Project Management in Building Projects Insights from Cost Logic

May 20, 2024

Project management in building projects involves overseeing and organizing the various processes required to complete a construction project successfully. A project manager coordinates the interests and needs of multiple stakeholders, including contractors, architects, engineers, clients, and suppliers, to ensure the project is finished on time, within budget, and to the desired quality standards. Developers typically hire a project manager to leverage their expertise in managing large-scale builds that demand extensive oversight and quality control. Although they may appear on-site occasionally, their primary role is usually based in an office setting. At Cost Logic, we provide insights into the roles of a project manager and the benefits they bring to your building projects.

Project Advisory

Project advisory encompasses the consulting and advice-giving services provided by a project manager throughout the different stages of a project, from design and approval to construction. A competent project manager offers a wealth of expertise in the construction industry and can provide valuable advice from the perspectives of a developer, manager, and stakeholder. These advisory services empower clients to make well-informed decisions, optimizing the outcomes of their projects.

Feasibility & Acquisition

Feasibility involves evaluating the potential of a construction project by assessing its technical, financial, and environmental viability. This process includes site investigations, zoning and building code reviews, market demand analysis, construction cost evaluation, and risk assessment. The objective is to determine if the project is feasible and should proceed to the development stage.

Acquisition entails obtaining the necessary land, properties, or rights required for the construction project. This step includes negotiating with property owners, securing permits and approvals from local authorities, and conducting due diligence to ensure the site’s suitability for the intended use. Acquisition typically follows the feasibility study and precedes the design and construction phases.

Council Approvals

Navigating the council approval process can be complex and thorough, as it involves meeting numerous stakeholder requirements for new projects. Safety, privacy, shared components, public assets, and environmental concerns are all critical considerations, particularly for large-scale projects. A project manager can streamline the application and approval process, thanks to their familiarity with these procedures.

Contractor Selection

Selecting the right contractor is crucial for the success of a construction project. Incompetent contractors can easily derail a project, especially large-scale ones that involve extensive contract work. The vetting process can be time-consuming and requires thorough background checks to ensure legitimacy. A project manager typically has a network of reliable contractors, including building cost consultants, builders, landscapers, and architects. They can handle the background checks and ensure that only trustworthy contractors are engaged for your project.

Acquiring Finance and Working with a Building Cost Consultant

A project manager is instrumental in helping developers secure financing for construction projects. This includes:

  • Assessing and reporting the project’s financial viability, providing lenders with detailed financial projections, construction costs, and risk assessments. Here, a project manager collaborates with building cost consultants like quantity surveyors to ensure accurate and optimal calculations.
  • Identifying suitable financing options for the developer, including researching, evaluating, and negotiating with different lenders such as banks, private investors, and government programs.
  • Managing the loan application process on behalf of the developer, ensuring all necessary documentation is prepared and submitted promptly.

Throughout the construction phase, a project manager continues to work with a building cost consultant to monitor costs and ensure the project remains within budget. They identify potential cost overruns and develop strategies to mitigate these issues.

Construction Management

During the construction phase, the project manager actively oversees the project’s scope, timeline, and budget, working closely with the construction team to meet key milestones within the agreed timeframe and cost. They maintain quality control standards and manage risks effectively. Additionally, the project manager acts as the central liaison between contractors, workers, and stakeholders, facilitating clear communication throughout the project.

Does Your Project Require a Building Cost Consultant?

At Cost Logic, we offer comprehensive and reliable budget estimating services for construction projects. Our team of building cost consultants and quantity surveyors can accelerate your development process and ensure fair deals for all parties involved. We optimize your budget and ensure project feasibility by providing precise cost estimates.

For more information about our estimating services available in Sydney, Melbourne, Perth, and Brisbane, contact us at info@costlogic.com.au, call +61 423 609 877, or visit our website at www.costlogic.com.au.