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How Real Estate Project Managers Can Mitigate Cost Overruns in 2023
The commercial real estate sector looks to be on course for a challenging year in 2023.
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Key Takeaways From Northspyre’s CRE Developer Project Manager Survey
Northspyre commissioned NewtonX to survey real estate project managers in the U.S. this summer. The research firm interviewed dozens of project managers employed by small, medium, and large-sized companies across the country working with residential, retail, office, hospitality, industrial, and mixed-use buildings.
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The Art of Engaging CRE Development Stakeholders
Real estate development is not for the faint of heart. Even for high-performing players, real estate projects are riddled with challenges and involve many moving parts. Ultimately, these challenges leave most developers with cost overruns and missed deadlines.
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Everything You Need to Know About Real Estate Return on Cost
To be successful in the commercial real estate sector, developers need foresight. An in-depth understanding of the variables that could impact a project’s development is crucial to its execution. And knowing a real estate property’s return on cost is essential to secure investor funding. The long-term financial viability of a project has always been a…
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4 Commercial Real Estate Certifications Project Managers Should Earn
In the commercial real estate market, nothing is more valuable than information. Understanding how macroeconomic trends affect the sector is crucial to navigating challenging events like a looming global recession. Knowing which asset classes will provide strong ROI even when severe headwinds are battering the segment can mean the difference between having a good year…
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4 Real Estate Development Tools Project Managers Can’t Live Without
In the past, real estate project managers had to depend on force-fit solutions like spreadsheets to monitor the status of their projects. However, thanks to recent technological innovations, teams no longer have to deal with limited project visibility, instinct-driven forecasting, and laborious critical reporting.
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What Are Construction Hard Costs?
In commercial real estate development, your expenses will fall into two categories; construction soft costs and construction hard costs. Soft costs are related to predevelopment, like purchasing land, hiring architects, and paying inspection fees. By contrast, hard construction costs are directly related to the physical construction of a building.
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How to Make Your Real Estate Development Firm Indispensable
Real estate development is a capital-intensive, high-risk business that’s extremely competitive, which makes launching a new company within the space daunting. Establishing a reputation with owners and investors isn’t easy.
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How to Speed Up Real Estate Development Reporting
Reporting is an essential part of real estate development but also a source of frustration. Drafting draw request packages for complex projects can involve hundreds of thousands of documents, and gathering that information is very labor-intensive. Then there’s all the manual work involved with inputting bid, invoice, and change order data from countless emails onto…