Are your projects meeting their milestones and wrapping up by the date established on your contract? Skillful project management is essential to upholding contracts, and when you consider the alternative — a breach of contract — it quickly becomes apparent that a well-thought-out project can not only result in the most desirable payout, it can protect you against a potential dispute or even litigation.
In part one of this two-part series, the Fort Lauderdale construction attorneys at Cotney Construction Law discussed the first two stages of the project management timeline: project initiation and the planning phase. Now, we will discuss the final three stages of the project management timeline: project execution, control, and close.
Executing the Project
Once the project has been sufficiently planned, it’s time to execute the project. The contractor will assemble his or her team and begin working. High-level tasks such as assigning teams, managing schedules, directing status meetings, and making any necessary project plans will run simultaneously with tasks taking place on the project site. As the project gets underway, the contractor will rely on supervisors to provide regular status reports thus ensuring that milestones are being met in a timely manner. As a contractor, it’s imperative that you spend time in the office and on the project site to confirm that progress is being accurately gauged.
Controlling Project Performance
This stage of the project management timeline occurs concurrently with the project execution stage. The progress the contractor has closely monitoring will produce data that can help indicate the probability of success for the project. These key performance indicators (KPIs), help establish whether or not constraints related to cost, time, and quality are being observed. Skilled contractors can utilize KPIs to measure the degree of deviation from the project plan that was completed in the second phase of project management.
Bringing the Project to a Close
Once the contractor has verified that the project has been completed according to the specifications outlined in the contract, they can close the project. The final step of the project management timeline includes an evaluation of the project. The contractor might ask their workforce for insight on how to improve the project. What issues arose during construction? How can productivity be increased in a future project? What were the most challenging aspects of this project? This information can be extremely helpful for future projects; plus, it allows you to recognize which workers performed at the highest level. These are the employees you will want to retain for future projects.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.