FM

The 3 pillars of project management

August 26, 2021

Demand for great project management skills with the FM sector has been on the rise over recent months.

Facilities Management providers are delivering more projects as companies consider the post-Covid workplace, and begin to realise the impact that FMs can have an important impact on business strategy.
 
Facilities Management providers rely on Project Managers to run projects while ensuring minimal disruption to day-to-day operations.
 
An experienced Facilities Manager will likely have project management skills and be able to take on projects. But taking on a dedicated PM reduces the risk of missing deadlines and slipping quality.
 
The role and responsibilities of Project Managers often vary from business to business. Still, many facilities companies look at individuals with the ability to develop a pipeline of work with new and existing clients. Project Managers also need to be able to price, quote, tender, and deliver services to clients.
 
Regardless of the industry or sector, there are three main pillars within Project Management. These pillars dictate the effectiveness and efficiency of every project.

The three project management pillars are:

  • Time – affected by resources, experience, planning, quality, etc.
  • Cost – imperative all projects are delivered to an agreed cost/budget.
  • Scope – outcome, list of deliverables. Changes in scope can affect time/cost.
3 pillars of project management

Achieving quality

These three pillars, sometimes referred to as the project management triangle, work together to define the quality of the project's outcomes.

Quality is the key objective for every Project Manager when delivering work for their client.

A successful Project Manager must keep a balance between all three constraints to achieve the desired quality on a given project. The better the quality of the outcomes, the more likely they'll be to win work from that client in the future.

Time

If you want a project done fast, it’ll cost, especially if you can’t bend the scope. A short deadline requires more resources to get the work done on time.

And the better the scope is, the more accurate the timeline will be to reflect the project works that need to take place. The best way to get this right it to make sure you consult your whole team, so that you’re not underestimating the amount of time needed for each project task.

Cost

When putting together the project budget, you need to consider three main things. Resource costs (based on estimated hours), materials, and equipment.
 
The key with project budgets is communication – early and often! Where expenses change, be sure to explain the reasons for this as early as possible and if you can, present a mitigation plan.
 
If the extra cost is due to scope creep, be sure to make your client aware. Remember, the client isn’t a project management expert. You may need to show them the financial impact of the new addition they’ve asked for.
 

Scope

It’s essential to define and document the project goals and requirements before the work begins. This will help everyone know what ‘done’ looks like. The scope will play a huge role in determining project cost, so listing out every deliverable is important.
 
Project scope often changes mid-project. Documenting and monitoring those changes should be a part of your project management toolkit.

To be successful in Project Management, you have to be able to juggle these three pillars. If you can work within these constraints, balancing them against one another, then you’re going to be sought after!

The most important thing is communication – gathering info from your team, and relaying information back to the client.

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