Key Takeaways
- Phase 2 cost 14% less than Phase 1—learning curve benefit.
- Portfolio budgeting offset Phase 1 overrun with Phase 2 savings.
- EVM caught schedule slip for fast-tracking recovery.
- Risk register correctly predicted highest-impact risk.
Full PM toolkit applied to a multi-phase fourplex renovation.
Planning
$220K total (4 units × $55K). Phased: units A&B (weeks 1-12), C&D (weeks 13-24) maintaining 50% occupancy. 120 WBS activities. Risk register identified shared plumbing as highest risk.
Execution
Phase 1 on track through week 6 (SPI 1.02). Week 7: shared drain stacks require replacement—$10,800 CO (identified risk materialized). SPI recovered to 0.97 via fast-tracking. Phase 1 completed week 13 at $59,200/unit. Phase 2 benefited from lessons: $50,800/unit, on time.
Results
25 weeks total (+1), exactly on $220K budget (Phase 2 under-run offset Phase 1 over-run). Rent increased $400/unit.
| Metric | Phase 1 | Phase 2 | Total |
|---|---|---|---|
| Duration | 13 wk (+1) | 12 wk | 25 wk (+1) |
| Cost/Unit | $59,200 | $50,800 | $55,000 avg |
| SPI | 0.92 | 1.00 | 0.96 |
| CPI | 0.93 | 1.08 | 1.00 |
Multi-phase results
Key Takeaways
- ✓Phase 2 cost 14% less than Phase 1—learning curve benefit.
- ✓Portfolio budgeting offset Phase 1 overrun with Phase 2 savings.
- ✓EVM caught schedule slip for fast-tracking recovery.
- ✓Risk register correctly predicted highest-impact risk.
Sources
- PMI Construction Extension to PMBOK Guide(2025-01-15)
- NAHB Multifamily Remodeling Guide(2025-01-15)
Common Mistakes to Avoid
Trying to renovate all units simultaneously without staggered scheduling
Consequence: Trade crews wait for each other, inspections bottle up, and the project takes longer than sequential renovation
Correction: Stagger unit starts by 1-2 weeks so crews flow sequentially through units with minimal downtime
Test Your Knowledge
1.What is the biggest project management challenge in multi-unit renovation projects?
2.What scheduling technique works best for multi-unit renovation?