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.

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.

Sustainable practices in workplace projects are no longer optional but essential. A skilled project manager can embed sustainability into every phase of your project to ensure the use of eco-friendly materials, implement energy-efficient designs and advocate for waste reduction practices. By incorporating green building standards and certifications like LEED, a PM can significantly lower your project's environmental footprint and, ultimately, result in long-term cost savings due to reduced energy and resource consumption.