Summary:(1)Know the numbers of people you require per day on site.
(2)The reputation of your contractor/professional
(3)Earmark 20% of estimate for exigencies
(4)Approve your building plan
(5)Take proper documentation of any financial dealings
(6)Go for quality not the cheapest
(7)Consider seriously the safety of your workers on site
(8)Treat your project as business
(9)Build the biggest possible size you can afford
(10)Watch out for favourable weather
(11)Storage facilities for your materials is important
(12)Pay only when the job is satisfactory however, don't cut corners because it will cost you more later.
http://www.buildingcontractorsecrets.com/bcssupervise.htm