The 1 Mistake All New Project Managers Make (And How To Avoid Doing It)
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The 1 Mistake All New Project Managers Make- That Ends Up Costing Their Company $125,000:
Micromanaging their subs and vendors.
I have seen this a dozen times:
You just got assigned your first big job as a PM. 10 minutes into your first jobsite meeting and immediately you don’t trust your concrete sub. You need the job to go well so you decide to take it into your own hands.
You do their submittals, track materials for them, coordinate with their vendors, schedule their deliveries, and take pictures of their work for documentation.
You feel good - maybe even helpful - and decide to do it for your other subs too.
But you’re not being helpful. You’re doing other peoples’ work. Work you pay THEM to do.
And before you know it, you just wasted $125,000 of your company’s money.
Let’s break it down:
$125,000 Down The Drain
It’s simple math:
Let’s say you spend 16 hrs/week doing other peoples’ jobs.
That’s 832 hours over the span of a 12-month project.
832 hours x $150/hr = $124,800.00/year
It adds up fast!
And guess what:
It’s not just about the money.
You’re also slowing down your career development.
How?
Because every minute you spend working on someone else’s work, you’re not working on:
Your own work
Meeting key people
Your own career development
All things you absolutely need to be doing daily if you want to get promoted to Executive and beyond.
There’s a better way
Fortunately, it doesn’t have to be this way.
You can be the type of project manager that micromanages less, makes your jobs more money, and has more time to focus on career growth.
All you have to do is change your mindset around what it means to be a project manager.
And you can do it in 6 simple steps:
Lead with trust
Set clear expectations with subs and vendors
Delegate key tasks to them and get their BUY-IN
Communicate QUICKLY when expectations are not being met
If they still don’t perform, escalate the issue to your boss and their boss.
Start doing their job for them only once it’s clear you’ve exhausted all other options and will be appropriately compensated.
You’ll be surprised how often steps #5 and #6 are not necessary.
It’s okay to be different
In my experience, the hardest part about implementing these steps is that it will make you DIFFERENT.
Most of the PMs around you will be micromanaging and stressing out over other people’s work.
Don’t let this discourage you.
It’s okay to be different.
Over time, the results will speak for themselves.
So not only will your job:
Be more likely to succeed
Make more money
Hit schedule
But you’ll also free yourself up and:
Be less stressed
Have more time to focus
Build better relationships
Set yourself up to get promoted FASTER
So, go out on Monday and start practicing these 6 steps.
I hope this newsletter gives you some inspiration and helps you be the type of Project Manager that doesn’t cost your company $125,000 per year.
That’s it for this week.
I’m so grateful to have you here.
Until next week.
Your friend,
Matt Verderamo
Spark Notes:
Conflict is a huge part of construction.
Most of it stems from one side or another using the Contract as a weapon.
You can use the Contract more effectively if you do these 4 things:
Read the Contract
Know the key terms
Set boundaries with your partner
Stay objective
You’ll be running better projects with less conflict in no time.
Go give it a try tomorrow, and let me know how you do.
