(507) 210 1675
Plaza Credicorp Bank, 5th Floor, Calle 50, Panama

PROJECT MANAGEMENT

Project Management Service provides the owner-client with either comprehensive or selected oversight of technical and administrative aspects of any real estate project, to successfully achieve the expected outcome within the defined constraints and guidelines.

This service is customized to each project, from its inception through the closing and delivery to the owner, or can be tailored to a certain stage (s) or specific activities that the owner requires.

The focus of Project Management Services is to consistently act in the owner-client’s best interests for any scope or during any phase of a project, as required.

Every project passes through 5 stages:

Initiation: Define the purpose, scope and expectations of the owner-client and establish the project management team and requisite skills.

Planning: Articulate the activities, steps and requirements for smooth execution and successful completion of the project in accordance with the agreed project scope and constraints.

Execution: Perform the work in an organized manner and according to plan.

Monitoring and Control: Verify and control the project’s actual progress as compared to plan, and actively work to mitigate risks, while keeping the owner-client informed of any changes or required decisions.

Closing: Deliver the completed project to the owner-client, confirm the plan drawings reflect “As Built” status, arranging knowledge-transfer, closing project financials, and delivering agreed guarantees and reference materials from the project.

The main objective of project management is to balance and control three key aspects of the project throughout its lifecycle: time (schedule)cost (budget) and quality. These three components impact several other important elements such as:

a. Control of change orders and modifications
b. Purchasing management
c. Stakeholder management
d. Occupational health and safety management
e. Risk management
f. Communications management

ADVANTAGES WITH PROJECT MANAGEMENT SERVICES

A Project Manager offers the following advantages for both the owner-client and the general contractor, or project vendors and suppliers:

A) Owner-client benefits:

1. Maintain focus on your core business.
2. Ensure proper execution of the project without delays.
3. Decide upon technical and economic components based upon the recommendations and analysis of experienced professionals    who act in your best interests.
4. Stay informed the project’s progress with minimal investment of your time and effort.
5. Validate the allocated time and budgeted cost of your project, and avoids undue overruns.
6. Ensure the quality of your asset based upon anticipated specifications.

B) General contractor and supplier benefits:

1. Provide additional technical support throughout the project, including approval of materials and equipment (submittals), and the management and approval of change orders — where quick decision-making is required to keep on schedule.
2. Support the supervision of the project staff, reducing your risk of rejections or rework due to poor quality, which affects the time and cost of completion.
3. Enhance the compliance with occupational health and safety requirements to adequately protect project staff, suppliers and other visitors.
4. Provide additional technical support with suggestions on performance improvement strategies, including ways to reduce risks and eliminate delays, minimizing penalties for non-compliance during the completion and delivery of the project.
5. Maintain proper coordination among the work of other suppliers and subcontractors involved with the project.
6. Augment peace of mind by reducing the possibility of claims for defects which could result in warranty issues or require additional resources and costs to address.
7. Increase flexibility in the review and approval of progress reports, so that a positive cash flow can be maintained throughout the project.

WHAT WE OFFER

Project Management Service provides the owner-client with either comprehensive or selected oversight of technical and administrative aspects of any real estate project, to successfully achieve the expected outcome within the defined constraints and guidelines.

This service is customized to each project, from its inception through the closing and delivery to the owner, or can be tailored to a certain stage (s) or specific activities that the owner requires.

The focus of Project Management Services is to consistently act in the owner-client’s best interests for any scope or during any phase of a project, as required.

Every project passes through 5 stages:

Initiation: Define the purpose, scope and expectations of the owner-client and establish the project management team and requisite skills.

Planning: Articulate the activities, steps and requirements for smooth execution and successful completion of the project in accordance with the agreed project scope and constraints.

Execution: Perform the work in an organized manner and according to plan.

Monitoring and Control: Verify and control the project’s actual progress as compared to plan, and actively work to mitigate risks, while keeping the owner-client informed of any changes or required decisions.

Closing: Deliver the completed project to the owner-client, confirm the plan drawings reflect “As Built” status, arranging knowledge-transfer, closing project financials, and delivering agreed guarantees and reference materials from the project.

MANAGEMENT AND ADVANTAGES

The main objective of project management is to balance and control three key aspects of the project throughout its lifecycle: time (schedule)cost (budget) and quality. These three components impact several other important elements such as:

a. Control of change orders and modifications
b. Purchasing management
c. Stakeholder management
d. Occupational health and safety management
e. Risk management
f. Communications management

ADVANTAGES WITH PROJECT MANAGEMENT SERVICES

A Project Manager offers the following advantages for both the owner-client and the general contractor, or project vendors and suppliers:

A) Owner-client benefits:

1. Maintain focus on your core business.
2. Ensure proper execution of the project without delays.
3. Decide upon technical and economic components based upon the recommendations and analysis of experienced professionals    who act in your best interests.
4. Stay informed the project’s progress with minimal investment of your time and effort.
5. Validate the allocated time and budgeted cost of your project, and avoids undue overruns.
6. Ensure the quality of your asset based upon anticipated specifications.

B) General contractor and supplier benefits:

1. Provide additional technical support throughout the project, including approval of materials and equipment (submittals), and the management and approval of change orders — where quick decision-making is required to keep on schedule.
2. Support the supervision of the project staff, reducing your risk of rejections or rework due to poor quality, which affects the time and cost of completion.
3. Enhance the compliance with occupational health and safety requirements to adequately protect project staff, suppliers and other visitors.
4. Provide additional technical support with suggestions on performance improvement strategies, including ways to reduce risks and eliminate delays, minimizing penalties for non-compliance during the completion and delivery of the project.
5. Maintain proper coordination among the work of other suppliers and subcontractors involved with the project.
6. Augment peace of mind by reducing the possibility of claims for defects which could result in warranty issues or require additional resources and costs to address.
7. Increase flexibility in the review and approval of progress reports, so that a positive cash flow can be maintained throughout the project.