Property development is only possible with risk management planning. Risk Management, which is the science and art of analyzing the most risky areas in order to assess the feasibility of property development projects and allocate resources accordingly, allows property investors.
Investors will be able to gain the competitive edge in the new economy by having a clear understanding of the development process as well as the ability to quantify risks.
Below is a list of key risk management considerations for property development and planning.
Level 1: Assessment of Impacts
Assessment of Industry Standards 1.1
Analytical assessments allow property owners to compare their facilities to industry and business standards. An industry standard evaluation can be used to plan physical building projects.
Assessment of the Socioeconomic Impacts
Analytical assessments allow property owners to identify the status of socioeconomic effects on current and future facilities in relation to changes in their business environment. This assessment can be used for planning physical buildings projects to identify socio-cultural and economic impacts.
1.3 Assessment of Operational Needs
Property owners can use the inclusive process to identify business and operational needs that will serve as a basis for planning physical building projects.
1.4 Condition Assessment (Existing Property)
This program allows property owners to manage their properties better and set budgets for maintenance and repairs.
1.5 Identification of Strategic Planning Objectives
Allows owners to identify and prioritize programming requirements as they relate to the planning of future sites and building projects.
Level 2 Concept Development
2.1 Planning for a Conceptual Site/Campus
This allows owners to determine the risk of investment based on how well programmed elements function and fit on the existing site.
2.2 Conceptual Building Design
Allows owners to determine their investment risk by looking at how the basic building configuration is constructed on the proposed site.
2.3 Conceptual Phasing Program
Owners can review the long-term and short-term project phasing, and their impact on facility criteria like operations, capital expense, and projected business growth.
Level 3: Environmental Plan
3.1 Introduction to Sustainable Building Strategies
This allows property owners to evaluate the impact of different planning strategies on their long-term building costs and consider other environmentally friendly options.
3.2 Environmental Evaluation
It allows property owners and managers to create a conceptual environment survey of existing facilities that can be used as a point of reference in future planning projects.
3.3 Recommendations for Sustainable Building
As an update to existing facilities, propose concepts for environmental building strategies.
Level 4: Risk Management Plan
4.1 Review of Surveys and Reports
Owners can quickly review the technical aspects of a site before they invest significant time or money.
4.2 Zoning Analysis
Property owners can assess their risk of investment based on the compliance of the proposed site plan and building with local planning and/or zoning requirements.
4.3 Analysis of the Building Code
This tool allows owners to determine their investment risk using current building codes and amendments.
4.4 Risk Management Scheduling
Allows owners to evaluate overall investment risk in relation to project timing and funding requirements.
4.5 Cost Estimating
Allows owners to determine investment risk in relation to overall project costs. Also provides a complete figure of construction related costs that can be included into financial analysis.
Level 5: Implementation plan
5.1 Long Range Physical Planning Strategy
This format is used by property owners to provide a concise, integrated guide for long-range planning of physical facilities.
5.2 Short-Term Physical Planning Strategy
This format is used by property owners to provide a concise, integrated guide for the short-term planning of their physical facilities.
Create a plan. Plan. You’ll be happy you did.