APDI Program Unit – Development Management
Development Management covers the lifecycle of the development process and strategies for managing this process within financial, regulatory, and contractual frameworks.
Students are exposed to the relevant stages of the development process through the utilisation of case studies, introduced at the beginning of the unit and developed throughout the semester allowing students to apply practical management strategies to industry examples.
Development Management focuses on the planning process, from the acquisition of raw land, financing, obtaining planning approval, preparing and managing a budget, right up until the construction, marketing, sales and settlement stages.
Furthermore, this course asks students to delve into the environmental considerations of property development management and look at ways to operate ethically and within a framework of sustainability.
Introduction to Development Management
The skills, attributes and characteristics of a successful development manager and an overview of the tools and stages of development management, from raw land to completion.
The Development Implementation Strategy
The development of a project plan, the design stage including consultant contracts and consultant schedule:
- Organisational objectives
- Development Strategy
- Developing a project brief
- Stakeholder Identification and Engagement Strategy
- Design Programme
- Consultant team procurement
- Design and documentation process
Time and Cost Management
Budgeting, acquisition costs, the pricing of construction work, stamp duty, rates and taxes, interest, marketing costs, using cost data and the strategies used to manage costs during design, development and construction.
- The role of the Cost Planner
- Functional and Elemental cost plans
- Construction budget
- Trade breakdowns
- Bills of Quantities
Total Project Cost Control including:
- Development Budget
- Consultant Budget
- Construction Budget
- Authority Budget
- Contingency Budget
Planning Approval and Authorities
The regulatory framework, the mechanisms and requirements for obtaining approval, the associated issues and strategies to address them:
- Statutory Planning Control framework(s)
- Consent Authority Planning Controls
- BCA and relevant codes
- Australian Standards
- Sustainability and Heritage Requirements
The types of contracts required, procurement, maximising output for cost, the right people, and managing people.
Form of contract and Contract Conditions
Project programming applicable to:
- Overall project
- Procurement methodologies
- Delivery methods
- Contract Administration
- Practical Completion
Sales and Marketing
Developing a marketing strategy and branding, communicating with a target audience, online and offline media, channel marketing and other considerations.
Project Funding and Financial Close
Methods, metrics and measures utilised and required to be understood to secure funding. The borrowing capacity and pricing for development finance, mezzanine capital and equity, loan to value ratio (LVR), loan to development cost ratio (LCR) and interest cover ratio (ICR).
Site Handover and Construction Delivery
Site handover, risk assignment and contractual requirements.
Preliminaries, project management, contract administration.
Cost certification, latent conditions and variations.
The Settlement Process
Negotiating leases and sales, managing customers and stakeholder relationships.
Finalise consultant and builder contractual obligations.
Establish budget for post completion works.
Management of Post Construction defect rectification.
The identification, measurement, pricing and management of risk associated with the delivery of projects.
- Risk identification, analysis and mitigation
- Risk sharing strategies
- Risk allocation
The environmental considerations associated with property development and how to manage within these parameters in the interests of investors/occupiers.
- Greenstar Ratings