The Application of Lean Construction to Reduce Waste in Construction Flow Process
Construction Lenders Reduce Risk
23
Grabbing Control of Photo Documentation to Reduce Risk Rob Mathewson CEO © Geedra LLC, 2012
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Transcript of Construction Lenders Reduce Risk
Grabbing Control of Photo Documentation to
Reduce Risk
Rob Mathewson
CEO
© Geedra LLC, 2012
New Rules for Development
A major element of concern for real estate pros is Dodd-Frank’s impact on
construction lending… The rules are intended to force banks to assess risk
more carefully.
New York City Real Estate News
7/1/2012
• Dodd-Frank – Lower Risk Tolerance• ADA – Toughening Enforcement • LEED V4 – Transparency Rewarded• Construction Risk Remains
ConstructionTransparency
New Rules for Development
Owner’s pressures include increased equity requirements and higher return demands from institutional money. Government has stepped up enforcement of ADA. Newest LEED requirements require commissioning and higher transparency requirements. Existing construction & data risk include: data security, delay claims, warranty claims, etc.
© Geedra LLC, 2012
Photos are the Key
Gen’l Contractor Communication
Current Photo Sources
Inspection Reports
© Geedra LLC, 2012
Lender
Consultant Reports
Shortcomings
• Coverage Gaps• Inconsistent report preparation• Heavy reliance on personal observation• Unpleasant surprises
© Geedra LLC, 2012
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System-Wide Challenges
Project 1
Project 3
Project 2
Project 4
© Geedra LLC, 2012
Lender
Project 5
Taking Control of the Process
• Common photo-reporting platform• Standardize photo content• Leverage all resources
– Inspectors– Construction– Consultants
Gen’l Contractor Communication
Current Photo Sources
Inspection Reports
© Geedra LLC, 2012
Lender
Consultant Reports
Gen’l Contractor Communication
Common Photo Platform
Inspection Reports
© Geedra LLC, 2012
Lender
Consultant Reports
System-Wide Challenges
Project 1
Project 3
Project 2
Project 4
© Geedra LLC, 2012
Lender
Project 5
Common Photo Platform
Project 1
Project 3
Project 2
Project 4
© Geedra LLC, 2012
Lender
Project 5
Lender Account
Inspection Reports
© Geedra LLC, 2012
Lender
•Capture and Retain All Photos•Automated Report Builder•Multi-project Dashboard
Gen’l Contractor Communication
Contractor Account
© Geedra LLC, 2012
Lender
Consultant Reports
Gen’l Contractor Communication
Contractor Account
© Geedra LLC, 2012
Lender
Consultant Reports
More Than Just Technology
• Photography Coverage Guidelines• Critical Installations, LEED, ADA, etc.• Standardized views
Contractor Benefits
• Automates Manual Processes• Improved Research and Reporting• Control Over Unsecured Photos• Post-Project Export
The SolutionToday – Common Platform
User Input + Photos + Tags Shared Photos & Reports
© Geedra LLC, 2012
1. Shoot photos2. Upload to web3. Research and Report
1. 2. 3.
The SolutionComing Fall 2012 – Mobile Automation
User Input + Photos + Tags Shared Photos & Reports
© Geedra LLC, 2012
Auto Sync Photos + Tags
Flexible PlansConstruction
(for GCs)Operations (for Lenders)
Projects 1 UnlimitedPhotos 20,000 UnlimitedTraining Webinar 1 1 per ProjectPhoto Guidelines ✓ ✓10-Year Storage ✓ ✓Project Subscription $999/yr
($99/mo)$99 per
Project StartTwo possible pricing plans appear above. See www.geedra.com for full subscription plan information. Plans can be customized as needed.
© Geedra LLC, 2012
Management
Kieran Gaffey, Founder/VP•30 yrs Construction, Mgmt and Consulting•Safeco Field, Qwest Field, Lincoln Square•Founder, Construction Documentation Svcs.
Rob Mathewson, CEO/Founder•25 yrs experience: Construction, Web, Mfg.•Former VP Construction Documentation Services•Chief architect of Geedra interface.
© Geedra LLC, 2012
Next Steps for Evaluation
• Select suitable test project• Review Photo & Tagging Guidelines• Training for staff, inspectors, GC.• Deploy in 1-2 weeks
© Geedra LLC, 2012
