Real estate is a capital which yields valuable profits overtime. Some of the factors that affect the property value are location, structural finish, aesthetics features, amenities/facilities/ and/or services, general surroundings and economic and/or political conditions. All of these stages undergo a planned and coordinated project activity.
The dependencies- human, capital, technology, engineering process and sustainable solutions- all five major components are essential in the smooth execution of a practical project management in any real estate development.
Project Management is the application of Knowledge (time management), Skills (proficiency in using applied techniques), Tools and Techniques (activity), to project activities to meet project requirements. In real estate industry especially in the development undertaking, a project management among others comprises financial planning, legal preparation, engineering, marketing and construction all put up together as a complete project plan. Well-planned project management has a positive impact on the quality of construction in real estate. [Read more…]