Strategic Planning!
Projects are typically defined by three criteria: scope, budget and timeframe for delivery and it is within these indicators that a project is judged to have been a success or otherwise:
Was it delivered on time?
Was it delivered on budget?
Does the completed project function as required?
There are numerous factors and issues that affect a project’s progress and outcomes, which an experienced Project Manager should be able to navigate through. Before embarking on a complex real estate project the Client should consider the following:
Initial feasibility and Client Brief – The Client, in conjunction with the relevant advisors, should clearly define what they are trying to achieve through the works and establish a realistic budget and timeframe.
Procurement Strategy – Once defining the project criteria the Client should further establish their priorities, whether it is time, cost-efficiency or quality and the levels of risk they want divide between themselves and the contracting parties. This will determine the procurement strategy to be adopted – traditional, design & build or construction management.
Project Planning and the Professional Team – The Project Manager can advise the Client on the Professional Team that needs to be appointed, their roles, coordination and when they need to be appointed. The Project Manager will further advise the Client on the suitability of proposed Professionals and agree the scope of their services. The Project Manager will also be able to advise the Client on any specialist input that may be required during the course of the project.
Lines of Authority – Communication and passing of instructions is an essential part of any project and the Client needs to be clear who is responsible within their organisation for authorising instructions and variations through the project.
Appointing Contractors – For low-value or low-risk works, it is often perfectly acceptable for the Client’s Representative to call known suppliers and “get a quote”, however as works get more complex and valuable there will be more emphasis on a structured approach, known as a tender. (see also: Getting a Quote vs Tendering)
Competence of Appointed Contractors – The Project Manager will pre-qualify proposed Contractors to ensure that they have the appropriate qualifications, experience, resources, health & safety processes and procedures and financial strength to carry out the project works.
Works Contract – The success of a project will hinge on the Contractor(s) being appointed under the appropriate form of contract that suitably reflects the requirements of the Client and that both parties understand all their rights and obligations under the contract. (see also: Protecting your Project Through the Contract)
On-going Management & Coordination – It is vital that the Client and their representatives remain engaged with the project throughout its progress via regular progress reports and minuted meetings. As and when designs are produced and costs are expended the cost plan, budget and Client Brief should be reviewed and updated to reflect the progress and give the project stakeholders an opportunity to make changes if needed.
Handover to the Client and Stakeholders – Critically, handover of the completed project needs to be carefully coordinated ensuring that all relevant information is passed to the client including servicing, maintenance and warranty details.
Doyen Land provides Clients with Project Management services on all types of real estate projects. If you feel this would help your organisation please call us on 0207 947 4 947.