The Cost of Creativity: How Much Does It Impact the Bottom Line?

It’s the age-old debate for any construction project - cost versus value. The fact is, when it comes to value engineering, one of the first things to go are the creative design elements. 
But is that necessary to achieve a healthy bottom line? Do creativity and innovation need to be compromised to stay on budget?
After completing the interior design for an Edmonton-based affordable housing project, CWDesign knows first-hand about things to consider to maintain creativity in a project while staying on budget.
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The Team

Do you have the right people in place who have an innovative mindset? Innovation shouldn't add cost to a project – being innovative is a different way of approaching a challenge to find a solution. People with an innovation mindset are the ones you want on your team if you don’t want to compromise creativity for revenue. Integrating these people early on will help you develop savings throughout the project with their innovative thinking.

Collaboration

WHO is on your team is just as important as the mindset they hold. A successful project should include all stakeholders, including your procurement team, as well as a collection of professionals with different skill sets to attribute to the project. A lot of forward thinking companies are hiring more than one firm to work on their project to expand on that innovation. They recognize the value that different expertise and experience bring to the table.

Perceived Cost

Creativity shouldn't come at a price. Even with a tight budget, and restricted material choices, you can still achieve a great aesthetic. These projects sometimes challenge a designer’s creativity more than others by forcing them to push their thinking outside of the box.  Colour, shape, and texture can drastically change an environment without breaking the bank, and coming up with creative ways to do that while staying on budget can be the most rewarding part for a designer.

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