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Official Construction Update Thread

MiamiBuffs said:


CU officials said the cost overruns resulted from a number of factors, including a short timeline for completion due to athletic schedules, weather issues and high turnover of CU and contractor staff.

"(The project) had a fast-tracked nature," said Kelly Fox, chief financial officer on the Boulder campus. "We really probably should've taken a step back and said 'We could use some outside help managing this project.'"

The campus also faced higher-than-expected costs for subcontracting, specialized labor and materials as the construction market began to heat up. The project turned out to be more complicated than it appeared during the planning process, Fox told the board.

New procedures in place

The campus also found weaknesses in its project negotiation and management process and paid consulting group McKinsey & Company $700,000 last fall to help improve its operations.

To address some of those issues, Fox told the board that the campus instituted project management training in January and created a contract management toolkit in December.

CU is hiring a new vice chancellor for infrastructure and safety and is instituting a "stage gate" construction process based on the consulting group's recommendation.

"You will see us spending more time on the front end defining our capital projects in the future," Fox said. "We'll spend a little bit more money up front to really understand the scope, the design needs and nailing that down before we bring that to you for approval. Throughout the process, then, there will be other checks that were not in place."

Bonds and fundraising

The campus financed the expansion by selling about $150 million in bonds. The athletic department is responsible for the project's cost and will make bond payments using donations and other revenue streams.

Chancellor Phil DiStefano said the athletic department expects to announce soon that it has raised between $85 million and $95 million for the project, though those numbers aren't final.

Through the end of November 2015, when the most recent fundraising update was posted online, the athletic department said it had raised $60 million for the project.
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not to **** on this... but that list was in alphabetical order...still somewhere in the top 15 isnt bad haha
 
Took a tour yesterday, the facility is world class. None of the pictures do the project justice.
 
DBT said:
Has this thread run it's course for the time being?
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Really the only left is installing the field on the south side of the IPF. I plan on taking the tour this Saturday so if I see anything new or exciting, or if anyone has any requests let me know and I will try to get photos
 
"Franklin" updates are out looks like prices are going up and available slots down to the 100-120 range. That we'll have reserved spots around the practice field, IPF parking and be able to store/rent equipment at CU.
 
absinthe said:
"Franklin" updates are out looks like prices are going up and available slots down to the 100-120 range. That we'll have reserved spots around the practice field, IPF parking and be able to store/rent equipment at CU.
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Not a bad setup. Could have been done better, but I get it.
 
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