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If you’re like most commercial real estate project delivery teams (or project leads), your day-to-day is busy. Really busy. Whether you’re the team coordinator or an industry veteran with 20+ years of experience, you know that running a major development project is complex and, more often than not, chaotic.
You may have noticed that your team has a specific way of managing projects - one that your superior or firm has relied on for ages - that employs the same processes and methods across a diverse portfolio. Think one-dimensional spreadsheets, clunky legacy software, error-prone back-of-the-envelope tracking, etc. The problem is, most of these strategies are outdated, ineffective, and slow teams down. The other problem is, you’re aware that the status quo may be holding you back from being more efficient, but your hands are tied.
You may wonder if every project team feels the same pressure day after day, month after month, as they work tirelessly just to keep projects on schedule - or if they’ve somehow cracked the code on modernizing processes and leveraging data. But you’re too focused on running your project - tracking change orders, pulling together monthly cost reports, and managing 50-200+ vendors - to think about alternative strategies, let alone research or implement them.
We understand. So we did the work for you.
We’ve spoken with more than 100 real estate professionals on how they approach project management and have categorized the five main archetypes, ranging from the Mom & Pop Shop to the Modern Real Estate Team.
Where do you stand? Check out the scale below to identify your rank, size up your competition, and see where you may have room for improvement.
*This post was updated on 2/14/23
Tag(s): Real Estate Development
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