SlideShare a Scribd company logo
1 of 26
John Rice


            Project Management
              of Renovations.



Copyright 2009 John Rice All Rights Reserved for Slideshow
Key Early Lessons

• Heavy & Dirty Jobs First.

• Ordering of Activities – Crucial.

• Importance of Good Project Management.
The Fixer Upper

• The Ghost of Sarah Beeny.

• Rising Market.

• Anybody can do a Fixer Upper.
End in Mind
• Money in Bank – Two Options.

• Sale or Tenancy.

• Property Marketed.

• Start Renovation.

• Finalised Plan.
Planning in Advance
• One possible reason why things are not
  going according to plan – is that there
  never was a plan.

• “Where you fail to plan – you plan to fail.”

     YOU GOTTA HAVE A PLAN GUYS.
Target or Plan – Difference
• Be Clear in own mind re Distinction.

• The target is “This house will be sold by
  30th September 2009”.

• The plan is the how “How this house will
  be sold by 30th September 2009”.

• Aggressive but Realistic.
Programme

– A Programme may best be described as a
  ‘logical and sequential listing of activities from
  commencement to completion of a Project.
– You need to know it
– Your builder needs to know it
– Your funding body as you move forward will
  want to know it
Critical Path

– A delay to any activity on the Critical Path will
  result in a delay to the Overall Programme.
  There is no ‘float’ in any activity that lies on
  the Critical Path.
– Where an activity has float – delay in respect
  of this activity may not impact the Critical Path
  and resultantly may not delay the overall
  project.
Project Management

• Who is Driving The Bus?

• You – Be aware of undertaking.

• Single Point Responsibility



Copyright © Rice 2009
Order & Sequencing of
                              Activities

• Learn to understand the Jargon

• First Fix – Carcassing (The Bones)

• Second Fix – Finishing Off

• Final Touches
Copyright © Rice 2009
Progress Monitoring
• You must be able to monitor progress that
  is your KPI – and its FUN.

• Gantt Charts

• Google ‘You Tube – Gantt Charts – Excel
  2007.

• Microsoft Project.
Copyright © Rice 2009
Tweaks & Improvements
• Improve Planning.

• Improve Materials Management.

• Plan for Contingencies.

• Keep Records

• Managing the Worksite eficiently.
Tweaks & Improvements
• Improve Quality Assurance /Checking.

• Don’t try to get to far ahead of game.

• Improve Communication.

• Instigate Change Management Control.

• Keeping Check on Budget regularly.
Have A Solid Contract
            – Details of the work being carried out.
            – Cost.
            – Start Date.
            – Finish Date.
            – Penalties for failure to finish by Finish Date.
            – Reference to Descriptions of Work
              /Specifications better define your Actual
              Requirements.
            – Must have Statement signing it means
              agreeing to its terms.
Copyright © Rice 2009
Purpose of A Contract
            – Benefits.
            • It puts you on a Professional Footing with
              your Contractor from the outset.
            • Prevents in most instances genuine
              misunderstandings from arising.
            • It stops you in other less likely cases being
              taken advantage of.
            • Intention should not be used irresponsibly by
              Employer.
            • Should stay in Filing Cabinet for duration of
              contract.
Copyright © Rice 2009
Actual Contract
            – Do not try to re-invent wheel.
            – Use a standard contract please!!
            – Nothing unique about your renovation trust
              me!
            – www.ciob.org.uk
            – www.rics.org.uk
            – www.fmb.co.uk
            – Personal preference JCT forms of Contract.



Copyright © Rice 2009
Payments to Contractor
            – No deposit to buy materials – not way to
              operate.
            – Always be fair to tradesman at all times have
              integrity.
            – Work out payment system in advance.
            – Stage payments – payments should lag
              behind the works at all times.
            – Hold a retention 10% as guarantee /or
              pending final inspection.

Copyright © Rice 2009
Cost Overrun
            – Cost overruns occur in 4 ways only.
            • Initially you do not have enough experience to
              know what things cost in reality.
            • You miss detail items and these add up at
              scary rate – becomes a snowball in not
              careful.
            • You decided to add items to your initial
              specification.
            • Your contractor is trying it on!

