Level:
Basic
TCM Section(s):
4.1. Project Implementation
7.3. Cost Estimating and Budgeting
Venue: 2022 AACE International Conference & Expo
Abstract: A well-developed theme park project requires the full integration of the ride, show, theme, and facility to achieve an immersive experience for the guest. Theme park developers, therefore, would usually employ a construction management (CM) company to coordinate the integration during the execution phase of the project. Specifying the expectation and budgeting the service is critical when selecting a competent CM company at a competitive price, while in the current market, the cost model is not available. This study starts with a typical theme park attraction project description, the scope of the work needed to be performed by a CM company with an organization chart with headcount and level of the position. Then, a manpower plan is drawn from the baseline schedule and the organization chart. Furthermore, an analysis of the selling rate is combined with the CM resources needed to form the CM fee model. The model is presented and validated at a theme park project, followed by a discussion on the relationship between CM fees and overall direct construction costs. A well-defined CM fee model can assist the client in budgeting and selecting the CM company for theme park projects in China to avoid shortcomings on the side of the CM company.
TCM Section(s):
4.1. Project Implementation
7.3. Cost Estimating and Budgeting
Venue: 2022 AACE International Conference & Expo
Abstract: A well-developed theme park project requires the full integration of the ride, show, theme, and facility to achieve an immersive experience for the guest. Theme park developers, therefore, would usually employ a construction management (CM) company to coordinate the integration during the execution phase of the project. Specifying the expectation and budgeting the service is critical when selecting a competent CM company at a competitive price, while in the current market, the cost model is not available. This study starts with a typical theme park attraction project description, the scope of the work needed to be performed by a CM company with an organization chart with headcount and level of the position. Then, a manpower plan is drawn from the baseline schedule and the organization chart. Furthermore, an analysis of the selling rate is combined with the CM resources needed to form the CM fee model. The model is presented and validated at a theme park project, followed by a discussion on the relationship between CM fees and overall direct construction costs. A well-defined CM fee model can assist the client in budgeting and selecting the CM company for theme park projects in China to avoid shortcomings on the side of the CM company.