Builders and developers should engage project managers and prepare for alternative building solutions as volatile commodities prices continue to wreak havoc on virtually every CRE property type, according to a new report from Cushman & Wakefield. 

While risk management strategies may differ somewhat across the property spectrum, occupiers and investors should engage project management professionals early to solicit specific advice based on market conditions and industry expertise relating to budgeting, scheduling, procurement strategies, suppliers, and design scope.  Cushman & Wakefield also recommends engaging a project team that can create and vet "all possible project solutions," including creation of customized master project budgets, master schedules, and value engineering studies.

C&W also recommends that owners consider alternatives to more traditional in-demand building materials, like precast concrete panels, PEX plumbing, lumber, CMU, concrete, or steel.  Specifically, the firm says owners of office high-rises should consider concrete structures in lieu of steel, while low-rise and mid-rise construction may benefit from modular construction, which reduces waste and drives up labor efficiency.