The common assumption about hiring a project manager for tenant improvement projects is that it can add to the construction cost or the lease price. Putting the project type aside, an experienced project manager can actually save the tenant more money in the long run.
Employing a Project Manager from the onset of any project, including small or large scale tenant improvements, could mean more than just someone overlooking the project; it could mean more of your time on other essential aspects of your business.
What are the Project Manager’s responsibilities?
Project managers oversee all aspects of the construction process, including developing the design plans, establishing the schedule, and managing the project’s costs.
A project manager is the focal point of the operations, working closely with the architects, engineers, and subcontractors while maintaining an open and transparent communication line with the tenant and the landlord.
When you hire a Project Manager, their responsibility is to protect your interests and ensure that the results are what you had commissioned. This can mean filling in several different roles to ensure the success of your project.
A Project Manager also provides a comprehensive budget beyond a construction scope. This can include furniture sourcing, IT and security contracting, and even move-in management. PMs have a thorough understanding of the schedule that entails a TI project. More so, Project Managers implement detailed plans that benchmark key milestones and track the project’s overall progress. Experienced Project Managers are not only skilled with time management but also in handling the resources at hand. Project Managers can warrant that all subcontractors meet the highest quality standards when providing services and sourcing materials. Simply put, they make sure that no corners are cut to save cost at your expense.
Project Managers serve as your eyes and ears, attending weekly construction meetings and conducting site walk-throughs to ensure that the construction progress follows the plans as documented.
What can you expect from a Project Manager on your side?
Alignment of the project’s goals with the purposes of the tenant and their business.
Complete management of the project team from vendor negotiations to collaboration with architects, engineers, and subcontractors.
Implementation of sound practices by ensuring all documentation, including permits, design drawings, and change orders, are issued accurately.
Assurance of delivery of the scope work as per the time and budget proposed.
Carefully assess, mitigate, and implement contingency plans.
Investment in the successes of the project and a retrospective review at every stage of the project.
One of the most critical but often overlooked benefits of employing professional Project Managers is that they can negate the potential issues during the project. Knowledgeable Project Managers can develop contingency plans to accommodate unforeseen changes that may cause the project to be over budget or run past the delivery date. This saves you, the tenant, from personally dealing with the issues that will eventually cost you your time and money.
Feel free to contact us and chat about how our Project Managers can help with your upcoming projects.