- When you start-up and initiating a large development project (large land division or multi-dwellings) what fears do you have and how do you overcome them?
- Does it feel as if your project gets out of control at times and how do you get it back into control?
- Have you consider using a project manager for your building project – why?
- Are there any special project controls that work for you and that you can recommend using?
Thanks to all!!Any comments or thoughts!!
RegardsYou need to build a team of experts as you can't do everything.
Private Town Planner
Architect
Builder
LandscaperAnd then you know what costs are going to be incurred before you even buy the property so you will know if you are going to make a profit or a loss. Also you have to allow for unforeseen cost blowouts.
I have not started developing yet.But I have done the rookie developers course.
Hi all,
Duckster, how was the Rookie Developer course? Get a lot of good tips? Good overview of developing?
Ottg, it is all about taking emotion out of the equation. Once the numbers work (and really work $$$!) then it is a business and all decisions are treated as business decisions.
You always select the best person or team for the job and monitor everything yourself even if you have a great team and project manager. If you monitor the entire development and know what is happening every step (every day even) then there should never be a loss of control.
There may be slight hiccups or problems, or even major problems that are beyond your control but it is a matter of mitigating risk by having a sound strategy and exit plans at required intervals.
I would only be afraid if the deal had no profit! Then you would see me run like the wind!
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeThanks for all the comments.
In a large multi-dwelling development surely you cannot monitor every step. Will you say then the key is clear directives when starting-up the project based on sound project management principles.
·Clear roles and responsibilities within your team
·Clear communication plan showing what reports to expect, when and by whom
·Provides a directive for the team when they engage
·Promotes professionalism and clarity which reduce riskThe project brief and project initiation document perhaps also need to show the holding points for review and delivery points before proceeding to the next stage.
Your thoughts!!
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