Biggest Challenges Faced by a Project Manager at Luxury Home Builder
Michael's greatest challenge as a Project Manager is managing expectations—specifically, "managing expectations of the client with regards to budget," and effectively managing subcontractors and their evolving scopes of work. This requires careful consideration of budget constraints and ensuring that spending aligns with the client's best interests throughout the project's constantly changing dynamics.
Project Management, Budget Management, Client Communication, Teamwork, Problem-Solving
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Michael Trentacosti
Project Manager
High-End Residential General Contractor
University of Colorado, Boulder
Not Applicable
Environmental & Related Sciences
Architecture, Construction & Design, Real Estate
Operations and Project Management
Video Highlights
1. Managing client expectations regarding budget and project scope.
2. Handling the evolving nature of subcontractor scopes of work and budgets.
3. Balancing the project's best interests with the client's budget and financial considerations.
Transcript
What is your biggest challenge in your current role?
Managing client expectations is a significant challenge, especially concerning budget and the scope of what needs to be built. This also extends to managing people, particularly your subcontractors and their scopes of work.
Their roles are constantly evolving as the project progresses. Similarly, the budget is always in flux, making it a continuous struggle to ensure the project stays within budget while still meeting its objectives.
You are building the project on the client's behalf and spending their money. Therefore, it's crucial to be mindful of this and ensure that funds are allocated in a way that best benefits the project.
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