Without interfering with the responsibilities of any particular professional, a true third-party project manager (PM) leads and helps integrate all vendors, elements, and phases of a project from start to finish. Designers, contractors, and real estate brokers are highly capable within their specialties, but can fall short when entrusted with the responsibilities of an independent project management firm, much like a construction manager (CM).
A PM will act as your advocate and representative throughout the project so that all of your goals are met from start to finish. During the project life cycle [or] duration, a PM will become the owner’s trusted advisor, go-to person, and single point of contact for project performance and procedure. A PM oversees the procurement of specialist consultants, such as Audio Visual, Food Service, Security, and IT, with the client’s direction. The project manager will then act as a liaison between the client and all vendors, designers, engineers and contractors to ensure smooth and constant communication between the various parties so that everyone stays on the same page at all times.
In simple terms, the PM will ensure that all activities are aligned with the client’s overall goals and objectives for the project. This means that the project manager will plan, manage, monitor and adjust all the details of the project, not just its construction phase, and will even help select and ultimately manage the CM.
A project manager will assist in the hiring of a general contractor and/or construction manager and will monitor the quality of their work through site visits, to-do list walk-throughs, and reports at weekly project meetings. A project manager will also track and review change orders from construction managers, ensure all vendors are coordinated with the CM’s schedule, and challenge the CM on product lead times and delays. *It is important to note that there is a difference between a general contractor and a construction manager.
A typical construction manager has a scope of work that is limited to the pre-construction/construction phase. A construction manager will oversee all construction aspects of a project, typically participating in pre-construction meetings, providing on-site supervision during construction, and managing subcontractors. He may also directly enter into subcontractor contracts and is therefore responsible for all work of subcontractors.
So before you decide whether to hire a PM or CM for your next real estate project, learn the difference. And if you can’t decide, do your project a favor: Hire a project manager who will manage the entire scope of the project, not just construction.
