The Essential Guide to Corporate Real Estate by Anonymous

Author:Anonymous
Language: eng
Format: epub
Publisher: CoreNet Global

What Is a Project?

Project management is also often confused with program management. The distinction here is that a project has very clear start and end dates and is assigned resources temporarily. A program manager, on the other hand, is one who oversees an ongoing program of work in any given area, which might include project activity. Project management is often outsourced because of its temporary nature. To further explain the distinction, a program manager might oversee a number of individual projects that run concurrently; each would have its own project manager who reports to the program manager. This is a very common approach with large organizations that have multiple projects in multiple locations.

Real estate project development can imply the limited lifespan of a particular development and is often used to distinguish a temporary, tactical project from the broader term “real estate development,” which describes an entire business sector.

Perhaps the word project causes confusion regarding the difference between a project manager and a construction manager. Every construction management activity is a project, but not every project management activity involves construction. For example, a project manager might oversee the enterprise-wide installation of new computer equipment or the retrofitting of all of the company’s properties with energy-saving LED lighting. In these cases, the required skill set is that of a well-organized facilitator for every aspect of the operation in order for the process to reach a final, successful outcome.

Another example of a project might be a lease termination and subsequent transition. The occupier would need a project manager to handle the initial analysis, exit strategy, lease acquisition, office design, procurement, and delivery, including all aspects of the relocation. In large corporations, these functions might be further divided, but the project manager is a vital part of the assigned team.

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