Frequently Asked Questions
What is Project Management?
Project management is the discipline of organizing and managing resources (e.g. people, money, materials, communication, etc.) in such a way that the project is completed within defined scope, quality, time and cost constraints. A project is a temporary and one-time endeavor undertaken to create a unique product or service, which brings about beneficial change or added value. This property of being a temporary and one-time undertaking contrasts with processes, or operations, which are permanent or semi-permanent ongoing functional work to create the same product or service over and over again. The management of these two systems is often very different and requires varying technical skills and philosophy, hence requiring the development of project management.
According to Wikipedia, the free encyclopedia, the first challenge of project management is to make sure that a project is delivered within defined constraints. The second, more ambitious challenge is the optimized allocation and integration of inputs needed to meet pre-defined objectives. A project is a carefully defined set of activities that use resources (money, people, materials, energy, space, provisions, communication, etc.) to meet the pre-defined objectives.
How can Matrix help my project?
Matrix can help in several ways. Even if your company regularly manages its own development projects, you may encounter a project that your internal resources may not be experienced with managing. For instance, you may regularly manage upfit projects or move-add-change work but would you rely on the same resources to build a stand-alone building? – Probably not. Alternately, you may have the resources to manage construction projects but because of a sudden spike in activity or starting a project in another part of the country, you don't have the local resources or knowledge of the local market you need to manage a project effectively. In these and similar instances Matrix can provide you with the additional technical resources you need to assure your project’s success.
Will I lose control of the project if I hire Matrix?
Matrix will never take away your control of the project. We like to say “we support and not supplant" your role and authority. Matrix acts as your Project Manager and as an extension of your staff. Like your own staff, we work to provide you with key information to make timely and confident decisions and to see that your decisions are carried out.
Won't the fee charged by Matrix add to my project’s costs?
No, the fee charged by Matrix will not add to your project’s cost. Matrix manages a project by providing peer level expertise that is founded on decades of experience. We take full advantage of this expertise to work aggressively on your behalf starting with developing a comprehensive development model for your project including all hard and soft costs so that when you present a budget for approval you are confident all your costs are accounted for in the pro forma. Based upon the agreed budget, we competitively bid almost every aspect of the project and work to secure the lowest and most qualified bidders. During design and construction, we represent your interest in evaluating progress, payment application, change requests and commissioning. This approach provides more than enough savings to off-set our fee and provides a distinct economic advantage to your project. In fact, we typically save our entire fee before construction even starts.
How does Matrix charge for its services?
The fee charged by Matrix is based upon the type of project, the resources you will require, the length of the project schedule and the project’s location. We charge a lump sum for our fee and the fee is paid over the duration of the project. We charge a lump sum because we want you to know what our total cost is from the very beginning of our relationship. We understand that the final project costs may fluctuate, but we do not want to profit from changes you make in the project that do not extend the schedule or demand on our resources.
Can Matrix help me decide whether it is better for me to lease or own?
Yes we can assist by developing an accurate forecast of the project’s costs and financial requirements as well as a sample pro forma based upon real extracted information as well as the fee and rent constant a developer might charge to build your project and lease it back to you. With this information, you will be better prepared to negotiate a leased building or decide that you would rather keep the upside value of the project’s development as an asset for yourself or your company. If you do decide to develop the building yourself, Matrix can assist you with taking the building to the market to capitalize on the value of the building.
Can Matrix help me with purchasing or disposing of a site?
Matrix is a licensed commercial broker in North and South Carolina. We can refer you to firms outside of the Carolinas to facilitate the transaction. Importantly regardless of whether you use Matrix or not for the transaction, we provide you with the technical expertise to analyze the sites and assist with surveying and other due diligence activities so that you make an informed decision based upon the net usable land and the costs to develop the site.
Can Matrix assist my company with petitioning for incentives for our relocation?
Yes we can. We understand the process very well and have been through it a number of times. Our experience is derives from our understanding of both local and state incentive policies and with more information about your company we can advise on how to maximize those incentives. We also know several firms that specialize in the negotiation of incentives and will assist you with making a selection if we collectively feel that is the best approach for your particular situation.
Can Matrix help me with procuring furniture, a phone system, low voltage cabling, audio visual systems, move management and other expense items?
Yes, Matrix will assist you with developing a scope of services for each and competitively procure these services on your behalf from a pre-qualified list of bidders or assist your staff with procuring those services, all within the budget and time constraints of your development plan.
At what point of the project would it be best for Matrix to get involved?
The sooner we are part of your development team the better we will be able to thoroughly understand your company and expectations and develop a strategy of incentives, development budgets, design consultants and the balance of consultants to fully compliment your team.
What if I only need help in one area of the services Matrix provides? Can I pick from a menu of services?
Yes. As the name implies, we provide a matrix of services a client can select from to complement its staff and resources. We also understand the menu of services can change as the work progresses and will work to tailor our services to meet your specific requirements.