Pareto's purpose
Pareto is a leading real estate development consultancy. We foster collaboration to deliver high-quality, timely and commercially viable developments. Our proven track record, expert team, and seamless client integration set the benchmark for excellence.
We want to create a better way to do business, sharing our knowledge and experience, and partnering with the best in the industry to create quality developments which enhance the quality of life for all.
Pareto people
We’re experts in supporting clients with real estate investment, development and construction, with a team of project managers, commercial expertise and robust real estate knowledge.
Relationships and collaboration lie at the heart of what we do, so when it comes to having confidence that your vision will be realised, you’re in safe hands.
Pareto principle
The Pareto principle is a phenomenon that states that roughly 80% of outcomes come from 20% of causes. Put simply, it centres around optimising workflows, reducing waste and focussing on those high-impact activities that deliver the best results. As a business, we focus on those most impactful matters and make them the priority.
As Project Manager’s, we understand the importance of managing the balance between time, cost, and quality to ensure the successful completion of a project (the Project Management Triangle).
Time
Project Planning – The first step in managing time is creating a detailed project programme and strategy, defining the project’s timeline, milestones, and deadlines.
Monitoring and Control – Monitor progress against programme – tracking progress, achievement of milestones, reporting to Client and key project stakeholders.
Risk Management – Identify potential risks to the programme and prepare contingency plans to address them.
Cost
Visibility – Collaborate with the project team to develop a viable scheme, in line with the Client’s brief.
Budget Planning – Production of detailed cost estimate to validate the viability of the scheme and provide a benchmark for tender returns.
Value Management & Value Engineering – Design ‘health’ and efficiency is to be considered from the outset, ensuring value for money in all aspects of the build.
Balancing the Triple Constraint
The challenge is managing the interdependencies between time, cost, and quality. Often, changes in one area can impact the others:
Time vs. Cost – If the programme is tight, additional measures may need to be implemented which can increase costs.
Cost vs. Quality – If the project is over-budget, the quality of materials or standards may need to be reduced to stay within financial limits.
Time vs. Quality – If time is the main priority, quality might suffer if work is rushed. Conversely, focusing too much on quality could result in delays.
