MIHOME PROJECT MANAGEMENT PROCESS
Once you have this clear, you move onto the “what”. What are you seeking in return? A quick project turnaround? Long term capital growth? Rental returns?
Then it’s the biggest question to follow “how?”. How will you go from where you are today to achieving your property goals?
“You Are One Decision Away from a Totally Different Life!”
All of these are valid questions that we can help you answer through our property development process, based on the fundamentals and principles of project management.
This is where the project concept is created, it may not be what the end result looks like, but it is a starting point working towards testing the feasibility of your vision. It may be that you are just beginning your property journey and need some guidance through the initial stages or you may have already started building your portfolio but need some professional assistance to get to the next levels. Some of the topics discussed in this stage involves identifying any development opportunities, we would look at the expectations and what outcomes are desired. We can start developing the resource pool (or team) that are going to be part of the project.
The exit strategy is considered at this stage and the project methodology is defined (which can often change depending on what stage of the property development process you are in).
“Whats envisioned is exciting!”
You could consider the most important function of property project management is planning! The more complex the project the more planning that is required in the early stages, this will maximise your chances of a successful outcome. In this stage we would spend time detailing the specific actions and work structures that will be required towards realising the vision. Planning also involves testing the feasibility, completing the due diligence process, refining the concept, preparing the estimates and project schedules, coming up with a set of concept drawings, going through the town planning process and subject to obtaining planning permits then working drawings are drawn up and other preconstruction documentation process as required towards obtaining construction and other permits.
This stage may involve a collaboration of work between number of our trusted network of professionals that include, but is not limited to, other property developers, architects/drafters, builders, planners, surveyors, engineers, designers and financial services, to deliver you industry best practices.
“What’s planned becomes possible!”
By this stage the planning has been thoroughly detailed and you are well on your way through the project and is now considered fully specified. The finances have been taken care of and the builder has been selected and contracts have been signed. Depending on your site there may also be subdivision process, connections of new or expansions on existing services and demolition/site preparation before actual building construction works can commence.
Resourcing moves into refining the schedule, including planning for any delays, to reflect more realistic timeframes and focusses on construction project management. All of the pre construction works have come together and you can start seeing how all the careful planning is now working towards the successful outcome and turning the vision into something tangible.
“Whats scheduled is real!”
MONITOR & CONTROL
The project schedule and contract terms detail planned key milestone dates and those accountable. It is imperative this process is properly managed to ensure the project stays on course for a successful outcome, as planned, on time and to budget whilst maintaining highest level of quality controls. Our experts can quickly identify if there are any deviations away from the project plan and act decisively to rectify these to bringing the project back on track. Builder, sub-contractor and other stakeholder management is an important process during project execution (construction), however realistically this “stage” is occurring throughout the entire process to measure, monitor, control and improve on our performance, efficiency and effectiveness.
“Whats measured can be improved!”
CLOSURE / COMPLETION
The construction is now complete, you’ve obtained all the necessary certifications and you are ready to move forward. In this stage we highly value completing a project review where the “lessons learned” are discussed and we reflect on what was done well and what other opportunities we can identify.
..start planning your next project!