When we are talking through a project with a new client, we are almost always asked, “when is the best time to bring you on board?” The assumption is often that a real estate project manager should not be brought on board until construction commences, or shortly before. Some clients are surprised to learn that much of our value is lost if we are brought on that late in the process.
The true value of a real estate project manager is to act as your consultant and advocate through the entire real estate process. By participating in the planning stages, the project management team will have a clearer understanding of your needs and priorities. A budget and schedule will then be put in place that accommodate the crucial aspects of your project.
A critical part of our job is to ensure that a project budget and schedule are realistic. Is the scope of work realistically achievable on the given timeline? Is the scope realistic for the budget? By being involved early in the process, we can evaluate, on a regular basis, whether an addition to the project scope will impact the budget and schedule. This is much easier to do from the project’s inception and continuously throughout the planning phase. This way, once construction commences, all schedule and budget issues have been worked out and construction can continue quickly and smoothly.
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A third-party real estate project manager will handle all strategic negotiations. The goal of a project manager is to ensure that you reach your desired goals and receive the maximum value of your investment in both your real estate project, and in the investment of project management services.