Copyright © Rice 2009
Value Cost Items - Bathrooms
            – Clean, bright sparkly. It should glow.
            – ‘Expensive Looking’ mixer taps.
            – Separate shower – Power shower if poss.
            – Good ventilation.
            – Spotlights.
            – Hygenic floor surface.
            – En-Suite Bathrooms.
            – Natural light
            – Clean tile surround to wet areas at least.
            – Key is SIMPLICITY with a hint of WARMTH.
Copyright © Rice 2009
Value Cost Items – Kitchen
             – Often described as Social Hub of entire
               house. Can be a huge winner in terms of
               revenue generation – so important to get
               right.
             – Can absorb a great deal of your budget so
               shop carefully.
             – Down market cabinets – Exotic woods such
               as cherry.
             – Forget heavily stained woods – lose natural
               feel.
             – Laquer coating – avoid strip down and apply
               natural wax.
Copyright © Rice 2009
Value Cost Items – Kitchen
             – Kitchen Layout i.e. The famous design
               triangle Fridge,Cooker,Sink.
             – Plenty storage space consider a drawer/larder
               type storage unit where space permits.
             – Dishwasher essential.
             – Quality worktops – Stone (such as granite)
               are pricey but best.
             – Good Quality & Robust Floor – love Stone but
                like slate is cold finish / Wood warmer and
               can look classy /Slate sometimes cheaper
               than plastic tiles that look like slate.
Copyright © Rice 2009
Value Cost Items – Kitchen
             – Good natural light.
             – Good artificial light to show off those super
               worktops – consider recessed halogens.
             – Plenty of sockets please buyers love and is
               low cost item.
             – High quality splashback tiling – personal
               choice but ceramic tiling is fine it is a matter of
               choice.
             – KEY is CLEAN, FRESH & WARM.


Copyright © Rice 2009
Value Cost Items – Exterior
             – Exterior is often forgotten sadly.
             – Outstanding efforts internally are undone by
               shabby exterior.
             – Not that I listen to Anne Maurice much but
               she is BANG ON MARK here – KERB
               APPEAL.
             – Major opportunity to provide additional living
               space at very little cost.



Copyright © Rice 2009
Value Cost Items – Exterior
             – Consider options for additional living space.
              Walk out porch.
              Deck
              Gazebo or Summer House.
              Sun Trap
              Traditional Patio.
              Good Lawn.
              Cosy BBQ area.



Copyright © Rice 2009
Value Cost Items – Exterior
             – Focus         on     simple        straightforward
               improvements.
              Generate clean lines where overgrown grass.
              Kerbing is irregular sort it – straight lines
              Remove dead looking bushes.
              Replace dead looking patio area with decking.
              Clear litter /Remove weeds.
              Sort out eyesores – Broken Steps /Fencing
              Key is as inside – CLEAN,BRIGHT & WARM.


Copyright © Rice 2009
Facebook - John Rice

More Related Content

Similar to Wealth Club Talk 25th June 2009

Ht making the most of your dollar-schleichter
Ht making the most of your dollar-schleichterHt making the most of your dollar-schleichter
Ht making the most of your dollar-schleichterGherghescu Gabriel
 
Nahc pm and curb appeal class 2011
Nahc pm and curb appeal class 2011Nahc pm and curb appeal class 2011
Nahc pm and curb appeal class 2011Julie Van Noy
 
[On-Demand Webinar] How to Benefit from the Big Shift in the Australian Prope...
[On-Demand Webinar] How to Benefit from the Big Shift in the Australian Prope...[On-Demand Webinar] How to Benefit from the Big Shift in the Australian Prope...
[On-Demand Webinar] How to Benefit from the Big Shift in the Australian Prope...Emily John
 
From Sympathy to Solution
From Sympathy to SolutionFrom Sympathy to Solution
From Sympathy to SolutionEd Ferguson
 
Real estate franchise presentation
Real estate franchise presentationReal estate franchise presentation
Real estate franchise presentationBrent Crysell
 
Maintaining your home for profit with Geoff Grist
Maintaining your home for profit with Geoff GristMaintaining your home for profit with Geoff Grist
Maintaining your home for profit with Geoff GristGeoff Grist
 
How To Save construction cost While building your Home
How To Save construction cost While building your HomeHow To Save construction cost While building your Home
How To Save construction cost While building your Homebuiltify
 
