Real estate development is a complex task. Every project includes layers of planning, permitting, financing, construction oversight and stakeholder communication – often at high stakes with many variables at play. Project management software can simplify this process to keep teams on the right path toward meeting their goals and meeting deadlines.
Real estate development project management software should be flexible enough to adapt to individual company workflows and processes, enabling team members to communicate and collaborate from anywhere while scaling to projects of any size. Furthermore, project management software helps reduce risks by providing transparency for stakeholders while tracking progress at every step of a project.
Finding the appropriate real estate development project management tools requires carefully considering your needs and requirements. Some real estate software specializes in specific tasks like permitting or construction management; other platforms provide more holistic solutions – for instance Kosmas is one such real estate development software solution which assists developers manage projects from site selection through construction completion, including budget tracking features to keep projects on schedule while mitigating risk.
Other tools specialize in certain aspects of real estate development processes, like document management or project accounting. Smartsheet is a general purpose project management platform with some real estate industry traction through customizable templates and integrations; however, it lacks robust features like cost tracking and field communication.
Some real estate development project management tools also feature additional features, like client-facing portals or permitting workflow tools, which can enhance communication by keeping clients up-to-date without email chains and deadlines being missed. They also help track deadlines more closely, track team member communications with authorities more easily and help track deadlines better than email alone. Some project management software also include built-in cost forecasting with live data feeds to update estimates based on labor market trends, material price fluctuations and other factors.
No matter your business, having the appropriate real estate development project management tool can help increase productivity and successfully complete projects on time and within budget. When selecting software for your team, take into account what features are most essential and which levels of support you require; also take into account whether data can be shared between stakeholders as well as whether multiple languages can be supported within one system and any customization or training costs that might come into play when choosing it.