Once a project is assigned, the Project Manager should request from the office that scoped the project, a copy of the scoping documents. These documents may include such items as a completed copy of the Project Scoping Checklist, project concept statement, pavement coring information, cost estimate, sketch of the proposed typical cross section's, and preliminary survey. The Project Manager will then gather the necessary old plans, utility information, traffic data, and other useful background information, review all scoping documents, and review cost estimates from the programming of the project and compare it to the programmed cost. If this review of the estimate differs significantly from the programmed cost, the Project Manager should discuss possible revisions such as increasing the programmed cost, changing the scope of work and/or reducing the project limits with the System Manager and/or TSC Manager prior to the Scope Verification Meeting. Attendees of the Scope Verification Meeting should be informed of any revisions at the meeting to minimize design time impacts and to avoid a possible delay of the project.
2-Scope Change Control
change control is to provide a method of assessing and managing change, giving details of consequent cost, programme and scope effect. Effective change control procedures enables the monitoring and reporting of cost changes where they affect the out-turn cost and enables the project team to monitor and appraise programme implications and impact. The Client is made aware of the consequences of a potential change and the effect this will have on the overall project, this allowing an informed decision to be made with a full understanding of the impact of implementation.
Any successful property management strategy depends upon the performance of the on-site management team. Our Quality Control Coordinators provide regular, comprehensive reports on adherence to community procedures and standards. The Stratus’ executive management team analyzes and uses these reports to review the performance of the Regional Property Supervisors and the on-site staff. The result is first-rate service and meticulously maintained facilities – as well as satisfied clients and residents.
4-Cost Management (cost estimate, cost budget ,cost budget revision and cost control)
Cost Management application offers complete control over real estate and construction project finances. Companies can define, track, manage, measure, compare, integrate and respond to budget and cost issues in ways never before possible. Managers and executives can look at budgets as they are being created and spent
With an accurate view of future forecasted costs
Providing an instant profit and loss projection.
Cost Management provides the backbone to managing and forecasting the financial success of all programs and projects. The application’s features combine with platform functions to deliver a comprehensive web-based system for managing the budget development process and comparing budgets to actual costs.
5-Risk Management Support (Risk Management Plan, Risk Control...)
If organizations are attempting to manage the corporate real estate risk, then they need a framework to identify the sources of risk in a similar way to that developed for strategic business risk . We believe that there are three general categories of risk associated with corporate property: financial risk, property market risk and business risk. Although there is some overlap, each of these need to be understood and managed.
Financial risks: Currently, few organizations can predict their on-going workplace costs with any degree of certainty and therefore this exposes them to financial risks.
The financial risks are both direct and indirect. They potentially affect both the short run cash flow events and have long-run impact on total enterprise value. In this element of risk the focus relates to the impact of real estate on both the income statement and the balance sheet. Some examples of these risks include:
the resulting impact on the income statement of a decision to use floating rate debt for capital investment programs if unanticipated inflation occurs;
a lowering of the firm’s valuation multiple due to the presence of substantial real estate on the balance sheet;
the impact on the firm’s financial ratios or credit rating due to a change in the accounting treatment of long-term leasehold obligations.
Property market risks: Related to the general financial risk is the property market risk to which all occupiers are exposed. Firstly as an owner-occupier, a corporation is exposed to the same risk as any other property investor, both in terms of the rate of return and the volatility of those returns. Corporate occupiers are often in a situation where downturns in their own market that lead to business contraction occur on a widespread basis. The result is that the disposal of surplus assets occurs in a falling real estate market leading to reduced value and the possibility of holding vacant surplus assets due to a moribund transactions market Some examples of the impact of property risk are:
sharp increases in occupancy costs due to rent escalation
deteriorating location quality due to a shift in external agglomeration generators such as transport nodes or neighborhood deterioration or a shift in the types of sub-market occupancies;
divestiture of assets resulting in a charge against book value due to market value decline; or
tax obligations created by the sale of appreciated assets.