Holiday Homes As A Property Investment Strategy
Holiday Homes As A Property Investment StrategyHoliday Homes As A Property Investment Strategy
Holiday Homes As A Property Investment StrategyReal Estate Investar
 
Rochester Homes Complete Brochure
Rochester Homes Complete BrochureRochester Homes Complete Brochure
Rochester Homes Complete BrochureZMarketing1
 
Stonewood Homes and HomeStar - 7 star rated home
Stonewood Homes and HomeStar - 7 star rated homeStonewood Homes and HomeStar - 7 star rated home
Stonewood Homes and HomeStar - 7 star rated homeStonewood Homes
 
RESN-Nevada-Pre-licensing-Chapter 3.pptx
RESN-Nevada-Pre-licensing-Chapter 3.pptxRESN-Nevada-Pre-licensing-Chapter 3.pptx
RESN-Nevada-Pre-licensing-Chapter 3.pptxtyler716641
 
Minimum Marketable Features @ BarCamp Shanghai
Minimum Marketable Features @ BarCamp ShanghaiMinimum Marketable Features @ BarCamp Shanghai
Minimum Marketable Features @ BarCamp Shanghaimaximeguilbot
 
10 Ways to Work More Successfully with Product Management/Marketing Team - Da...
10 Ways to Work More Successfully with Product Management/Marketing Team - Da...10 Ways to Work More Successfully with Product Management/Marketing Team - Da...
10 Ways to Work More Successfully with Product Management/Marketing Team - Da...MarketingCamp
 
[On-Demand Webinar] What kind of investment property is right for you webinar...
[On-Demand Webinar] What kind of investment property is right for you webinar...[On-Demand Webinar] What kind of investment property is right for you webinar...
[On-Demand Webinar] What kind of investment property is right for you webinar...Emily John
 
Becoming a Water Garden Expert by PondBuilder
Becoming a Water Garden Expert by PondBuilderBecoming a Water Garden Expert by PondBuilder
Becoming a Water Garden Expert by PondBuilderBlue Thumb
 
What's Hot in New Homes Today?
What's Hot in New Homes Today? What's Hot in New Homes Today?
What's Hot in New Homes Today? Smithfieldhokie
 
2011 presentation
2011 presentation2011 presentation
2011 presentationEdwin Henry
 

Similar to Wealth Club Talk 25th June 2009 (20)

Ht making the most of your dollar-schleichter
Ht making the most of your dollar-schleichterHt making the most of your dollar-schleichter
Ht making the most of your dollar-schleichter
 
Nahc pm and curb appeal class 2011
Nahc pm and curb appeal class 2011Nahc pm and curb appeal class 2011
Nahc pm and curb appeal class 2011
 
[On-Demand Webinar] How to Benefit from the Big Shift in the Australian Prope...
[On-Demand Webinar] How to Benefit from the Big Shift in the Australian Prope...[On-Demand Webinar] How to Benefit from the Big Shift in the Australian Prope...
[On-Demand Webinar] How to Benefit from the Big Shift in the Australian Prope...
 
Competitive Idea Book
Competitive Idea BookCompetitive Idea Book
Competitive Idea Book
 
From Sympathy to Solution
From Sympathy to SolutionFrom Sympathy to Solution
From Sympathy to Solution
 
Real estate franchise presentation
Real estate franchise presentationReal estate franchise presentation
Real estate franchise presentation
 
Maintaining your home for profit with Geoff Grist
Maintaining your home for profit with Geoff GristMaintaining your home for profit with Geoff Grist
Maintaining your home for profit with Geoff Grist
 
How To Save construction cost While building your Home
How To Save construction cost While building your HomeHow To Save construction cost While building your Home
How To Save construction cost While building your Home
 
Holiday Homes As A Property Investment Strategy
Holiday Homes As A Property Investment StrategyHoliday Homes As A Property Investment Strategy
Holiday Homes As A Property Investment Strategy
 
Adaptive Projects
Adaptive ProjectsAdaptive Projects
Adaptive Projects
 
Rochester Homes Complete Brochure
Rochester Homes Complete BrochureRochester Homes Complete Brochure
Rochester Homes Complete Brochure
 
