The development plans and strategies for a project have to be well thought out and documented. If the development team and contractors do not know exactly what to do, they will end up doing the wrong things or do things at the wrong times.
With ever more complex projects and ever tighter margins for profits, developers cannot afford to run blindly through a project.
Everything needs to be planned out in detail. Let's look at how to properly execute a project.
Essential elements that form part of successful development planning:
Everything needs to be done to a set timeframe. All the contractors and consultants all need to know ahead of time when they need to complete the various steps of their work. This allows smooth transitions between the different stages of a project. To oversimplify, for example, you cannot have your painters turn up before the drywall is finished.
Design & specification:
All the work that needs to be done needs to be agreed ahead of time. How do you want things to look and what type or brand of items are to be used?
If the design and specification are not set out in detail contractors could unknowingly use lesser quality products or more expensive products than what you had intended. Colours could be completely wrong. Features could be in the wrong places. The better you plan, the less likely there will be a need for remedial work or alterations during the construction process. (All of which adds up to massive increase in expense on a project) A costly example of a planning oversight I recently saw was where all the bedroom light switches and thermostats were installed in the where custom ordered built in wardrobes were due to be installed.
I am still surprised to see how many projects do not pay enough attention to budgets. I believe the lack of budget control is the most significant reason for cost overruns on projects. As a project goes along the budget needs to be updated and adjusted. I do not know of any initial project budget that was ever 100% perfect, so when things change, it needs to be accounted for, either by conscientiously deciding to increase the budget or by reducing expenses elsewhere in the budget.
With fluctuating prices of a commodity like materials, for example, cement. The cost that you included in the budget when you were at the start of planning phase can be vastly different from where it might be on the day that you can order it. Your budget will need to be adjusted accordingly.
These points highlight just three essential items to consider when planning your project, all of which are important and could spell disaster for your project if overlooked.
Don't forget to plan.
What have you found to be the most critical items to plan for in projects big or small?