Business risks: The final type of risk is that linked back to the business. If an organization is either unable to function or can only function inefficiently, then there is a risk of financial loss in terms of lower business revenues or increased costs. On the one hand, some of these risks are considered in depth such as the risk of a building being bombed or sabotaged where a contingency strategy may be developed. On the other hand, there are more subtle risks such as a failure of the heating or air conditioning systems, halting work temporarily or the inability to acquire contiguous space thus impeding operations. These latter business risks, although much more common, are more difficult to predict or even estimate.
Again some specific examples of these business risks include:
inefficient floor plates leading to decreased employee productivity;
deterioration of retail sales due to evolution of retail formats;
legal and financial liability as a result of environmental contamination; or
lack of flexibility in the physical structure hampering business operations.
6-Project Coordination Services and Client Representation Scope
About Project Coordination
This unit works with customers to develop a project scope, preliminary budget and schedule. Once approved, the Project Coordinator (PC) works for the customer to develop a defined scope, assess delivery options, and manage the execution of the project on behalf of the customer. Project Coordinators have a number of options made available to them for optimum execution of the planned construction work, including In-house Construction Services, Job Order Contracting (JOC), and pre-approved contractors who can perform work under the State Bid Limit. Projects that require a competitive bid are managed by Project Managers, not Project Coordinators
Client Representation Scope
Clients request this service when the demands of capital programs stress the resources of their organization. We provides a true alternative to in-house resources by offering a high level of practical experience, know-how and confidentiality. We provide a management team to develop the scope of work, schedules and estimates for alternatives during the conceptual design phase.
Typically this is performed by a team of senior project managers, estimators and project planners who have the experience in construction methods, installed cost, project timetables, alternate plant layout and materials of construction.
Property management provides the guiding hand and overall supervision of the day to day operations of a property.
Professional management is a key to investment protection and real estate success. We succeed when our clients achieve their investment goals through effective counsel and management of their real estate assets.
Liberty Property Management manages all types of property from residential homes and apartments to office buildings and industrial complexes.
Real Estate Development Services
1-Real Estate Feasibility Study
A feasibility study, a marketing study, and a commercial real estate study all share the same general goal of determining the financial feasibility or economic feasibility of a business, a product, a real estate development, or whatever the subject of the particular type of study may be. Some studies are performed for very specific and limited purposes, such as to determine the most likely absorption rate (for rentals or sales) for a specific type of real estate property in a particular area, most probable rental rates, most likely rent-up schedule for a new property, most likely sales scenario for a new product, etc.
A feasibility analysis or market analysis is a key part of any request for financing. Any financial institution, investment banker, or other source of funds being asked to fund a financial venture of any kind has certain concerns that must be addressed in a feasibility or marketing study in order for the proposal to be approved. These same concerns apply equally as well to potential partners, equity investors, potential suppliers, or others.
There are two sides to real estate development feasibility study: The Cost Side & The Income Side.
a-Real Estate Feasibility Study (Cost Side)
Feasibility study is vital when applying for finance, it is however, just another cog in the wheel of the property development process. feasibility study, it's a, Financial Analysis, of all the costs and income revenue that tell you if your development will produce a profit.
feasibility study goes through several stages.
The first stage uses figures that are the best figures you have available at the time. The last stage is when all your cost figures are firm and final.
But as you are only at the stage of deciding to buy the land or not, you figures are "general and loaded with safety" in dollar terms.
Let's be clear about what I mean here. For the land cost you would use the full asking price and all the associated costs, at full calculation for your initial entry in the feasibility study. Then if you negotiated a lower price you are safe.
If you first feasibility study shows a satisfactory profit return for the risk of doing the development, you will proceed and gain legal control of the land.
Well, to gain control, you must have concluded a negotiation on the land sale price so you have now firmed up on one of the cost items. Hopefully it is lower than, or the same as the figure you allowed in the feasibility study.
b- Real Estate Feasibility Study (Income Side)
Without the Sales Income, All You’ve Done Is Spend Money, And Anyone Can Do That.
