Creating effective end-to-end processes in Property Development
Project management is vital for property developers due to the complexity and scale of development projects.
There are multiple moving parts to ensure a successful delivery, including project and cost forecasting, risk mitigation, quality control, regulatory compliance, resource management and stakeholder engagement.
So, to ensure seamless delivery, how do businesses create an effective end-to-end process?
Understanding the end-to-end process for property developers
The end-to-end process for property developers typically involves several stages, these can include:
Market research and feasibility analysis: This could include identifying market trends and potential opportunities in the target location. Developers conduct feasibility studies and financial modelling with cash flows to assess the viability of developments. Potential risks are well considered with an assessment of the regulations, land restrictions, and environmental considerations.
Site acquisition: Developers will go through a process of identifying and acquiring suitable land or properties for development, considering factors such as location, size, zoning, site access and access to utilities. Developers will then have to negotiate purchase agreements or land leases and breaks with property owners or land developers.
Planning and design: Once the land has been purchased or leased, planning can begin. This means developing a comprehensive project plan outlining the scope, objectives, timeline, and budget. This will also include scoping resources and hiring architects, engineers, and other consultants to design the project and infrastructure requirements. Once all of these plans are in place, developers will obtain the necessary permits and approvals from local authorities and regulatory agencies.
Financial planning: Developers will also create detailed financial plans, including construction costs, financing expenses, marketing budgets, and projected revenues to inform the financial model and cash flows.
Construction management: Once contractors, subcontractors, and suppliers have been selected and appointed, development project managers will then oversee the construction process, as well as monitor progress, quality, health and safety compliance, risks and costs throughout the construction phase.
Project completion and handover: Once the construction has been completed, development teams will obtain the necessary certifications and approvals from authorities. They will also conduct final inspections to ensure the property meets quality standards and regulatory requirements. When the time for handover comes, they will prepare for project handover to buyers or tenants, including documentation, warranties, and keys.
Post-development activities: Some developers may also provide ongoing estate management support and maintenance services as needed after the handover. This could include property management, leasing, and tenant relations.
Throughout each stage of the process, effective project management is essential to coordinate activities, manage resources, mitigate risks, and ensure successful outcomes.
The most effective way to create end-to-end processes for your property development company
If you want to create seamless processes throughout your organisation, you need to ensure you have a project management system in place that supports every stage of planning, execution and delivery whilst helping you to remain compliant.
There are many project management tools on the market, with many specialising in task management and workflow tracking. However, these tools offer little scope for customisation and are not suited to the evolving needs of estate management, portfolio management, lease management, financial modelling, cash flows or construction and development.
WorkSavi is unlike any PM tool on the market. Our platform is the most agile tool for true project management – giving you full visibility and complete control across your entire portfolio.
WorkSavi is a powerful platform that has been built by project managers for project managers. We’ve been in your shoes; we understand the complexities of your role and have harnessed this learning to create powerful and intuitive SaaS PPM software to support the specific needs of PMs, PMOs, Developers and Asset Managers, Heads of Estates, Operations Directors and Commercial Directors.
Here are some of the innovative features that our client use to help create effective end-to-end processes in their businesses:
Improved forecasting: Whether you need to improve project resource planning, improve cost estimations, manage budgets and control spending to prevent scope creep, WorkSavi can help. Click here to discover how we’re helping businesses create comprehensive cost management systems to improve financial stability.
Tailor workflow templates: We can help you standardise practices throughout your business to improve efficiency, consistency, governance and collaboration. By standardising workflow practices, you can also benefit from enhanced visibility, tracking and reporting and improve compliance throughout your organisation.
True Project Management: Whether you’re working with architects, contractors, sub-contractors or in-house teams, you’ll be able to outline scopes, objectives, timelines, and budgets for your team and effectively manage multiple projects and teams in one place. With our tailored project management solutions, you can create Gantt charts and project sprints to keep teams on track and focused on delivering work to your exact requirements.
Trackers: Our smart and initiative trackers have unique functionality that enables the system to learn from your past projects and predict delivery for future projects. The trackers will help you spot emerging trends and identify potential issues before they become a problem. This means you’ll be able to improve project visibility and transparency across every business function and track activity across your property portfolio.
Estate and portfolio management: Our Portfolio Plan makes it possible for businesses to manage their estate on one platform rather than several systems and spreadsheets and is designed to help businesses manage their estate, projects and assets with ease. You can build multiple property portfolios and coordinate all activity across your entire estate.
Compliance and maintenance: With WorkSavi, we make it possible for you to improve compliance in estate management, including tracking activities and enabling you to set reminders and notifications for important events, such as lease expiries, break reviews, and compliance inspections. This is the same for those who are maintaining properties after development activities, whereby you’re responsible for the ongoing maintenance of the property. In addition, the process of generating lease liability schedules for IFRS-16 reporting becomes stress-free and seamless.
Documentation storage: With WorkSavi you’ll have access to an intuitive property portal that allows you to store and view important documentation for all projects across your estate. This means your entire team will be able to access important info from one centralised database. This provides total peace of mind that you’re all working from the right version of drawings, schedules, specifications and certificates. Also vitally important to have up-to-date access to buyer and tenant documentation, warranties, permits and associated documentation.
Precise reporting: You’ll be able to monitor the metrics that matter most for your business and manage stakeholder expectations effectively. Click here to learn more about bespoke reporting and live status tracking for projects, programmes and portfolios.
Effective project management is essential to coordinate activities, manage resources, mitigate risks, and ensure successful outcomes. If you want to see how WorkSavi could work for your organisation, book a free demo and see our innovative features firsthand.
We can also arrange a free 30-day trial so you can see how WorkSavi will transform the way you work.
