THE IMPORTANCE OF HAVING A CERTIFIED PROJECT MANAGER

Certified Project Manager – Project management involves the setting up of all the elements required for a project to work in sync. The complexity of these elements, if not dealt with a lasting technique, may lead to tragic results for the project. The function of a project manager on real estate and construction projects can differ from one project to another. The consistent duty of a project manager is to guarantee an on-time and on-budget result without compromising on quality.  Before construction begins, the project manager may be responsible for site selection, securing zoning and entitlements, appointing project team members, and formulating a plan and budget; which will lay the foundation for the rest of the project.

Why Is Project Management Important in Real Estate?

Real estate projects are costly and frequently involve high visibility undertakings with many stakeholders. Companies that govern their real estate projects or that regularly undertake real estate projects across a network of buildings must cultivate systems for managing projects for the following reasons:

– Budget Management: Project managers employ and manage multiple contractors, watch cost increases due to alteration in specifications, monitor budget for materials, pay vendors, use financing properly and follow dozens of protocols to keep a project at or under budget.

– Time Management: Project managers likewise keep track of time. Not ordering supplies on time, failing to coordinate among contractors or forgetting to pull a permit that takes numerous weeks can slow a project down. In turn, this can add to a project’s costs (including costs not directly tied to the project itself).

– Risk Management: All projects risk going over budget or taking longer than predicted. They also expose corporations to risk. Project managers are tasked with reducing risk by hiring only properly licensed or bonded professionals, securing sufficient project insurance, designing and managing contracts that clarify all parties’ obligations, and other tasks designed to avoid litigation or unwarranted expenses.

Certifications look great on paper, but why should you hire a  Certified Project manager for landed properties and real estate construction?

1.They stand out.

Less than a million individuals have project management certification globally. Having the validation distinguishes them from other project managers.  If you’re looking to hire a project manager and you have two very qualified and experienced candidates, all things being equal, the certified project manager gives you that extra edge.

2. They understand financial languages

One memorizes a lot of vocabulary in project management courses. They don’t necessarily use those vocabularies in their daily interactions, but they do understand financial languages perfectly. They can deal with budgets and work with professionals who expect you to know their vocabulary.

3. It increases clients’ confidence

Clients need to be confident about a project manager’s ability to execute projects. By hiring a Certified Project Manager, you can be assured of having a well-executed project that is free from structural errors. Isn’t it better to contact a certified project manager?

4. They have put in the time, money and effort

While becoming certified can be costly, complicated and time-consuming, it shows a high level of devotion to project management as a profession.  According to PMI’s Pulse of the Profession 2015 study, in institutions where at least one-third of project managers are certified, a greater number of projects are completed on time, within budget, and within scope. Project management certifications are seen as an indication of potential success and they are also the most coveted certifications worldwide.

5. They are exposed to the current trends of the business

Certified Project Managers are kept abreast of the current standards of project management, best practices, techniques, and trends.  They exhibit better performance as they are exposed to new technologies and tricks that would assist them in organizing the projects. The set benchmarks for the certification exams are higher as compared to other projects which will help them with an actionable set of best practices.

In conclusion, the statistics of project management in recent years clearly indicates the impressive role led by certified project managers. It has been confirmed that 80% of high-performing projects are led by a certified project manager and 77% of the high performing companies understand the value of project management as against 40% of the low-performing companies. At Lansar Aghaji and Co, we will provide you with certified project managers for your real estate management and construction projects that guarantee the efficient utilization of your resources and personnel.

We hope to hear from you soon.