Tocci Presents at the MIT Center for Real Estate
Last Friday, Tocci’s Virtual Design and Construction (VDC) Manager and I met with a group of graduate students at MIT Center for Real Estate (MITCRE) and gave a lecture titled “The Impact of Time on the Financial Nature of Development Projects”.
MITCRE brings together a wide variety of students from all around the world with education and work experience in four major backgrounds: finance, architecture, engineering and brokerage. These students came to our lecture with a strong understanding of these four backgrounds, allowing a sophisticated level of discussion to ensue. The students showed a great deal of interest during our Q&A session, provoking further discussion of MEP coordination, trade contractor management, 3D coordination, and our modular efforts here at Tocci.
The presentation was an opportunity to discuss specific challenges in development projects (time delays) and major causes of uncertainty. We discussed the ways in which the integration of project controls and VDC can minimize or remove these uncertainties in an effort to deliver better projects within time and budget. With focus on importance of early engagement and use of modern tools and techniques, we shared ways Tocci engages with the owners, design teams, and subcontractors to assist throughout all phases of a project.
Our VDC Manager, Owen, showed samples of products we develop for our projects to help the designers and owner make planning and design decisions. I showed the group how our Project Controls and Operations departments use these tools and products to increase stakeholder’s knowledge on the project, interview our subcontractors, develop work plans, and track the progress of projects.
Owen and I thoroughly enjoyed this opportunity to not only present, but also converse with these bright minds that are truly the future of the real estate industry.