A Guide to Project Management
We all have worked on projects before and it’s normally done with a group of people. To be able to complete the task, the group members must be actively participating. There are small projects and there are big ones. A small project may consist of 2-5 members to complete, while a bigger one would need more. These days there are several applications and software out there to make project management easier.
But first, what’s the role of a project manager to the real estate and construction industry?
Projects vary. But project managers have a responsibility to ensure that the end result of a project is not just completed on time, but on the budget as well. Although expenses could exceed – as most projects do, staying on budget is very important. Project managers are also responsible for performing the following:
Site selection before the construction
Zoning and entitlements
Project team member selection
Schedule and budget
Setting the schedule and budget will lay the foundation. If the project is to come in on a budget, which oftentimes does, then hitting the deadline is important to avoid more costs. The project manager will basically act as the representative of the owner on the site and ensure the specifications according to the owner are met. There are times when an organization opts for multiple managers. However, the most common is choosing a project manager to handle it.
There are three main components to a real estate project: Project, People, and Process.
Project - With a defined scope as well as resources, the goal of real estate projects is to improve existing spaces or build new ones for the community.
People – real estate projects are accomplished by a group of people. Aside from the project manager, architects, general contractors, consultants, etc.
Process – there’s a set of procedures and processes to guarantee a successful project. These must be in a well-organized manner.
Project Management, just like I have said earlier is quite demanding so there is definitely a need for strategies that could speed up the process – for instance, the use of reliable means to schedule, plan, budget, assign, monitor, etc. You may have already heard of Project Management Software. Here are some of the best examples that you can use to execute tasks efficiently.
Although it was not specifically designed for the real estate sector, ProofHub is certainly a great tool to assign tasks to team members and create projects for every client. Included is also a feature that allows brainstorming sessions online and visualizing workflows using Kanban boards.
Unlike ProofHub, Pendo was really created with Project Managers in mind, especially those managing multiple properties. What makes Pendo special is the number of features that focus on the demands of this very sector like tracking data, organizing files, an app, etc.
This one is different because it’s cloud-based property management which allows management that involves events, dates, and other actions. This software also allows automation and will provide ongoing details even if you’re away from your office.