So that we are clear in what I am going to define for you, let me say that there are two forms of Income.
We shall be dealing with Sales Income, in this article, which in our case will consist of large amounts of money being received as a developer in exchange for the property units we have created.
The other form of income in a feasibility study, is Rental Income and will be addressed at another time when I write an E-book on Commercial Development.
Because of the make up of our feasibility study sheet, there will be no deductions from out Gross Sales Income, because we have allowed for those costs on the Cost Side of our feasibility study.
Items such as sales commissions for sales agents and various marketing costs have already been allowed for previously.
Now I have seen some formats of feasibility study, which deducts marketing costs from the Gross Sales Income to produce a Net Sales Income.
When Can You Get Your Hands On The Sales Income.
Getting the sales income into your account is very important, yet many people never ask the question as to what the procedure is “exactly” in their neck of the woods.
Get to your Conveyance Expert and have them give you a schedule of events “with an estimate of time for each stage.”
This information is important in preparing your cash flow feasibility study format, as it results in reducing your interest cost.
So by knowing this information at the beginning of a development investigation, you are adding a little bit of “certainty” to the early stages of your feasibility study.
2-Real Estate Market Study
Market studies are performed to evaluate real estate market conditions with regard to an existing or proposed property. The focus of a market study details competition within the submarket, and the strength or weakness of the submarket. Also, market study indications that the submarket will continue to improve or weaken and how the existing or proposed subject property is likely to perform within the submarket. Research regarding existing construction, proposed construction and historical absorption forms the basis for prognosticating regarding absorption and occupancy.
3-Real Estate Market Survey
There are two types of real estate survey:
Mortgage location survey
This survey shows the boundary lines for the parcel of land, any improvements, easements and building setback lines.
It also shows if any improvements (buildings, pool, shed, fence etc.) encroach over any easement, setback or property line and/or if any of the improvements on the neighboring property encroaches onto the parcel's property boundary lines.
It will also show roads, lakes, streams, docks etc.
A stake survey shows the same information as the mortgage location survey, but more accurately.
A stake survey is often required for later improvements, such as installing a fence or for deleting survey exceptions on the owner's title insurance policy.
Mortgage lenders require surveys and will not accept a title policy that contains survey exceptions that are not shown on the public record but COULD be shown by a survey.
Exceptions also include rights or claims that are not on the public record but could be discovered by inspecting the property.
4-Investment Promotion Support
To assist employers to find and confines sources of found to serve the project development within the most reasonable financial cost.
This includes appraisal of the risk studies to satisfy lenders requirement and solicitation for appropriate sources of fund or equity partners or equity partners at the out side.
5-Project scope definition
The project scope states what will and will not be included as part of the project.
The Scope provides a common understanding of the project for all stakeholders by defining the project’s overall boundaries.
Scope can be defined in terms of impacted organizations, processes, systems, data, functionality and the like.
It establishes the boundaries of what the project will and will not accomplish. The scope statement eliminates any confusion or ambiguity that might still exist after considering the project's goal, objectives and high-level deliverables statements.
Scope creep changes inevitably lead to increased work effort, which in turn causes project delays, cost overruns, poor team morale and/or customer dissatisfaction.
A clear statement of scope is the foundation for defining a change management strategy. Using a change management process, changes to scope can be managed, rejected, or deferred in a disciplined manner.
Document the Scope Statement which can include:
Project outcome and success criteria
Expected services in order to achieve the project outcome
Functionality and Data
Phases (what will be implemented first?)
Document the high level requirements of the proposed solution
Define the deliverables which will be associated with the project.
The deliverables will become the foundation of the Work Plan and insure that project activities and tasks are focused on deliverables that are in scope
Determine if this project will impact any organizational units or any systems.
Develop a high level timeline for when major phases of the project will occur.
6-project implementation planning
The purpose of an Implementation Plan is to set priorities. The Implementation Plan outlines the Agency's goals, objectives and proposed activities in its efforts to alleviate blight in the Project Area. Goals and objectives are broad in nature and include a program of activities. This allows the Agency to respond to new issues and opportunities as they arise, while remaining flexible in its implementation of near-term revitalization efforts within the Project Area over a 5-year period.
