Project Management

The Importance of Project Management in the Real Estate Sector

Eduardo Elias

Due to low entry barriers and the lure of sizable profit, the real estate market attracts many people. But it’s challenging to thrive in the long term because many specific features are required by this industry—including the abilities to succeed as an entrepreneur, an investor and a constructor. This triple set of skills comprises a “Real Estate 3.0” level of experience.

The real estate market attracts executives (and companies) from diverse backgrounds, origins and trajectories. The entry barriers are very low, which may be good from an opportunity point of view—but that can be dangerous when it leads to a disregard for the required learning curve, which is fundamental in knowing how to operate in critical situations.

After years successfully serving another industry—from construction and engineering to investing and business—companies sometimes wonder: “Why aren’t we involved in the real estate business?” What they all have in common is motivation to jump into a sector with billions of dollars of turnover—and a conviction that they are ready to explore it.

They also often share a deficiency: No matter how well they are vertically entrenched in their specific field, most lack consistent knowledge and experience across the board in all aspects of the real estate industry. That is why best …

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"Familiarity breeds contempt -- and children."

- Mark Twain