Various Projects Developed by the Property Developers

There are range of activities related with property development. From the purchase of land to building a construction, developing plans to maintain all the codes and conducts, all the important things come into the array of property development. Developers coordinate and monitor the activities converting requirements, plans and ideas into property.

Property developers can come up with brilliant ideas when developing properties for various projects such as:

Industrial Property Development- Industrial development is a cornerstone to economic development of any country. The entire industrial property development starts with the complete understanding of the exact requirements of the property market and the economic scenario of the particular country. Along with the professionals of project management services, property developers take up high-profile industrial development projects and complete them in a proper way.

Community Housing- Community housing is social and affordable housing delivered by housing cooperatives, housing associations, non-profit community organisations and local governments. The priorities of community housing are-

• Increase housing affordability
• Reducing homelessness
• Covering short, medium and long-term tenancies

Office and Business Parks- The goal of office and business parks is to provide customized space for diverse office and industrial tenants. With the globalization getting ever so accepted, businesses all over the world are setting up offices and business parks to other countries. Multiple benefits of business parks-

• Offers greater flexibility
• Packed with advanced technology and equipment
• Provide 24-hour security
• All amenities under one umbrella

Retail and Commercial Buildings- Commercial property is any non-residential property used for commercial profit-making purposes. One of the biggest benefits of retail and commercial building is that the assets are generally secured by leases and secure a steady income stream. According to the property and construction consultants, the developers give top priority in developing retail and commercial projects. The profit margins are generally high in this type of projects.

The best thing about commercial property developers is that they always try to form long term relationships and deliver solutions that meet the expectations of their clients.

New-Age Project Management Methodologies

If you want to make your construction project flow quicker with less hassle, there are different kinds of project management methodologies available. You can also benefit from collected wisdom and knowledge of the professional project managers. They can perform wide range of duties including managing budgets, coordinating with everyone involved with the project, maintaining data of goods and materials. Project managers also manage all stakeholders in the project, develop project plans and work in a wide variety of sectors.

Effective Project Management Methodologies

Traditional Project Management: The traditional project management uses conventional techniques and methods in the management process. It is a step-by-step sequence to develop design and deliver a product or service. In a traditional approach various tasks are assessed properly and provide a process to oversee and monitor the completion of those tasks. In the traditional project management techniques that are proven for decades are used, so the outcome can be accurately predicted. Companies that offer project management services use this technique for the smooth running of the project.

Waterfall Project Management: The waterfall method builds upon the framework of the traditional method. Waterfall project management handles things sequentially. Waterfall was based on the notion that everything happens in sequence. Project requirements are usually defined at the beginning and one phase of a project ends before another begins in a systematic way.

Agile Project Management: Agile project management is ideal for the projects where there is no requirement for extensive control over the deliverables. This process is highly adaptable to the changing situations of the project and offers useful suggestions for improvement. Flexibility and speed are the two basic features of the agile project management method.

Critical Chain / Path Project Management: This method is geared more towards solving resource problems. Through this process, interdependent tasks are easily managed. The primary goal of critical chain/path is to keep the load level equal for all resources. It is an ideal method for resource-heavy project.

Six Sigma Project Management: For the projects that can be measured precisely, the Six Sigma method is absolutely ideal. It is a data-driven project management method. Six Sigma is geared toward finding solution of the problems at root cause and preventing it from recurrence in the future of the projects. These objectives are achieved through profound knowledge of engineering, in-depth command over statistics and accurate project management skills.

Other Project Management Methods are:

• PRISM
• PRINCE2
• Kanban Technique
• Rational Unified Process
• Extreme
• Scrum
• Crystal
• Joint application development

Property development consultants all over the world use these project management methodologies to sharpen their skills and offer remarkable service to their clients.

Responsibilities Performed by the Project Managers in Construction

Construction and real estate industry play a crucial part in shaping the economic growth and prosperity of Australia. The construction industry is an important component of the Australian economy and employs a sizeable portion of the workforce. The real estate industry has a close relationship with other sectors as well. Beyond the direct contribution of construction activities, it also impacts GDP and economic development of the country.

Real estate sector is now getting more organized, and the application of well-thought project management planning have greatly helped to bring more transparency in the construction industry. Through the management skills and values at different levels, project managers significantly influence and effectively promote construction industry development.

Project management in construction involves multiple people, parties, procedures, processes and practices. Effective project management ensures that the development project is going on in accordance with quality and design requirements, completed on time, in compliance with relevant laws and regulations and within budget.

The responsibilities of a project manager includes:

• Planning authorities
• Solving designing issues
• Ensure the project is tracking along to plan
• Document management
• Procurement
• Knowledge of health and safety on site
• Selecting subcontractors and workers
• Completing the work within estimated budget and specified time
• Client handling
• Maintaining a reputation for high-quality workmanship
• Developing communication strategy for resolving conflicts

Construction project management is a complex field that requires vast knowledge in various areas such as mediation, finance, business, law and more. Construction management should always be taken seriously because it will save construction professionals a huge amount of time and money while still being able to yield profitable results. Employing effective construction project management solutions is vital to finish off a project successfully in a timely manner without any delay or disruptions.

Construction management is a relatively new field but most project owners are aware of the benefits of having an experienced construction manager working on their project.