement method that prioritizes speed. How quickly you can get service providers and materials in place will greatly influence how quickly you can complete the project and start bringing in income through sale or rent. • Cost: Staying on budget is a major concern for any construction project. When cost is a leading consideration, choose a procurement method that encourages cost competition among bidders and is sensitive to how much funding is allocated for each aspect of the project. • Quality: Not all materials and services are created equally. When quality is the top priority, choose a method that ensures that what you source meets the quality requirements and regulations for the given project. • Project Scope and Constraints: All projects have parameters they need to follow. Some projects — particularly public works projects — must meet government regulations or partner with firms that meet particular criteria. The project manager or owner must choose a procurement method that supports these requirements. • Risk: Procurement methods should reduce risk wherever possible. The type of risk a project faces might determine the procurement method you choose — for example, if the project schedule is at risk due to a potential supply chain disruption. • Asset Ownership: The ownership of the asset may affect how procurement proceeds — while the budget may be a high priority for some owners, timeliness or performance may be more important for others. Depending on the nature of the project, other factors you might need to consider are the project's complexity, how flexible and change-friendly you need the procurement method to be, and how much control the method allows the owner to retain.