If you are property developer you may be excused for thinking that hiring a project manager for your property development project seems like an unnecessary overhead, but there are tangible benefits to doing so. Continue reading to learn more about how hiring a property manager can deliver better outcomes and improved returns in your next property development project. You may also be interested in finding out how we conduct property development management at McAndrew Group.
The Role of a Project Manager in Property Development
The role of a project manager can be compared to that of an orchestra conductor or a film director – project management is an exercise in the arrangement of every aspect of a property development process into a high-performance, well-oiled machine. A good project manager is a master orchestrator who can effectively look after the planning, design, and delivery of your project from the very beginning to the ultimate end. The project manager is responsible for the successful completion of a project, ideally within budget and on time. They are your representative responsible for dealing with designers, architects, councils, construction professionals, builders and other consultants involved in your projects (such as property lawyers, and marketers for example).
The Advantages of Hiring a Project Manager
Professional Skills and Expertise
A project manager specialises in exactly what their title implies – project management. The successful delivery of a property development venture is comprised of many crucial but wildly varied elements, consequently it will be necessary to communicate with a wide array of experts and specialists from a variety of backgrounds. With a broad spread in the areas of expertise of all the people involved in such an enterprise, there is a need for a central “brain” who can negotiate and “translate” between the various experts and specialists from backgrounds in legal, marketing and construction matters. This problem can be solved by hiring a project manager.
Established Connections
Because a successful project manager has no choice but to deal with many different people throughout their career, they naturally build many industry connections and relationships. This gives them a “talent pool” they can leverage in your project. A project manager can bring to the table otherwise not available to you experts and specialists who may improve the deliverable aspects of your venture, contributing to increased returns. Such established relationships can give your project access to proven experts specialising in legal, sales and marketing, design, and construction aspects of its delivery. Hiring a project manager enables you to leverage human resources already known for the quality of their work as well.
Business Focus
Since a project manager’s success depends on the successful delivery of a project they are, by default, motivated to the delivery of great results, not just the simple completion of your project – your project’s success is your project manager’s success and the key performance indicators of your enterprise are, by extension, your project manager’s key performance indicators. This means that a project manager has a tangible stake in delivering improvements and increased returns whenever and wherever possible.
A More Objective Bird’s Eye View of the Final Product
As a developer you are liable to understand your project from a developer’s perspective. Likewise, every expert and specialist involved in your project will have their own understanding of what it is and how it is supposed to look like when finished. Additionally, your experts will probably have an understanding of your project limited only to their specific area of responsibility. A project manager needs to have an overarching vision for the final product as a commercially viable venture to be able to effectively coordinate all of its various aspects and to ensure the quality of the final delivery. This allows them to ensure the delivery of coherent outcomes, as planned, within planned timeframes and budgetary constraints.
Make your next property development project a breeze, achieve better delivery timeframes, improved quality of work and increase the potential for better returns by hiring a project manager from McAndrew Group. Call 07 3266 8555, getting in touch online or e-mailing admin@mcandrewgroup.com.au.
