Archive: December, 2011

Price vs. Cost

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A low price is very seductive, however it seldom results in a lower cost, in fact it’s usually the opposite.  It can be very difficult to understand the difference on complex or large scale issues and it’s important to understand the difference before signing on the dotted line.  In the HOA environment the dollars and complexity of many issues can multiply quickly due to the scale of the property coupled with the expectations of performance we call useful life or lifecycle.

To minimize risk and make understanding bids easier with more confidence, make sure you:

  1. Scoped the project correctly;
  2. Have a good specification and plan set for the bidders;
  3. Know what you want;
  4. Provide a bid form designed to generate the information you want and don’t accept bids that are not on your form; and
  5. Carefully review the bids, ask questions and fully understand the answers before you consider an award.

If the repair/maintenance/improvement issues are large, hire a professional Construction Manager to represent you and provide the insight and experience necessary to guide you through the process, their fees are a fraction of the project costs and generally their experience will lead to better decisions, greater value and a longer lasting product making their fee a value.

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Buy Like a Builder

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Buy Like a Builder - CIDologyWhen your property was built, it was built by seasoned professionals whose business it is to know how to buy right. Due to their size and scale, HOA’s have the ability to buy goods and services in the same way as a builder if they understand how to harness the power of an HOA as a buying entity. This takes some expertise and there are several factors that can be useful tools.  First, make sure you have generated a plan and know what that plan requires so you are buying the appropriate goods and services to meet or exceed those needed to complete the plan.  Second, buy in the largest quantity possible, perhaps even a few extra as the prices you will pay in bulk will be considerably less than buying a few at a time.

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Do it Right and Sleep at Night

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Do It Right Sleep At Night - CIDologyWhen was the last time you complained about a high quality item and wished it wouldn’t quite meet up to your expectations? Never, right?  We are always pleased with the look, feel and performance of high quality goods and services and this high quality generates an understanding of real value and worth.  Risk and HOA’s don’t go well together and therefore I suggest you always do it right by seeking out value and recognize it when it’s presented; you won’t be disappointed and your property will thrive because of the value you instilled into the project.

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