Stonewood Homes and HomeStar - 7 star rated home
Stonewood Homes and HomeStar - 7 star rated homeStonewood Homes and HomeStar - 7 star rated home
Stonewood Homes and HomeStar - 7 star rated home
 
RESN-Nevada-Pre-licensing-Chapter 3.pptx
RESN-Nevada-Pre-licensing-Chapter 3.pptxRESN-Nevada-Pre-licensing-Chapter 3.pptx
RESN-Nevada-Pre-licensing-Chapter 3.pptx
 
Minimum Marketable Features @ BarCamp Shanghai
Minimum Marketable Features @ BarCamp ShanghaiMinimum Marketable Features @ BarCamp Shanghai
Minimum Marketable Features @ BarCamp Shanghai
 
espresso_may_2010
espresso_may_2010espresso_may_2010
espresso_may_2010
 
10 Ways to Work More Successfully with Product Management/Marketing Team - Da...
10 Ways to Work More Successfully with Product Management/Marketing Team - Da...10 Ways to Work More Successfully with Product Management/Marketing Team - Da...
10 Ways to Work More Successfully with Product Management/Marketing Team - Da...
 
[On-Demand Webinar] What kind of investment property is right for you webinar...
[On-Demand Webinar] What kind of investment property is right for you webinar...[On-Demand Webinar] What kind of investment property is right for you webinar...
[On-Demand Webinar] What kind of investment property is right for you webinar...
 
Becoming a Water Garden Expert by PondBuilder
Becoming a Water Garden Expert by PondBuilderBecoming a Water Garden Expert by PondBuilder
Becoming a Water Garden Expert by PondBuilder
 
What's Hot in New Homes Today?
What's Hot in New Homes Today? What's Hot in New Homes Today?
What's Hot in New Homes Today?
 
