MEP Costs: Initial Budgets to Final Numbers | Blueprints to Punch List | Episode 23 Expert Video
Why MEP Costs Cause Budget Overruns (And How to Manage Them!) 💸💡
Ever noticed your project budget suddenly skyrocket? In this expert video, Dave Grosz and Ken Fulmer from Wilson and Company delve into the common pitfalls that can drive up your MEP (Mechanical, Electrical, and Plumbing) costs. They compare MEP costs to the stock market, explaining how market volatility, supply chain issues, tariffs, subcontractor capacity, and design changes can all cause significant budget fluctuations. The duo also discusses the importance of early collaboration, locking in decisions early, and maintaining a higher contingency during the initial budgeting process to mitigate risks. 📈🔧📊
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00:00 Introduction: The Mystery of MEP Costs
00:39 Market Volatility and External Factors
01:47 Scope Gaps and Design Changes
02:40 Subcontractor Capacity and Market Competition
04:03 Design Changes and Standards
05:18 Key Takeaways and Early Collaboration
06:34 Conclusion and Additional Resources
#constructionpodcast #healthcarefacilities #wilsonandco #expertvideo #blueprintstopunchlist #mepcosts
