Top 7 Definitions for Developers

Developer Definitions
Top 7 Easy to Understand Definitions for Developers

At Kipcon, we believe education and knowledge of our clients is one of the key components to our mutual success. We often get asked the same questions and decided to put together a list of the top seven definitions and phrases developers need to focus on. Here is our official list and if you think we have forgotten something, we would love to hear back from you!

 

1. Risk Management
Risk management for developers is the process of evaluating the chance of loss or harm and then taking steps to combat the potential risk. One example of how an engineering firm, such as Kipcon, can help control the risks is a third party inspection.

  • Third Party Inspections – observations during construction that will help attain general conformance with the architectural and engineering design documents; these observations are typically performed on a regular basis throughout the construction process

 

2. Site Planning
A site plan is a set of construction drawings that a builder or contractor uses to make improvements to a property; Site planning and design provides the natural connection between the built environment and the surrounding landscape.

 

3. Transition
The transition process is believed to be the most crucial period in the life of a community association. This is the time when the governing body of the community must determine not only the physical and financial strengths of the development, but also set the procedures in place for future maintenance and financial stability.

 

4. Reserve/Green Reserve Study
A Reserve Study is a comprehensive, budget-planning tool. It consists of a physical and financial analysis of a community, based upon the common area components described within the association’s governing documents. It acts as a road map for planning the community’s maintenance, repair, and replacement expenses.
Kipcon is the only firm to also offer a Green Reserve Study®. The goal of this type of study is to help guide your association in reviewing the physical components of your community, and their relationship to the budget as they relate to replacements, maintenance, and energy.

 

5. Litigation Support
Litigation is generally the last resort in the resolution of conflict, but it involves documentation and presentation of claims in support of the client. This includes multiple claims types ranging from:

  • Transition
  • Construction Defects
  • Construction Litigation Support
  • Material Defect
  • Expert Witness and professional testimony

“In today’s world, everything seems to be geared towards confrontation rather than a solution.  Being trained as a mediator is a way to help change this culture.” –Mitch Frumkin, President

 

6. Peer Review
Peer reviews involve reviewing documents prepared by peers involved in the development of a project to help avert improper construction due to incorrect, unclear or missing design details; for Kipcon this includes a review of the architectural and engineering design drawings and specifications and a comprehensive written report detailing engineer’s findings

 

7. Field Modification Design
Engineering or architectural design for changes to a project under construction as a result of a change order or unforeseen field conditions

 

 

Don’t forget to stop by Kipcon’s Booth (911) this week at the New Jersey Builders Association’s Annual Atlantic Builders Convention in Atlantic City!
For more information on Kipcon’s booth and our seminars, click here.

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Don’t miss Kipcon’s Seminars at ABC:

Engineering Strategies & Cost Controls for Developers

Presenter: Mitchell Frumkin, Kipcon
Date: Wednesday, March 30, 2016
Time: 9 – 10:45 am
Location: Room 309 (3rd Floor)
Atlantic City Convention Center

 

Community Associations: What are they and what are the risks (and how to avoid them)

Moderator: Mitchell Frumkin, Kipcon
Presenter: Doug Schnorr, Kipcon
Date: Thursday, March 31, 2016
Time: 2 – 3:45 pm
Location:  Room 315 (3rd Floor)
Atlantic City Convention Center

 

 

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