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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:

1. Lead with trust

2. Set clear expectations with subs and vendors

3. Delegate key tasks to them and get their BUY-IN

4. Communicate QUICKLY when expectations are not being met

5. If they still don’t perform, escalate the issue to your boss and their boss.

6. 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