Building Project Management

Typically, a construction project unfolds through five distinct phases under the guidance of the project manager. These phases are:

1. Planning and Development: The project manager evaluates the feasibility of the project, conducts capital budgeting, and gathers extensive input from stakeholders to decide whether to pursue the project.
2. Design: This involves evolving the project concept into detailed blueprints for the final design, with meticulous consideration of timelines and costs.
3. Preconstruction: This entails creating a comprehensive roadmap that defines and allocates resources, establishes mini-budgets, outlines timelines and deadlines, assigns tasks, and maps out work operations.
4. Procurement: Encompassing sourcing, purchasing, and transporting materials and services needed for project completion, the procurement phase is critical to securing the necessary resources.
5. Construction: The culmination of the project, this phase involves bringing the concept to life and making adjustments as needed to meet new circumstances or goals.

Throughout these phases, the project manager plays a crucial role in orchestrating and optimising each step to ensure a successful and efficient project outcome.

Within the framework of the stages outlined in a construction project, commercial project management seamlessly integrates in four key ways:

1. Ideation and Research: Commercial project management involves a comprehensive assessment of the proposed project. Rigorous research and data-driven analysis, including capital budgeting, feasibility studies, financial breakdowns, and brainstorming, are conducted to ensure a high-value project while managing risk effectively.
2. Define and Plan: The project management addresses crucial details including outlining the project’s scope, establishing a feasible timeline, identifying required resources, creating a reasonable and accurate budget, and setting key performance indicators (KPIs) to gauge success.
3. Determine Roles: Commercial project management plays a crucial role in clarifying everyone’s responsibilities. This proactive step helps prevent confusion, redundancies, and delays by ensuring a clear understanding of each team member’s role in the project.
4. Finalise and Execute: Project managers review and finalise the plan, ensuring that the process remains coordinated and efficient. This stage involves meticulous tracking and monitoring to ensure the project is meeting the set KPIs and staying on course for successful execution.

By seamlessly integrating into each of these crucial stages, commercial project management becomes an essential driving force in ensuring the success, efficiency, and coordinated execution of construction projects.