As construction of the Kamloops Centre for the Arts moves forward, the project is becoming more financially certain, and opportunities for savings on the horizon are becoming more likely.
“The project’s risk register is currently forecasted to be approximately $5 million under budget, reflecting favourable tender results and the successful retirement of several project risks,” said Matt Kachel, the City’s Infrastructure Delivery Divisional Manager. “The project’s highest-risk early construction activities, including excavation and shoring, are now nearing completion, and through careful planning, strategic risk management, and collaboration across the project team, the project is maintaining a strong financial position.”
A key factor in the project’s financial performance is the Integrated Project Delivery model, which brings designers, builders, and major trade partners together from the outset.
Rather than working in traditional project silos, the Kamloops Centre for the Arts Integrated Project Delivery team has been working collaboratively on design, construction sequencing, procurement, productivity, and risk management. This allows decisions to be informed by both design expertise and practical construction experience.
The model has also created a shared incentive to identify efficiencies and reduce costs while maintaining the project’s scope, quality, and performance.
With excavation and shoring nearing completion, the focus will soon shift to foundations and the next stage of construction. Upcoming procurement will include structural steel, mass timber, concrete, waterproofing, electrical systems, HVAC (heating, ventilation, and air conditioning), plumbing, acoustic treatments, ceilings, and wall systems.
As the project moves forward, tender results and construction risks will continue to be closely monitored. As construction costs become more certain, the City may adjust annual borrowing requirements, which could help reduce long-term debt-servicing costs. Confirmed savings could also provide options to reduce the overall contract value, retain the savings, or consider previously identified and costed project enhancements, all without reducing the project’s planned scope or quality.
The Kamloops Centre for the Arts project is now moving from complex groundwork to visible construction of the building itself and is positioned to continue moving forward with a strong focus on value, quality, and long-term benefit for the community.
Learn more about the project by visiting LetsTalk.Kamloops.ca/KCA.
