What is a Development Manager
A DM, Development Manager, is a role which has more responsibilities then a PMC. A Development Manager is a more strategic team that envisages the entire project from maximizing the success rate perspective while mitigating the risks. While the basic responsibilities of PMC are included in the scope of a Development Manager, there are further skills that a DM brings to the table.
Success of a Self Redevelopment project is not just determined by getting an OC for the project, but when the entire sale is achieved and the project makes the envisaged profit.
A DM looks at the entire project from a holistic viewpoint and strategizes different ways to ensure the project cashflows are managed tightly through objective decisions making the project progress smoothly.
The core advantage that a DM has over a PMC is business acumen, and that is the the trait critical for making any project successful.
What is a PMC
A Project Management Consultant (PMC) is a corporate entity which guides and helps a housing society through the entire self redevelopment process. For a housing society which wants to undertake self redevelopment in Mumbai, a PMC manages the different professionals involved, certifies the work done by different agencies, provides the society members with insights, anticipates possible risks and provides mitigating options.
Traditionally, PMCs were Architect or Engineering firms working for the societies to gauge their development potential based on the prevalent Government norms. They took it a step ahead and started supporting societies in getting builders on board to fulfil their development needs. But now, when it comes to Self-Redevelopment, the expectation from a PMC is far broader and more complex than what used to be in traditional way of redevelopment by builders.
Need for PMC
Self redevelopment is the DIY style of redevelopment, which, although is the oldest and most beneficial, is considered the most difficult one. Unlike other approaches, this approach depends on the existence of a leader amongst the society members who is ready to take the torch and pave the path while the rest of them follow in unison. But leadership in an unknown territory, with lack of trust amongst each other and the uncertainty in the norms makes the journey difficult, tiring and unpredictable.
In such a case, getting professional help from a management body with relevant domain knowledge, skills and experience in the form of a PMC not only adds impetus to the overall process but also gives an assurance that the self redevelopment plan is free of any loopholes which might come to haunt the society members later.
A PMC helps in overall planning, execution and and management of the self redevelopment process, including the most crucial aspects like decision making, ascertaining and ensuring the quality standards, following all government norms, fulfilling all requirements and legalities and generating revenue through the sale of extra flats. Finally it is dependent on the Society what responsibilities they wish to give to a PMC.