The Project Management Timeline Part 1
Managing projects is a complex task that can be influenced by an array of factors at any point in the project timeline. Regardless, successful project management is integral if you want to ensure that you meet your project milestones and deliver a finished product during the time allotted in the contract. After all, abiding by the contract is essential to any successful contracting business and often leads to increasingly lucrative opportunities.
According to the Project Management Institute (PMI), project management is the “application of knowledge, skills, tools and techniques to a broad range of activities to meet the requirements of a particular project.” In the construction industry, contractors must be skilled at project management or employ talented project managers to ensure that contracts are upheld and clients are satisfied. Breaching a contract typically leads to disputes, costly litigation, and severed ties.
Are you managing your projects sensibly? In this two-part article, the Fort Lauderdale construction lawyers at Cotney Attorneys & Consultants will provide an overview of the project management timeline to help you stay on schedule and avoid a potential dispute.
Initiating the Project
Project conception and initiation is considered the first phase of any construction project. At this juncture, the owner has an idea and wants to act on it. Typically, he or she will consult with construction professionals to ensure that the project is not only doable but financially sensible. Some considerations will include the proposed completion date, the amount of funding available, and the legalities involved with the project. Generally, the owner or the contractor the owner has opted to work with will consult a cost estimator to verify the feasibility of the proposed project. Once all of these boxes are checked off, the owner can proceed to the planning phase.
Planning the Project
The design plan must be drafted in writing and delivered to the owner and all other pertinent parties involved in the project. Once everyone is on the same page, the contractor will collaborate with his or her team to ensure that the project owner’s goals are closely considered while the project is being planned. If there are multiple owners or project stakeholders, the contractor will need to consider all of their needs before proposing a complete project plan.
Ideally, you will generate a better understanding of the cost, scope, duration, and quality of the project through these discussions. Additionally, you should institute some form of risk-mitigation plan to diminish the effects of any potential snags during the building process. Any issues that can be discussed, addressed, or planned for ahead of time can result in significant savings of time and money. Engage in talks with trade partners and subcontractors early to maximize the efficacy of the planning phase.
To learn about the final three stages of the project management timeline, read part two.
If you would like to speak with a Fort Lauderdale construction lawyer, please contact us today.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.