2011 presentation
2011 presentation2011 presentation
2011 presentation
 

Wealth Club Talk 25th June 2009

  • 1. John Rice Project Management of Renovations. Copyright 2009 John Rice All Rights Reserved for Slideshow
  • 2. Key Early Lessons • Heavy & Dirty Jobs First. • Ordering of Activities – Crucial. • Importance of Good Project Management.
  • 3. The Fixer Upper • The Ghost of Sarah Beeny. • Rising Market. • Anybody can do a Fixer Upper.
  • 4. End in Mind • Money in Bank – Two Options. • Sale or Tenancy. • Property Marketed. • Start Renovation. • Finalised Plan.
  • 5. Planning in Advance • One possible reason why things are not going according to plan – is that there never was a plan. • “Where you fail to plan – you plan to fail.” YOU GOTTA HAVE A PLAN GUYS.
  • 6. Target or Plan – Difference • Be Clear in own mind re Distinction. • The target is “This house will be sold by 30th September 2009”. • The plan is the how “How this house will be sold by 30th September 2009”. • Aggressive but Realistic.
  • 7. Programme – A Programme may best be described as a ‘logical and sequential listing of activities from commencement to completion of a Project. – You need to know it – Your builder needs to know it – Your funding body as you move forward will want to know it
  • 8. Critical Path – A delay to any activity on the Critical Path will result in a delay to the Overall Programme. There is no ‘float’ in any activity that lies on the Critical Path. – Where an activity has float – delay in respect of this activity may not impact the Critical Path and resultantly may not delay the overall project.
  • 9. Project Management • Who is Driving The Bus? • You – Be aware of undertaking. • Single Point Responsibility Copyright © Rice 2009
  • 10. Order & Sequencing of Activities • Learn to understand the Jargon • First Fix – Carcassing (The Bones) • Second Fix – Finishing Off • Final Touches Copyright © Rice 2009
  • 11. Progress Monitoring • You must be able to monitor progress that is your KPI – and its FUN. • Gantt Charts • Google ‘You Tube – Gantt Charts – Excel 2007. • Microsoft Project. Copyright © Rice 2009
  • 12. Tweaks & Improvements • Improve Planning. • Improve Materials Management. • Plan for Contingencies. • Keep Records • Managing the Worksite eficiently.
  • 13. Tweaks & Improvements • Improve Quality Assurance /Checking. • Don’t try to get to far ahead of game. • Improve Communication. • Instigate Change Management Control. • Keeping Check on Budget regularly.
  • 14. Have A Solid Contract – Details of the work being carried out. – Cost. – Start Date. – Finish Date. – Penalties for failure to finish by Finish Date. – Reference to Descriptions of Work /Specifications better define your Actual Requirements. – Must have Statement signing it means agreeing to its terms. Copyright © Rice 2009
  • 15. Purpose of A Contract – Benefits. • It puts you on a Professional Footing with your Contractor from the outset. • Prevents in most instances genuine misunderstandings from arising. • It stops you in other less likely cases being taken advantage of. • Intention should not be used irresponsibly by Employer. • Should stay in Filing Cabinet for duration of contract. Copyright © Rice 2009
  • 16. Actual Contract – Do not try to re-invent wheel. – Use a standard contract please!! – Nothing unique about your renovation trust me! – www.ciob.org.uk – www.rics.org.uk – www.fmb.co.uk – Personal preference JCT forms of Contract. Copyright © Rice 2009
  • 17. Payments to Contractor – No deposit to buy materials – not way to operate. – Always be fair to tradesman at all times have integrity. – Work out payment system in advance. – Stage payments – payments should lag behind the works at all times. – Hold a retention 10% as guarantee /or pending final inspection. Copyright © Rice 2009
  • 18. Cost Overrun – Cost overruns occur in 4 ways only. • Initially you do not have enough experience to know what things cost in reality. • You miss detail items and these add up at scary rate – becomes a snowball in not careful. • You decided to add items to your initial specification. • Your contractor is trying it on! Copyright © Rice 2009
  • 19. Value Cost Items - Bathrooms – Clean, bright sparkly. It should glow. – ‘Expensive Looking’ mixer taps. – Separate shower – Power shower if poss. – Good ventilation. – Spotlights. – Hygenic floor surface. – En-Suite Bathrooms. – Natural light – Clean tile surround to wet areas at least. – Key is SIMPLICITY with a hint of WARMTH. Copyright © Rice 2009
  • 20. Value Cost Items – Kitchen – Often described as Social Hub of entire house. Can be a huge winner in terms of revenue generation – so important to get right. – Can absorb a great deal of your budget so shop carefully. – Down market cabinets – Exotic woods such as cherry. – Forget heavily stained woods – lose natural feel. – Laquer coating – avoid strip down and apply natural wax. Copyright © Rice 2009
  • 21. Value Cost Items – Kitchen – Kitchen Layout i.e. The famous design triangle Fridge,Cooker,Sink. – Plenty storage space consider a drawer/larder type storage unit where space permits. – Dishwasher essential. – Quality worktops – Stone (such as granite) are pricey but best. – Good Quality & Robust Floor – love Stone but like slate is cold finish / Wood warmer and can look classy /Slate sometimes cheaper than plastic tiles that look like slate. Copyright © Rice 2009
  • 22. Value Cost Items – Kitchen – Good natural light. – Good artificial light to show off those super worktops – consider recessed halogens. – Plenty of sockets please buyers love and is low cost item. – High quality splashback tiling – personal choice but ceramic tiling is fine it is a matter of choice. – KEY is CLEAN, FRESH & WARM. Copyright © Rice 2009
  • 23. Value Cost Items – Exterior – Exterior is often forgotten sadly. – Outstanding efforts internally are undone by shabby exterior. – Not that I listen to Anne Maurice much but she is BANG ON MARK here – KERB APPEAL. – Major opportunity to provide additional living space at very little cost. Copyright © Rice 2009
  • 24. Value Cost Items – Exterior – Consider options for additional living space.  Walk out porch.  Deck  Gazebo or Summer House.  Sun Trap  Traditional Patio.  Good Lawn.  Cosy BBQ area. Copyright © Rice 2009
  • 25. Value Cost Items – Exterior – Focus on simple straightforward improvements.  Generate clean lines where overgrown grass.  Kerbing is irregular sort it – straight lines  Remove dead looking bushes.  Replace dead looking patio area with decking.  Clear litter /Remove weeds.  Sort out eyesores – Broken Steps /Fencing  Key is as inside – CLEAN,BRIGHT & WARM. Copyright © Rice 2009