Overview of PM Pitfalls and Controls

Key Takeaways

• PM pitfalls cluster into five categories: legal, financial, operational, relational, and strategic—each capable of independently destroying returns.
• The control framework layers preventive, detective, and corrective controls across every PM function.
• The five highest-impact controls address trust accounting, screening, deposit documentation, maintenance response, and lease standardization.
• Implement high-impact controls first—they prevent the most expensive and legally dangerous failures.