The task of supervising a multifamily construction project is a vast undertaking for developers and contractors alike. These type of extensive construction projects require the smooth functioning of many different factors and players; consequently, possessing the ability to quickly assess a situation on the fly -- and act accordingly -- often determines if a project will succeed. Perhaps equally as important, being knowledgeable as well as adaptable will result in timely completion of the multifamily construction project within the scheduled time frame.
Below are three tips for a successful multifamily construction project developer to follow in their quest for efficient and cost-effective project management.
Draw up an initial plan, with a well-defined timeline
A good starting place is to make an initial assessment. At this juncture, a quick historical look at similar projects in the area is in order. Does this job site present any possible issues that are lurking below the surface, and don't jump out at a casual observer? Solid, data-driven planning is crucial to any construction project, and is even more important given the magnitude of a multifamily job.
An integral part of the planning process is establishing a timeline, with benchmarks at strategic points along this timeline. These benchmarks must be realistic and comparable to other projects that have been completed that were on a similar scale. A valuable resource for construction developers and project managers is the Construction Financial Management Association. This website shows pertinent data regarding industry trends, and allows for comparison to other development firms.
This pre-construction phase is one area where our team truly adds value and benefits your project. Our experience and systems create accuracy in pre-construction planning, and allow us to lead your entire team to the most effective project results.
Follow the proven processes, and modify these processes to fit your needs
It's definitely a good idea to learn from the mistakes of others -- and to mimic the processes that proved successful. That being said, every multifamily construction project is unique; therefore, some adjusting and modifications of tried and true tactics will inevitably come into play. In this stage, flexibility is an invaluable trait to exhibit. Further, having the experience and skill to understand which processes will work without alterations and when some tweaking becomes necessary separates an average project construction manager from a great PM.
With more than 30 years of building expertise, Synergy Builders has a wealth of knowledge in multifamily construction and can help you identify comparable case studies to help you make the best decisions for your development project.
Use technology to your advantage
Being able to access relevant data in real time on the job site is vital to successful decision-making. Utilizing technology to your advantage -- most notably cloud-based solutions -- will result in having access to the latest information relating to your construction project. The more up-to-date the data that you have at your disposal, the more accurate (and expeditious) your decision-making prowess will be.
Successfully completing a multifamily construction project requires a great deal of careful planning -- just as is the case with similar projects of the same magnitude. A skilled construction project manager knows which processes they need to use, and when adjustments to normal routines are necessary. As your project is completed, our team provides full documentation and training to ensure your are completely satisfied. We carry our personal approach post-construction phase, remaining available until you are 100% satisfied with your development project.
Questions? Please feel free to reach out to us today!