In the life of a commercial property, major remodeling or renovation projects are expected and in certain cases, greatly encouraged. Whether you’re sprucing up an older building or providing more amenities to your tenants, renovating a space can greatly increase your property value. As a property owner, it’s important for you to know how to effectively manage construction projects, whether they’re of large or small size.
Managing a construction project affects the outcome of your project more than you think, especially when considering commercial or multifamily buildings. Depending on your location, there are multiple people and factors that need constant monitoring and direction to be productive. Between partnering with local architecture and engineering firms to ensure you’re following local guidelines, the job of a construction manager is essential for any project.
Stay on Time & Within Budget
The difference between an effective and ineffective leader can be found in the initial scope of work. Before beginning any project, it’s a construction manager’s responsibility to set realistic goals and provide ways to complete those projects on time and within budget. Whether it’s a particular person or designated team, keeping a close eye on deadlines and expenditures is key to staying on track. To adequately plan both your schedule and costs, obtain assistance from professionals in the construction industry and ask questions so that you can be adequately prepared.
Promote Good Communication
Construction projects, especially large buildings, involve a number of team members and outside contractors. It’s important to have a communication plan in place to ensure no one is misinformed or overlooked. Make sure there is a clear understanding of position expectations and project updates to streamline the flow of communication. While there are multiple moving parts that are necessary for a successful project, keeping every person in the loop will help resolve issues and help you earn respect.
Pro Tip: Team morale is a big part of maintaining motivation throughout the construction phases. Reward your workers who are going the extra mile and completing project milestones on time to boost productivity for your whole team.
Anticipate Surprises & Unforeseen Problems
In construction, you have to be prepared for the unexpected. While you may implement every management tool on the market, it’s important to remember that you won’t be able to plan for everything. From natural disasters to broken pipes and faulty electrical wiring, there a variety of circumstances that could affect your project’s end result. It’s important to have a contingency plan for work delays or overspending so that you can ensure a successful construction project all around. Even though you can’t predict the future, you can stay prepared so that everyone involved, your tenants and workers, will stay ready.
Effective Project Management Matters
When you’re dealing with unique tenant needs and the schedules of contractors, being able to step back and see the big picture is important. A qualified and experienced property manager should be able to identify the different factors affecting a large construction project and implement solutions that will work. By effectively managing a project plan from start to finish, you can trust your project will be completed without frustration.