Successful project management relies on structured, defined processes and consistent communications among project participants and stakeholders. Large-scale real estate ventures employ robust processes to create a framework that incorporates recurring schedule and budget updates into decision making, communications and management strategies. These processes drive results and profitability through reduced decision-making time, consistent reforecasting of results and a consistent focus on key profit drivers.
Spruce Creek Partners provides project management tools and services that incorporate best practices employed by large real estate ventures, scaled to meet the needs of smaller projects. Our development management services fulfill a variety of roles depending on the needs and capabilities of an existing project team. We tailor a scope of services directly to each project’s needs, offering services that include contract management, coordination meetings, construction updates and reporting for stakeholders.
Spruce Creek Partners can function as a development manager or owner’s representative, providing coordination of planning and approvals, construction management and financial oversight for real estate projects. We begin the process by establishing a project management plan built around budgets and schedules to define clearly articulated goals, benchmarks and deliverables. The project management plan provides a basis for evaluating contracts or change orders and for variance analysis, so project updates track in real-time the impact of decisions on all aspects of the venture.
Development firms often find the demands of construction or project management prevent teams from dedicating sufficient attention to the overall project status, or producing regular reports for project stakeholders. Spruce Creek Partners can function as a member of the development team, driving the reporting process by coordinating regular meetings with team-members and producing project status reports, financial updates and other documents necessary for reporting. This can be performed invisibly, by creating templates for department managers to complete and producing reports with data gathered from team members or visibly, as a representative of the team, managing relationships with investors, lenders and other project stakeholders.
Spruce Creek Partners delivers the benefits of disciplined project management to smaller firms, enhancing performance by implementing best practices employed by large institutional real estate ventures. We tailor our services around the unique demands and strengths of an existing project team, adding value by improving management processes and structure.