Keeping costs competitive by using a project manager.

Yacht refits are expensive and no revamp project should be embarked upon without meticulous planning and detailed research.  There are a number of ways to ensure that you are keeping costs competitive but one of the most effective ways is by using a project manager. Let’s see why ptw Shipyard project managers really are vital to the success of your yacht refit.

This is a topic that is often discussed and there are a number of key reasons why our project managers are crucial to any refit project.  However, to really understand the true value of a project manager it is important to understand what their role entails, and how it fits within a refit project.

To get a real sense of a refit project imagine someone juggling ten different objects in one hand, completing a mathematical query with the other hand whilst answering random questions and reciting a foregin language all at the same time. This is how a refit is, there are so many different elements and moving parts that coordination is key to a successful outcome.

Understanding and deciphering information is vital.

Refit budgets and timelines can hit a wall when problems arise that have not been anticipated. To avoid issues during a project it’s important to understand the product you are working with, to know its components and how they operate together. Boats are built all over the world, under different standards, classes and regulations.  Technical guidelines and manuals supplied by different manufacturers can vary in detail, information and clarity.  To stay within budget and timelines, being able to understand and decipher this information as well as putting it into practical use is vital. Technical understanding of a yacht is a skill that requires education, training, experience and aptitude. In addition to having a technical qualification, ptw Shipyard project managers have worked on a number of different boats across a number of different projects.  Their knowledge and understanding of nautical crafts is at a high level allowing them to thoroughly comprehend the task at hand. A successful project needs a clear and informed vision to get it over the finish line.

Teams ready at the time they are needed to ensure a smooth workflow.

Having the technical know-how alone is not enough to keep a refit project on course.  Each element of the venture comes with its own need for expertise and an optimal time slot.  As well as knowing how the overall vessel operates, each task needs to be assigned, completed and perfectly timed.  Each step must come in fluid sequence, not interrupting any other step, not arriving too early or too late.  Knowing what needs priority and what can wait as well as understanding what team does what and when is vital.  Good coordination is critical in the refit juggling act.  It’s important to ensure teams, subcontractors and specialists are where they should be at the exact time they are needed, that they stay on course and complete the task safely, correctly and to a quality standard. Scheduling their task to fit correctly within the overall project so that it does not hinder or delay any other element guarantees a smooth delivery.  Team coordination and scheduling is just another of the many tasks in the role of project manager, keeping everyone on point and realizing their timelines.

Understanding the big picture to harmonize the team.

Of course, to effectively coordinate, one must communicate well, as successful coordination takes excellent communication.  Each group needs to understand what is needed from them and how they fit into the big picture.  Subcontractors, shipyard teams, shipyard management, captains, owners, owner crews and suppliers, as many as 200 people, all need to be kept informed, and regularly updated to ensure everyone is on the same page and flowing smoothly in the same direction.  Bear in mind that in this communication mix there can be different nationalities, time zones, languages and cultures all of which need to be seamlessly harmonized to ensure the objective.  Our project managers are effective and clear communicators who are well versed in interacting with all key teams and stakeholders.

Keeping the end result within budget.

With so many irons in the fire, keeping control of a refit budget is no mean feat.  Delays, miscommunication, incorrect specifications and poor planning are just some of the catalysts that can cause a refit budget to quickly spiral into overspend.  It’s imperative that each step and element is thoroughly understood as mistakes are costly and cutting corners is not acceptable.  In addition to coordinating and communicating with all key elements a project manager is also keeping on top of spend and costs to ensure that the end result is on-time, within budget and completed to safe and acceptable standards.

Maintaining crucial documentation saves money.

A significant cost saving measure for non-european owned boats is to have the refit project completed in one of the few authorized TPA-Inward Processing customs port shipyards, such as ptw Shipyard.  However, to avail of these cost savings, meticulous documentation is required to be submitted to the local Spanish customs and taxation departments.  Not being organised with your project paperwork and documentation in this situation would literally cost you money.

As we have already discussed, communication is fundamental, and effective communication requires fastidious documentation as all plans, decisions and steps need to be documented to ensure clear instructions and exact billing.  Maintaining ongoing effective and crucial documentation is another skill that our project managers bring to their role.

Ability to achieve cohesion gets the project off the ground.

Timelines and budget are of course the two key elements in a successful refit project.  However, these are the two areas where everyone’s initial opinion will be different.  Owners and captains will want tighter deadlines and lower budgets, while shipyards and contractors will push for more margins on time and costs. Finding the optimal balance between all sides is crucial so everyone enters the project with a positive attitude and clear desire to achieve the best outcome.  Working together with all key stakeholders while managing their expectations is a vital skill of any project manager.  The success of a contract rests on their ability to bring everyone to the table, and to achieve a cohesive strategy that satisfies everyone.  Their technical knowledge and communication skills will be key to finding the right balance and reaching mutual consensus.

Project Managers offer owners peace of mind.

So as an owner, your ultimate goal is to have your refitted yacht back on the water as quickly and cost effectively as possible without having to compromise on safety or standards.   Achieving this involves a lot of organisation, communication and specialised skills.  There is absolutely no doubt that the ptw Shipyard project management team offers you peace of mind and assurance that they will bring your project to a satisfactory conclusion .

Feel free to reach out to us.

At ptw Shipyard our experienced project managers are on-hand and delighted to discuss your next project.  Please feel free to reach out to them with any questions or queries you might have. Their skills and expertise are at your disposal.