Property Development Matters
PROJECT MANAGEMENT THE KEY TO SUCCESS FOR ANY DEVELOPMENT It is common knowledge that you make your money when you purchase the land or property, but the truth is that unless you have a project leader and closely manage the project you will never realise the potential profits. No matter whether you’re doing a small renovation, building your dream house or doing a big development, project management is essential! Most people start off with the best intentions to do the project but then life happens, and we all get caught up in day to day activities. It takes guts, commitment and above all dedication to see a project through. Before undertaking any project, understand your own timeframe and reasons behind doing the project.
The core components of project management are: • Defining the reason why you want to do a property development project, whether it is a simple renovation, building of a large house or a larger development? • Determining upfront the timeframe. Time can cost you thousands of dollars! • Capturing project requirements, specifying quality of the deliverables, estimating resources and timescales • Conducting extensive due diligence and financial feasibility to justify the investment
Why are you doing the project? Is it for money and financial freedom, is it to fulfil your dream to build a house, or maybe you want to secure education for your children? Once you understand the WHY you can start working on the HOW.
• Securing funding for the project
Most people are time poor and don’t have the necessary time and skills to ensure a successful project. Outsourcing the project management can be a great solution.
• Managing the risks, issues and changes on the project
Project management is the application of processes, methods, knowledge, skills and experience to achieve the project objectives. General A project is usually deemed to be a success if it
SUSAN LINDEQUE Linzen Group
achieves the objectives according to their acceptance criteria, within an agreed timescale and budget.
• Developing and implementing a management plan for the project • Leading and motivating the project delivery team
• Monitoring progress against the project plan • Managing the project budget on a weekly basis • Maintaining communications with stakeholders and the project organisation ‘To accomplish great things we must first dream, then visualize, then plan...Believe, act!’ Alfred A. Montapert
ABOUT THE AUTHOR Susan is the CEO and Co-founder of Linzen Group which is a multi-faceted and diverse property development group offering a one stop real estate shop all under one roof. Susan has more than 25 years of successful commercial and financial experience with a background as a registered Chartered Accountant and Real Estate Agent. Her extensive expertise allows her to recognise market trends, demands and conditions to accurately predict project outcomes.
NEED HELP WITH PROJECT MANAGEMENT? Our services are tailored to suit your individual or business needs and our delivery approach is guided by our expertise and your requirements • Property investment advise and strategy • Set up appropriate structures for asset protection • Specialised tax advice on income tax, GST and Capital Gains Tax • Land development and Construction • Dealing with Council, townplanners, engineers and other consultants
• Due Diligence and Financial Feasibility for all projects • Project management to ensure projects are on track • Joint Venture Partnerships with investors or land owners • Seek funding for projects
1 HOUR FREE CONSULTATION TO BM READERS! Enjoy a one hour complimentary consultation where we will assist you with: • Wealth Analysis • 5 year strategy and goals • Defining realistic time frames
Linzen Group • P.1300 766 261 • M.0413 887 850 • info@linzen.com.au • www.linzen.com.au BUSINESS MATTERS 37
