Six Reasons You Need a Project Management Consultant.
With every new project, you face the same constraints: time, budget and quality. Of course, you want the highest quality possible, accomplished as quickly as possible and within your budget. If this sounds overwhelming or like a major distraction from your “real job,” it could be time to call on a professional project management consultant.
Reasons to work with a consultant
When does it make sense to outsource project management for your real estate project? See if any of these statements describe your current situation:
- Our internal team doesn’t have the expertise or experience necessary to lead this project.
- We need to find alternative solutions or fresh perspective.
- We need someone who can create a real schedule and help us achieve it.
- The budget for this project has no wiggle room so we’ve got to control costs.
- Communication among many people is crucial therefore we need a dedicated conductor.
- We’ve gotten ourselves into trouble or are stuck reaching a goal.
Finding the right project management consultant
Once you have determined that hiring a project manager would be in your best interest, look for an individual or firm who has experience in the right industry, like real estate or construction. There are a lot of consultants out there, so take time to find one who will properly support your project. Have they performed due diligence on a real estate acquisition? Or strategic planning for renovation? Has the consultant overseen construction of a similar-sized development? Ask about their strategies and specific methods for keeping your project on track in terms of both timing and budget.
Review past work that proves the consultant has the ability to advance your interests. Ask about each firm’s previous work or start with a referral from a trusted associate. The consultant you choose must not only add real value to the endeavor but have a demeanor that is compatible with your team.
What you can expect
Now that you’ve hired a project management consultant, what’s next? While project managers are adept at organizing, it’s very important that you, as the client, state your goals, expectations, risk tolerances and communication preferences as clearly as possible. This initial step establishes the proper benchmarks to measure progress. Then, the project manager should actively lead and manage teams using proven processes and modern tools, to get things done in a productive manner while proactively managing risks to avoid surprises. Clients should then not only appreciate seeing results, but also be able to track progress through scheduling tools, spreadsheets and online systems. One last and important topic, it would be wise to pay your project management consultant in a timely manner because having to worry about when, or if, he or she gets paid is a wasteful distraction from doing what’s best for your project.
For more information about Real Projectives® project and program management services and our mantra of planning backward but managing forward, give us a call at 888.357.7342. Results Driven. Risks Managed™.