While self-managing your home may sound great, an experienced professional could be more cost-effective.
After your plan has been approved by building control, you will need someone to oversee the work.
This is the PM, the project manager. He will handle any issues along the way and ensure that the build is completed on time.
What is involved in managing a project? Is it better to let a professional do it or to assume the responsibility yourself?
What is project management for self-build projects?
PMs are responsible for procuring and delivering buildings within budget and on time. They also ensure that the building is delivered to the desired quality. General management skills, including problem solving, troubleshooting, quality-checking, diplomacy and in-depth knowledge about construction practices and the built environment, are key skills. The PM will also supervise safety and health on the site (including Covid protocols).
The PM will set up a schedule. They will appoint contractors, tradesmen, suppliers, and services and determine when they need to be present on the job site. They will request quotes from contractors, negotiate pricing structures and any discounts with suppliers. The project manager will also need to confirm contracts and tenders.
PMs must communicate closely with homeowners. Not only with the homeowner, but also with neighbours.
This will all require significant dedication. Some people view managing a self-build as a full-time job. Others see it as a hobby. The key question for self-builders is whether they have the necessary skills and how they will fill the knowledge gaps.
These responsibilities require a solid knowledge of finance and construction. Self-builders can often struggle to take on this role.
How much does it cost for a project manager to be hired?
A project management professional can be hired to perform the PM role for a cost of between 5% and 8% of your overall budget. This could amount to as much as PS10,000. It’s not hard to see why self-builders consider this an ideal area to cut down on their budgets and manage their own projects. A professional could save you a lot of money.
A professional PM is able to manage the project’s finances. This is where the real value lies. Professional PMs are trained to know exactly what is required to put together the plan and to budget accordingly. Because they have planned well, there is less chance of things going wrong. They are more likely to have experience in dealing with trades and to spot problems early, before they become a problem.
Before you dismiss the idea that a professional can help, think about whether the benefits might outweigh the cost. You will have to take on many responsibilities, and if you do it wrong, it could end up costing you a lot.
Who can manage my self-build?
This could be your architect or builder, or a freelance PM, or any other professional in construction (such as a quantity or structural engineer). Each scheme is unique, so it is important to be specific.
Do your research to find the best professional for your needs.
If you are looking for someone who is familiar with the area and has a history of similar projects in the area, this is particularly important. You should also consider the experience of your potential project manager.
Not all architects specialize in one-off builds, and it is possible for one professional to have vastly different knowledge about the construction phase. Instead of actually managing a project, architects often concentrate on the design, technical, and contract aspects of a building.
You should be ready for some responsibility if you decide to manage the project yourself. It is not a good idea to try it and then have things go wrong, so that you end up paying twice for the work. You also need to have enough time. It can be difficult to return home at night to finish your project. The stress can cause strain in relationships with family and friends.
We have many years of experience dealing with self-builder claims and believe that a PM who is competent in professional matters is essential.
Before you dismiss the idea that a professional can help, think about whether the benefits might outweigh the cost. You will have to take on many responsibilities, and if you do it wrong, it could end up costing you a lot.