Real estate projects can take months or years to complete, depending on size, as well as complexity. All parts of a real estate & construction project schedule must be timed perfectly, scheduled logically and coordinated with one another to avoid delays and cost overruns.
Each step of the process has a different timeline and purpose, and all must be completed in a predetermined order; e.g., the foundation must be completed prior to the drywall.
To ensure completion on-time and within budget, each project must have a schedule, which Oxford Dictionaries define as follows:
sched·ule (ˈskejəl) noun 1. a plan for carrying out a process or procedure, giving lists of intended events and times.
Yet, even in the best-planned schedules, uncontrollable outside forces or influences can hinder the project’s timeline. Therefore, hiring an experienced real estate and construction owner’s representative / project manager who is actively engaged in the marketplace will ensure accuracy and efficiency in your project schedule. To create a schedule that incorporates all project considerations, risks, allowances and “plan B’s”, your project manager must understand market conditions and be able to forecast and account for lead times on certain materials, labor shortages and availabilities, and weather-related issues. A proper schedule will allow adequate time for delivery of supplies as well as unforeseen delays.
An experience real estate and construction owner’s representative / project manager will give your project the guidance and leadership it needs from the start by coordinating design and budgeting, construction and labor availability, and materials to ensure they are all in harmony with one another so your project is completed within its timeframe.
The ideal schedule should push along each vendor at an appropriate speed while building enough time for unexpected and uncontrollable setbacks. However, if you build too much time into your schedule your project vendors may take advantage of that extra window and work at a less efficient speed, thereby costing you more money and leading the project to a point of diminishing returns. Therefore, setting deadlines and ensuring adherence to them within reasonable timeframes must be a project manager’s priority on behalf of the client.
An owner’s representative who is in tune with the marketplace will know who the best-in-class vendors are, as well as their current and future availability. This ensures that the project team gets the ready manpower it needs for timely completion of tasks, and the past experience necessary to avoid or mitigate unexpected pitfalls.
All real projects need a well experience real estate & construction owner’s representative who is up-to-date with local market conditions, knows which vendors are available and competent enough to complete the work on schedule, and can set specific milestones and deadlines to make sure your project is finished on time and on budget.