Modernize Your Elevator the Smart Way: Part 3 – How to Get Your Modernization Project Completed On-Time & On Budget

Elevator modernization re-invests in your building and promotes the safety and comfort of your riding public; however, it’s also usually a complex project with significant costs. It’s important to effectively plan for your elevator modernization so that the project returns on your investment by increasing both your equipment’s worth and tenants’ and visitors’ satisfaction.

1. Put It In Writing

Building owners should solicit and receive a contract in writing that outlines the scope of the modernization project and details the commitments of both the elevator company and the building owner. Each party must know their financial and technical responsibilities to ensure effective communication and execution. Your written agreement should establish a timeline and budget for the elevator project as well as include contingency plans should anything run afoul of the agreement. Some contracts might adjust payment schedules, for example, or provide for alternative overtime and/or building access should the timeline be at risk. These contingencies serve to incentivize project completion while ensuring that you have a plan for your building and riding public in every circumstance.

2. Develop a Project-Management Approach

Many building owners prefer to engage an elevator consultant who will make recommendations for their elevator modernization project, draw up a suggested plan, and even solicit elevator modernization companies to complete the work. An elevator consultant effectively becomes a qualified project manager who can both advocate for the building and its public to the elevator company and inform the owner about the technical requirements and project progress. Importantly, the consultant should ensure that the project stays within a reasonable, agreed-upon budget and on schedule. To find an elevator consultant in your region, check with the listings from the Elevator World Directory

If you choose not to use an elevator consultant, building owners should nevertheless strategize with their elevator modernization company about how to routinely and effectively communicate about the status of the modernization. You should have agreed-upon benchmarks for work completion; payment plans are often correlated to the successful execution of these project milestones.

3. Use Non-Proprietary Equipment

Non-proprietary equipment will not sacrifice the safety or aesthetics of your modernized elevator, but it can influence your long-term plan for a prosperous building. Kencor, Inc. has found that when customers use non-proprietary equipment on their elevator modernization or other vertical transportation projects, they can save up to 50% in costs. In fact, building owners have the right to demand an elevator modernization company only use non-proprietary equipment.  This benefits the owner, building, and tenants by freeing you to choose your own competitive maintenance provider in the future, lowering long-term overhead costs.

Truly complex elevator modernization projects like system replacements can bring unavoidable financial responsibilities to your doorstep. A well-thought out elevator modernization plan rewards building owners and their riding public with the benefits of updated equipment at reasonable expense and moderate inconvenience. Your informed selection of an elevator modernization company and thorough approach to project management will help ensure the success of your modernization project on-time and on budget.

Related articles:

Modernize Your Elevator the Smart Way: Part I – How Do I Know When to Modernize My Elevator?

Modernize Your Elevator the Smart Way: Part 2 – What You Should Modernize for Updates that Last