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Using Project Management in a Real Estate Business - Podcast #43 with Nicole Lopez

Hardeep Inderpal Singh

8820846

Project Management, Conestoga College

MGMT 8300: Introduction to Project Management

Noman Jafri

May 22, 2023

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Step 1 (What): What did you notice / what stood out? (salient point of theme)

In the podcast video ” Using project management in a real estate business - Podcast #43 with

Nicole Lopez” one significant idea discussed is relationship building with stakeholders.

Nichole Lopez acknowledges the importance of relationships with stakeholders who are

directly or indirectly linked to the project, like-

 Project Sponsors

 Project Teams

 Government

 Customers

Further, she states effective relationships that help teams, project sponsors, and individuals in

trust building, interaction, and smooth communication.

During the video, Nicole Lopez indicates:

so building relationships with vendors with project team members um I'm very and

various stakeholders that I worked with and it was critical in terms of building trust

and building um you know people interactions with individuals and um having a an

ability to have really great and smooth communication. (Understanding Projects,

2023, 26:06)

Step 2 (Relates to what?): What course learning does this relate to?

The idea is present in the course text Understanding Project Management on page 36.

According to the textbook, relationship building is important and helpful in managing

stakeholders, resolving project issues, and implementing changes.

The author describes,” Building effective relationships with stakeholders is very

important, as it will help the Project Manager in virtually all aspects of managing the project,
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including communicating with stakeholders, resolving issues, and making changes to the

project. (Barret, 2021, p. 36)

Step 3 (So what): So what insights or conclusions can you draw?

Project management is a complex job and we need a supportive and trustable

workplace to accomplish project needs and goals. Apart from technical and analytical skills,

relationship building makes you communicate effectively with stakeholders and team

members. You are likely to gain more trust, more support, honest communication, and honest

feedback. If trust is established, You will see more engagement, more interaction more

dedication among stakeholders and teams. The workplace will become more supportive,

more productive, more innovative, and more dedicated. You can easily full fill stakeholder

requirements and accomplish project objectives/goals. Any professional, who lacks this skill,

fails to get favor from their stakeholders, team members, vendors, and customers. He/she

might not be able to get desired results.

In the future, I will invest more in relationship building and make the workplace

productive, where teams exchange their innovative thoughts and ideas and it help me gain

and retain more business and accomplish goals.

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References

Understanding Projects. (2023, February 03). Using project management in a real estate

business - Podcast #43 with Nicole Lopez. [Video]. YouTube.

https://www.youtube.com/watch?v=kSo2BRqjna8

Barrett, D. C. (2021). Understanding Project Management - A Practical Guide (2nd ed.).

Canadian Scholars' Press.