We always tell our clients that you get the full value of a Real Estate Project Manager when you bring one on board as early in the process as possible. While this is absolutely true, we get many questions about the role of a project manager during the construction portion of the project. Why is there a need for a project manager if there is a construction manager? Hopefully the below information clears some of this up.
The first thing that a project manager will do during a construction project is align the project team by setting up meetings that include the architect, the engineers and any necessary consultants. These meetings will facilitate open communication throughout the project.
Project managers are the perfect resource to identify value engineering opportunities. Before construction begins, your PM should identify value engineering opportunities.
Throughout the actual construction, your project manager will review the progress of the construction and verify that a) the budget is in line, b) the schedule is on-target and c) that what is documented on the plans, is what is being built in the field. Your PM should also make recommendations to avoid construction problems before the project budget or timeline is impacted; this can help mitigate change orders.
If any change orders are needed, the PM should review the proposed changes to determine whether additional costs or credits are applicable. The PM would then work with the GC to resolve any change order disputes.
A significant portion of the role of a real estate project manager during a construction project is it monitor the permitting and inspection process. Because project managers are familiar with this process, the PM can navigate submittals and municipalities with ease.
Finally, a project manager will develop a punch list of all items that must be completed by the contractor prior to receive final payment.