what you need to know when considering project management
TRANSCRIPT
What You Need to Know When Considering Project Management to Avoid Critical Mistakes
Many tenants begin build-to-suit or tenant improvement projects with internal company resources
They find as the project progresses that they lack the requisite knowledge and the process is far more complex and time intensive than originally thought
This overestimation of capacity can lead to significant time delays and budget problems for the tenant that
cause the project to quickly spiral out of control
What to Look for in a Commercial Real Estate Project Manager
A skillful project manager (PM) plans, organizes, coordinates, and oversees all aspects of a project
A PM must have exceptional communication/planning skills, be detail oriented, & be able to hold key stakeholders accountable
A project manager must have the ability to tactfully influence positive decision making & coordinate inter-dependent tasks
An effective project manager sets in place a communication system from the beginning of any project
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The first thing you can expect after bringing a
PM on board, is a communication system to
keep all stakeholders informed
This communication plan will ensure
accountability, increasing the likelihood that the
project will have a successful outcome
Now that You’re Working with a Project Manager, What Can You Expect
Productive project phasing for
schedule control
Quality control through expertise in
construction & materials
Effective risk management &
identification through action
plans
Efficient allocation of responsibilities &
monitoring work
Practical site organization & administration
Effective management of people & team
dynamics
Contract negotiation
Expertise in value engineering
Control of change orders & cost
escalations
Advantages of a Dedicated PM
Advantages of a Dedicated PM
A project manager that represents only the tenant not only provides value in project oversight but, also in protecting your best interests.
Overall, you can save time and money without sacrificing an exemplary end product by taking advantage of the services a project manager can offer.