The Implementation Plan includes both a commercial redevelopment component and a housing component. The commercial redevelopment component outlines the strategies and expenditures that will eliminate blight within the Project Area. The housing component outlines the strategies and expenditures for housing production within the Project Area, specifically addressing the statutory requirements for the production of affordable housing, and the expenditure of the 20% Housing Set Aside.
Real Estate Promotion Services
1- International Marketing For Real Estate Property Sales
We assist you to sell your Real Estate product in the globe over all the active international markets that have a high purchasing power.
2- International Marketing For Real Estate Property Rental
We assist you to rent your Real Estate products for people that have demand in the globe over all the
active international markets.
3- Mortgage Loans Promotion And Management
a-Managing your mortgage
We are concerned about reports of some businesses targeting home owners struggling to meet mortgage repayments with the promise of a quick sale at prices below market value. Before considering the sale of your home you should read over the tips below, which may help you to make informed choices about your mortgage and your home.
The tips set out on this page provide general guidance only and you should seek independent advice as soon as possible if you are experiencing financial difficulties.
Get independent advice
Contact your lender
Thinking about refinancing
Selling your home
Get independent advice
Seek advice from a financial counselor, specialist community legal centre or legal aid office as soon as possible to discuss your options. These services can be free depending on your circumstances. Financial counselors can help you decide what you can do including:
clarifying your legal position if you can’t pay your mortgage or other debts
identifying what debts you should pay first
preparing a budget to help you work out your current and future financial situation
exploring ways to reduce your expenses and increase your income
checking your eligibility for short term interest free mortgage relief loans that are offered by some state governments to cover temporary shortfalls
advising on the appropriateness of accessing some of your superannuation to avoid losing your home
advising whether consolidating your debts would be beneficial—this can extend your commitment and increase your interest payment
exploring ways to help you pay a little more off your loan when you can to give you a buffer in difficult periods
helping you to avoid taking out extra debt like credit cards and loans and to pay cash whenever you can.
Contact your lender
Talk to your lender as soon as you know you might miss a payment, they can help you to sort out what your options are. The following tips may be helpful when you are talking with your lender:
Be honest about your circumstances and what you can afford to repay.
You may be able to negotiate reduced repayments by extending the term of your loan.
Your lender may allow you to temporarily suspend your payments or make lower repayments for a period of time.
Your lender may be able to help you assess your current loan and consider whether you need to downgrade to a more basic option—don’t forget that you will probably have to pay a fee for changing loans.
If the lender refuses to consider a repayment arrangement, you might be eligible to apply for a hardship variation under the Consumer Credit Code.
a specialist consumer community legal centre, financial counselor or legal aid office can provide you with more information on how to arrange this
if you are eligible for a hardship variation you can apply to a court or tribunal to order the lender to agree to a variation. Obtain advice before considering this option as there may be considerable costs involved.
Remember to keep making repayments that you can afford while you are trying to negotiate a repayment arrangement.
Thinking about refinancing
Before refinancing your loan consider the following:
Thoroughly check out the background of the broker or lender.
Be wary of high pressure sales tactics.
Be wary of suspicious conduct by the broker or lender, such as withholding documents, providing false information or rushing transactions.
Thoroughly check all fees and charges payable under an alternative loan—remember high fees and charges may wipe out any apparent savings from lower interest rates.
Check what fees apply to terminate your current loan—most home loans carry fees in excess of $1000 if they are terminated or paid out within a specified time frame.
If in doubt, don’t sign anything—seek advice about your options from a financial counselor, community legal centre or legal aid office.
Selling your home
While it’s a hard thing to do, it may be best to consider selling your house.
Selling can mean that you walk away with more money to start again than if you delay.
If you do decide to sell your home, make sure you shop around to get the best deal.
Seek valuations from a number of agents before deciding on a reasonable selling price that will optimize your position.