Are project managers (PMs) expendable? Many business owners and company leaders seem to think so. The idea of hiring a project management firm is often met with skepticism because for many leaders, a PM's task should already be incorporated within the responsibilities of the different team managers. Other experienced owners, on the other hand, believe that project management is merely a passing trend and an unnecessary cost. For them, spending on activities directly linked to creating revenue growth or improving customer satisfaction is more important as their impact are measurable and concrete; whereas, the impact of project management can be difficult to measure.
Necessary in the shifting business environment
Owners who believe that project managers are expendable might be missing out on a lot of opportunities for improvement and growth. Project management is actually considered an effective solution to the post-recession business environment by several organizations. SMEs and multinational firms have proven that investing on this venture can provide a strategic and competitive advantage especially now that most companies aim to reduce costs and improve process efficiency while working with a diverse and global workforce. If done properly, project management can ensure that resources are maximized, targets are met, and deliverables are submitted on time.
Areas where project management can add value:
- Planning and inception: PMs are capable of seeing and anticipating future problems and hindrances that companies can find useful during the planning and inception stage of a project. They can also coordinate with different stakeholders and promote dialogue, thereby improving communication from the get-go.
- Transitions: Implementing a new system or a different process while ensuring that the project runs as usual can be more challenging without good management. A PM can intervene, assist in anticipating possible bottlenecks, and create solutions and workarounds to make sure that the transition goes smoothly. He or she can monitor the existing processes and control the resources and means to achieve the project goals.
- Strategic implementation: PMs can help improve the focus of the organization and transform strategies into actual initiatives. He or she can also monitor the progress of different stakeholders and ensure that everyone is performing according to the plan.
Project management, especially in real estate, is no longer just an idea or a vague skill. Working with the right property manager can create a vital impact on the entire organization--he or she can improve organizational focus, maximize limited resources and capital, adhere to budget, and provide the flexibility that every business needs in the changing environment.