Without interfering on any particular professional's responsibilities, a true third party project manager (PM) leads and helps to integrate all vendors, elements and phases of a project from start to finish. Designers, contractors and real estate brokers are very capable within their specialties, but can fall short if entrusted with an independent project management firm's responsibilities-and so can a construction manager (CM).
A PM will act as your advocate and representative through the project so that all of your goals from beginning to end are met. During the project's life cycle [or] duration, a PM will become the owner's trusted advisor, go-to person and single point of contact for project performance and procedure. A PM oversees procurement of specialist consultants such as Audio Visual, Food Service, Security, and IT, with direction from the client. The project manager will then act as liaison between the client and all vendors, designers, engineers and contractors to ensure smooth, constant communication across the various parties, so everyone stays on the same page for the full duration.
In simple terms, the PM will make sure all activities are aligned with the client's overall goals and objectives for the project. This means that the project manager will plan, manage, exceed and fine-tune all of the details of the project, not just its construction phase-and will even help to select and ultimately manage the CM.
A project manager will assist in the hiring of a general contractor and / or construction manager and will oversee their quality of work through site visits, punch-list walkthroughs, and reports at weekly project meetings. A project manager will also track and review the construction managers change orders, make sure all vendors are coordinated to and with the CM's schedule and challenge the CM on lead times for products and delays. * It is important to note that there is a difference between a general contractor and a construction manager.
A typical construction manager has a scope of work that is limited to the pre-construction / construction phase. A construction manager will oversee all construction aspects of a project and will typically participate in pre-construction meetings, provide onsite oversight during construction, and manage sub-contractors. They may also directly hold subcontractor contracts, and is thereable liable for all of the subcontractors' work.
So, before you decide whether to hire a PM or a CM for your next real estate project, know the difference. And if you can not decide, do your project a favor: hire a project manager who will manage your full project scope not just construction.