Selection Criteria of a Project Management Firm

Picking a reliable and trustworthy project management company is one of the most important decisions construction firms need to take. The successful completion of a construction project largely depends on the efficiency and skill that project managers bring on the board. In the project management sector of Australia, various types of people, agencies and officials are involved with a construction project. This makes it crucial that a project manager must have required knowledge, talent and expertise to maintain a sound coordination with all of them.

Below, we’ve highlighted the basic project manager selection strategy that construction firms and builders can use as a guideline.

Interview the project manager -
Interview is a tried and tested method of selecting a project manager. Engage the higher officials of your company to take the interview of the project manager. Face to face to interaction is perhaps the best way to identify the capability of a person. Although the project management companies in Sydney are renowned for having some of the qualified individuals in their firm, still it is a good idea to judge the capabilities of the person through an interview.

Engage a project management firm with right skills-
The first layer of screening a project management firm for a project should be based on their professional skill. The firm should have the experience of working on various types of projects. Whether it is a commercial building or a residential building, the firm must have considerable amount of success under their belt of successfully completing them. Working on all sort of industry verticals would be an added advantage for any management firm and should be the prime selection criteria for the construction companies.

Capable of using all the latest project management tools-
The sign of a top-notch project management company is that it is well-aware of using the latest project management tools. Gone are the days when you can follow the traditional management approach for the success of a construction project. Before hiring a company, you must check how updated the project management firm is, how capable their managers are in using the sophisticated project management tools and software. Remember, only an updated project management firm can give you the best result.

Selecting an appropriate project management firm is a tough task for most of the companies. There are so many aspects you need to keep in mind while selecting them. Our suggestion would be that your selection process should be based on the research you have conducted and real[ quality they possess. 

Trends that are Heavily Influencing Project Management Industry

It has been noted that the trends in the project management sector are evolving at a rapid pace. The use of new methodologies has significantly influenced the project management industry. For the market experts, this change is quite eminent as the expectations of the clients/stakeholders/investors have undergone a paradigm shift.

Here we are highlighting some of the project management trends worth watching out for.

Excessive Use of the Collaboration Tools

With the advancement of the technology and the business model, the use of outdated tools will be eliminated and they are quickly replaced with the most sophisticated collaboration applications. The use of more and more sophisticated tools will be an integral part of the entire project management service. It is hardly a surprise that providers for project management services are heavily using collaboration software apps such as Yammer, Workfront, Podio, Quip, Slack, Jive and more. The use of this sophisticated apps will bring in precision and accuracy in the project.

Risk Management

Earlier it was risk management that was the most neglected part of a construction development project. But the concept of putting greater emphasis on the risk management has become the most crucial nowadays. Analysing the risk factors in a proper way can be really helpful in order to manage unanticipated incidents occurred during the project rather than reacting to them.

Use of Project Portfolio Management (PPM)

Successful project implementation requires to comprehensively follow centralized and efficient project portfolio management (PPM) rules. The adoption of PPM model has gained momentum over the past few years among the reputed project management consultants in Sydney. The sound implementation of the PPM concept can largely improve bottom-line results and the success rates of the ongoing project. It has become unthinkable to conceive a construction project without having a well-prepared project portfolio management solutions.

With the passage of time, unique business trends will emerge and gain acceptability in the project management industry. The challenge is that you need to hire a project management firm that has the ample knowledge of following all the latest project management trends.

3 Important Tips that Construction Managers Must Follow

Managing a construction work is a challenging task. Construction managers need to organize their staff, get the work running smoothly and maintain strict deadline to get the job finished on time. The new trends in the construction management sector make it necessary for construction managers to have diverse skill on efficiently utilizing material, labor and equipment.

Important Tips Construction Managers Should Follow

Know the Codes- To have an ample amount of knowledge about the building and construction code about the construction area is an added advantage for construction managers. They need to seek advice from subject matter experts, lawyers and from their legal advisers about the construction related rules and regulations imposed by the government for building a project on a particular site. By knowing the rules and complying them properly could keep the construction project out of any legal harassment.

Properly Handle Construction Workers- It is the workers who play an important role to any construction project. So managing and handling them in an efficient way is crucial for the successful completion of the project. There are few procedures building and construction management companies can follow to get the best out of their workers.

• Show you have a good attitude towards them.
• Appreciate their work and create an employee rewards system for showcasing the talents of construction workers.
• Make themselves aware of the health and safety risks in the construction site.
• Obtain feedback from construction workers about design elements and structural components.
• Arrange leadership and supervisor training for construction workers.

Monitor Everything Closely- Construction and project managers have to be on their toes every time. They simply can’t sit back and relax just because everything has been arranged properly. Project managers need to keep a close eye on every development taking place in the project. Once the work has begun, follow along with everyone's progress, provide assistance when required and keep close coordination with everyone involved in the project.

Project managers have impacted positively on the construction project. They comprehensively assess all the risk factors and play a pivotal part for the success of a project. That's why it is important to hire them for any building and construction projects.

Why Sydney is the Ideal Place for Investing in Property

Investing in the booming property development market of New South Wales is an amazing way to significantly increase your personal wealth in a relatively short period of time. Becoming a property developer you can acquire valuable properties at the right price. As per the property development consultants in Sydney, you can enhance your property portfolio rapidly without much financial risk.

In comparison to other rapidly developing cities around the world, Sydney is way ahead. If you go through the chart you can easily find out the reasons why it is a clever decision to make an investment here. Brisbane is topping the chart but the market over there is more volatile, whereas, in Sydney, you can expect a long-term stability.

Comparing to an average investor, when you put money on property you get a greater return on your investment. But at the very beginning you need to understand what property development exactly is.

What is Property Development?

From purchasing the land to development of facilities and buildings to meet customers' requirements, a wide range of activities comes under the term property development. Different types of buildings are developed by property developers that include-

• Distribution centres
• Business parks
• Warehouses
• Office buildings
• Parks
• Residential complex
• Commercial establishments

Why Invest in the Property Market of Sydney?

All over Australia, it is Sydney that is considered to be the finest place for property investment. Sydney real estate is chugging along nicely in some regions with buyers vastly outnumbering sellers. The professionals of project management in Sydney, recommend the investors to remain optimistic about the huge potential of high return from investing in property here.

• For the last few decades, the rapid rise in the population is noticed in Sydney. It makes it quite obvious that buying a property here will likely to provide you a huge return.
• It has been noted that lower-priced areas in Sydney are also expected to go through a revival. And it is suggested that this growth trend is likely to continue steadily for a long time.
• Property development consultants are expecting to witness a period of stable to mildly increasing prices for the Sydney investment property market with particular pockets with large growth possibilities.

The gains can be great but the investors need to make a precise decision before taking an investment decision. Aspects such as type of property, location, the amount of investment and expected returns should be concerned thoroughly.