Why hire a project manager?

The average cost for an office build-out has grown by 2.7% over the past year, according to our research. With increased project costs, hiring a PM may seem like an unnecessary additional expense, but the true cost of not hiring one can be monumental.

A PM saves money through conceptual and detailed estimating, data benchmarks, capital planning, bid analysis and proactively solving challenges that could impact key business objectives like occupancy dates, budget and programming requirements. This prevents rework, allows you to maintain budget integrity and helps you avoid costly surprises.

Investing in workplace design has become a crucial strategy for retaining top talent, enhancing employee productivity and matching your brand. When you partner with a reputable project management firm that has a strong network of proven industry suppliers and vendor partners and the ability to negotiate the best value on your behalf, exceptional outcomes can be achieved on your project.

And what goes hand-in-hand with the value of money? Time. It is essential to understand the significance of time alongside monetary value. In the realm of capital projects, time holds immense importance as a limited and valuable resource. The consequences of subpar project performance are striking. In fact, every 20 seconds, an astounding $1 million is wasted, according to the Project Management Institute.

The silver lining? A good PM will take full responsibility for the project—from start to finish—allowing you to concentrate on your regular tasks while avoiding delays. In addition, PMs are experts in coordination, scheduling and identifying areas where the team can be proactive to meet deadlines. By minimizing redundancies and maximizing the team's abilities, a PM can save time and resources, a valuable asset that cannot be regained once lost.

Flexible workplace for new global HQ saves $500,000

Zynga, a popular gaming company, partnered with JLL to upgrade their workplace during lease renewals. This collaboration allowed Zynga to successfully relocate to San Mateo, with JLL driving a notable 30% reduction in construction costs for their new 60,000-square-foot office.

When it comes to the success of a project, various factors could contribute to its erosion, including both time and financial considerations. However, one common culprit responsible for these setbacks is scope creep. Effective project management practices entail maintaining control over project flow and ensuring team members adhere to the original scope of work. This principle becomes particularly crucial as organizations maneuver through the intricate process of optimizing their office space. By upholding project scope, organizations can safeguard against unnecessary deviations and maximize project outcomes.

Take this scenario: Your business wants to include a new office tool for employees that initially focuses on file sharing and task management. However, as you dive deeper into the project, you decide to incorporate additional features like chat platforms and employee tracking. It’s crucial to be cautious, as adding too many extras can complicate the plan and increase costs. But with a vigilant PM, you can avoid these issues. They will assess what features are necessary versus desirable, ensuring a balanced approach to project scope.

An expert PM knows that there's no one-size-fits-all answer. They roll up their sleeves, tailoring their strategy to meet each client's specific needs and wants. With their finger on the pulse, they quickly adjust the project's size as it needs change, ensuring it always hits the mark. Their skills bring value far beyond the immediate fiscal outcomes as they improve time efficiency, cost management and risk reduction. Hiring a project manager isn't simply a position to fill; it's an investment in your company's lasting success.

Learn more about how JLL can take real estate challenges from complexity to clarity here.