The property industry is hugely diverse in the range of professions representing different disciplines and specialisms on behalf of various stakeholders throughout the property lifecycle.
Clients undertaking property-related projects, such as: construction works, acquiring premises or operating a building, are likely to engage a range of professionals providing technical, commercial, legal and statutory advice during the process to make the project a success.
When building the professional team, Clients need to understand which type of professionals they need to engage, when they are needed, the services to be provided and the coordination. When the professional roles have been identified it is up to the Client to identify suitable companies to appoint to those roles, as such they need to consider the following:
Pre-Qualification – Is the proposed company sufficiently capable, experienced and resourced to undertake the services in the proscribed manner and timeframe? Is the company affiliated to- or regulated by a respected professional body? Does the company carry sufficient Professional Indemnity Insurance?
Scope of Services – The professional team should be appointed on a scope of services which they are capable of delivering. Like all services agreements the scope of services should clearly set out the services to be performed and their timeframes. It is also important that the professional team be advised who they need to coordinate their services with, who they are reporting to and that they have been provided with the information they need to complete those services.
Timely Appointment – The process of finding, pre-qualifying and appointing a professional can take longer than the project process allows and resulting in costly delays.
Management & Coordination – In engaging multiple parties to provide input into a project, the Client needs to coordinate their activities with the rest of the professional team to ensure that the deliverables are achieved in a timely fashion and to join-up and reconcile the different advice received from each professional member so that everyone is “singing from the same hymn sheet”.
Appointing and coordinating the right professionals in a timely manner will make the difference to successfully delivering the project.
Project Planning, appointing and managing the professional team on all types of real estate projects is at the forefront of Doyen Land’s services. If you feel these services would benefit your organisation, please call us on 0207 947 4 947.