Holidays mark the start of the shopping season, but some people view it as the start of the 'home remodeling season'. This is because homeowners get a break from the monotonous work routine and have ample time to focus on remodeling projects while socializing with the family members.
Woodworking Network cites the National Association of the Remodeling Industry, revealing that the home remodeling market continues to rise, even during the holiday season.
However, it’s usually easy to make unnecessary additions, spend on the wrong tools and go overboard with the overall investment in home remodeling. And though some remodeling projects can indeed cost thousands of dollars, there are ways to make sure that your projects bring in a significant return on investment, regardless of the budget spent.
Philly highlights that home remodeling is considered as a stressful event among adults in the U.S., and the majority of citizens feel that a major remodeling project is even more stressful than college fee-saving plans and mortgage take-outs. However, with the right frame of mind and careful planning, this doesn't have to be the case.
So whether you’re looking to make the patio more dapper or want to re-energize the kitchen in the holidays, these 4 remodeling project management tips will assist in reducing the associated risks and increase the profitability of the overall project:
1. Allocate your budget
Careful budget allocation provides a framework for successful remodeling. When you allocate the budget in advance and estimate the related costs, it will be easy to identify key areas where it is possible to reduce expenses. For example, you may find that kitchen remodeling only needs a new countertop design, while the floor design can remain the same.
Also, it is important to calculate energy and maintenance expenses because remodeling projects usually consume extra units and the updated rooms require frequent maintenance for a year or so. Taking these expenses into account will let you avoid financial headaches in the future.
2. Find the right set of tools
Even if you’ve zero experience in home remodeling, there are software tools you can use to see where the project is going. And if you’re going to get some remodelers on board--make sure they’re NARI (National Association of the Remodeling Industry) members--select the tools that you can use to show them what you’re looking for in terms of design.
Procore points out that it is possible for project management software to facilitate sharing the project drawings between two or more individuals. The right set of tools allows multiple users to quickly view drawings (from computers, smartphones, tablets, laptops, and other devices) and request revisions from the first to the endpoint at any time.
3. Establish due diligence with KPIs
Depending on your goals and critical decisions related to remodeling of multiple rooms, it will be important to set KPIs or key performance indicators so that you can track the position of different metrics related to the project and make changes along the way when required.
For example, you can define KPIs in if you get into the contract. This will let you examine metrics for the completion date and the progress of the tasks assigned to the constructor. Exton’s LaRosa & Associates CEO says that the contract needs to be clear about the details of the work as well as the payment terms.
4. Be effective at communication
Communication perhaps plays the most important role in project management, so it is important to be effective at it during the project. Project management institute reports that out of every 1 billion dollars spent on projects, risk is associated with 135 million dollars, and 56% of the amount is at risk because of ineffective communication.
Therefore the remodelers, contracts and any other parties involved need to be informed frequently because alienation can translate into financial losses.