Updated: Aug 24
It's been shown that in the US, for every $1 billion spent on construction projects - $122 million was wasted through bad project performance.
If you’re spending hard-earned money on a project, doesn't it make sense to employ someone to manage how your money is being used!?
Some form of Project Management is vital to keep projects on track, use budgets effectively and ensure jobs are completed correctly.
What is the Role of a Construction Project Manager?
The Project Manager (PM) is responsible for the success of a construction project.
They oversee every aspect, including planning, execution, monitoring, control, and closure. Project Managers ensure that time-frame targets and budgets are met.
Additionally, they upkeep the crucial client relationship throughout the project.
A Construction Project Manager’s responsibility extends beyond the project itself to the management of the workers and day-to-day activities.
For example, they may need to check the right building materials have arrived at the site on time or explain that day’s activities to the team.
As part of the monitoring process, Project Managers must regularly report on the project’s progression to management and the client.
Client support is a big part of the role. PM’s plan and arrange visits to hoped for, new and existing clients to ensure they have everything they need.
What skills does a good Project Manager have?
It's not enough simply for someone to be experienced in Construction to be a good project manager. There are a number of skills required that set these individuals apart from the pack:
Financial management is one of the most important.
In construction, it is acknowledged that projects frequently cost more than expected – for example, in New York, the One World Trade Center was completed at a final cost of £2.5bn making it the world’s most expensive skyscraper but also finishing at *eight times* its original budget.
For the Construction Project Manager, it is their job to request more funds to keep the project going and in doing so, explain exactly where the money has gone and why more is required.
Construction Project Managers need the necessary skills and strengths to enable them to analyze financial accounts and the ability to diagnose specific problem areas and come up with solutions.
Another thing a Project Manager is responsible for is time management.
This is tied to finances - don't be surprised if an over-running project will end up costing more!
However, time management also helps when looking to ensure the on-site team is working as effectively and efficiently as possible.
For this, Construction Project Managers need leadership skills to manage and organize people as well as skills in collaborative working so that they might manage relationships with suppliers and clients.
It's worth mentioning also, the need for Construction Project Managers to have a good understanding of Health and Safety, Contract, Claims, and other legal frameworks.
Not having someone on your team with this knowledge and experience may land you in some very hot water!
So how does this affect me?
We hope it is not very hard to see how all of the above might affect yourself!
The Construction Project Managers’ job is to make sure your needs are met.
Do you know the legal requirements of construction?
Do you know how to protect yourself from legal action all together?
Do you know how to protect from delays?
Do you know what corners you can cut, and which ones might ruin your project?!
What's a construction project without a project manager?
Do you Need a Construction Project Manager?
The definition of project management has remained unchanged over the years:
‘the overall planning, coordination and control of a project from inception to completion aimed at meeting a client’s requirements in order to produce a functionally and financially viable project that will be completed safely, on time, within authorized cost and to the required quality standards’
So really, doesn't it make sense to employ someone whose job is to make sure your needs are met!
In addition, this may be a means of bringing your project in way under budget, avoiding legal issues, and having everything run well on time.
Thanks a lot for reading, if you want to learn more about how to save money on your construction projects, make sure to read the related articles below!
The Project Cracker Team