LOS ANGELES-Poor communication between developers and contractors is a principal cause of budget and timeline issues, according to panelists at RealShare Apartments 2013 in Los Angeles. While discussing cost management strategies for development and renovation projects, the panel said transparency is a necessity in managing construction costs.

“The earlier that [developers] give real logistics on time frame, that is where you will see the best project,” said Mike Rovner, president of Mike Rovner Construction and one of the four speakers on the panel moderated by Greg Sadick, VP of Residential for Snyder Langston. After the panel, Rovner added that developers often want to discuss projects through email, but a face-to-face interview is essential to the project's success.

Jeff Bunker, president of Wermers Construction, suggested that “contractors [should] sit in on meetings with architects to better understand costs.” This way, contractors would know details about the project that may have been left out and can adjust cost expectations.