Conceptual Cost Management Genesys
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Conceptual Cost Management (Genesys)

When it comes to establishing a project budget or reconciling a budget and scope of work, there tends to be a rather small margin of error. A difference of as little as 10% can lead to a very frustrating and costly (both in profit and reputation) design process. GENESYS™ is a conceptual cost modeling tool developed by Palacio Collaborative to assist the team in developing accurate project budgets or reconciling a scope of work to an established budget. With as little as a program and conversation with the design team we are able to quickly develop accurate project-specific cost models and study a variety of design or programmatic options many of which can be done in real-time. With our highly experienced senior staff, GENESYS™ tool, and ample historical data, we have helped our clients put hundreds of projects onto a path of success.

Benefits of a Conceptual Cost Model

  • Identify and tract Division Cost Targets throughout the design/estimating process
  • Set parameters based on the merits of a specific project (do not simply rely on historical data)
  • Manage Owner’s expectations
  • Review process puts the entire project team on the same page
  • Document project parameters, assumptions and design intent
  • Identify and price variables to diminish risk
  • Determine what specifically is and is not in the construction budget
  • An accurate cost model can inform project soft costs like FF&E, A/V, etc.