To Project Manager Or Not To Project Manager… That Is The Question
When you have made the decision to start a construction project, whether it is a major remodel of an existing building, or starting from scratch, there are several issues to consider. The scope of the project will play a large part in your decision whether or not to hire a project manager to oversee the project progress. Beginning with the initial property purchase, having the right professionals involved can make each step move along smoothly.
Having knowledgeable Real Estate agents working with you during your property acquisition will help ensure that the resulting purchase will suit your needs. It is important to be aware of whom the agent works for so that you know that your best interests are addressed. In most transactions, your agent may be representing you, and will do their best to meet your needs, but they ultimately work for the seller because they are paying the commission.
Once you have your property purchase complete, and your construction plans are finalized, it is time to decide if you need to hire a project manager. There are several factors to consider in making this decision. Questions like how much time the project will demand from you, your knowledge of construction practices and contractors, the size of the project and more should be considered.
Hiring a project manager can help to remove many obstacles that arise because of their level of experience. This is especially true in the case where you are not able to be on the jobsite and you are not able to be contacted at all times.
A major factor in hiring a project manager is your budget. Before trying to hire a project manager, you need to know how much you can afford to spend. Then, you will negotiate with them what services you expect and what compensation they will receive. Entering the negotiations knowing how much does a project manager make and what you have budgeted for them will help keep you from spending more than you were prepared for. Project managers average about $115,000 per year, but can vary widely. Salaries can range from about $50,000 to about $175,000 and in your negotiations you can discuss the project schedule. If your project is a short term project, you may be able to talk in terms of weekly pay instead of annual salary.
The decision whether or not to hire a project manager can rely on several factors. Among these ar your budget, the size and scope of the project, the amount of time you are able to devote to the project, and your personal experience with construction issues. While hiring a project manager can take much of the stress out of a construction project, you have to be prepared to allow them to manage the details of the job. You also have to be confident in their abilities to meet your expectations and keep the job on track.