Key Objectives of Retail Construction Project Management

Retail construction project management can be challenging and complex, requiring an experienced, steady hand to keep projects on track.  Effective retail construction must have a defined time frame and meticulous results oriented plan, for a successful project completion. The client’s goals must be clearly defined during the program planning process by the project manager. Cornerstone’s retail program planning team in the New York Tri-StateArea can help you manage and execute your retail construction project successfully by ensuring all your objectives are met. Six factors that go into effective retail construction project management include:

·        Cost management: One important objective of construction project management is to keep track of project budgets and continually monitor them to avoid going over budget. The project manager should identify & mitigate cost escalations during project execution to ensure the project is delivered within the budget.

·        Time management: Another objective is to make sure the project is completed on schedule through effective time management and execution. Project managers set milestones & prepare charts to track task time. The manager must take charge of scheduling activities, timeline tracking, and resource assignment to ensure that critical tasks that will be delivered on time.

·        Scope Management: The third objective of construction project management is to keep the project in scope by monitoring, identifying, and adjusting for anything that can impact the project's scope. Project scope identifies the features & functionalities that must be included and defines the boundaries of the project. Without a clear scope projects may easily get off track.

·        Risk management: The fourth objective of construction project management is to analyze and reduce potential risks. Project risk management is the process of recognizing potential problems that could cause trouble for your project, analyzing how likely they are to occur, and then taking action to prevent the risks.

·        Communications management: Construction project management ensures effective internal and external communications from project planning through project closeout; from arranging meetings and ensuring that all stakeholders are aware of the project’s progress to ensuring sub contactors understand their responsibilities and timelines. Project communications management ensures prompt and appropriate distribution of project information.

·        Quality management: Managing quality is one of the fundamental objectives of construction project management which can be achieved by maintaining the balance of key objectives. Quality management ensures all key objectives are met and provides added value by improving the efficiency of the overall process.

Hire our renowned retail construction project management team in the New York Tri-State Area to add value to your project and ensure all functional requirements of your retail project are met.