PM
What are the main 3 resources in a project?
People Time and Money
Management Project Activites (implementation)
Cost, Schedule and Contractor Managment, Quality Control.
Real Estate transactions occur in these two distinct interrelated markets?
Space Markets and Asset Markets
Stage 8 transitions the process from _ to_
Development to ongoing operation and managment o&m
A coordinated and systematic way to develop a course and direction for your company.
Strategic Plan
What are the 4 phases of projects?
Planning, Build-up, Implementation, Phase-out
A chart in which the critical work elements, called tasks, of a project.
What is a Work Breakdown Structure (WBS)
What is the space market?
Driven by the demand for space by users. Influenced by supply, unemployment rates.
Functions of Management
Maintaining tenant relations, collecting rent, paying bills, releasing space, maintiannce, conserving energy, provding security, supervising personanel and coordinating insurance.
Items included in a Strategic Plan
Executive Summary, Mission Vision and Value Statements, Analysis, Action Plan, Budget and Operating Plans, Detailed Monitoring and Evaluation Method.
Objectives of Planning
Define the problem, identify stakeholders, set objectives, define activites.
Why would you create a WBS?
Estimate the project cost, establish dependencies, determine a timeline and schedule.
What is Asset Markets?
Investors searching for returns/ good NOI.
Property Manager tasks
•Tenant relations and retention
•Rent collection
•Control of operating expenses
•Financial reporting and record keeping
•Maintenance of property
•Planning capital expenditures
•Crisis management
•Security issues
•Public relations
Things you would look for to analyze property problems and oppourtunities:
Physical condition, operating history, market conditions and how it compares to the competition.
Planning and Development Project Activites
Feasibility Studies, Market Research
CPM, PERT and Gantt.
What are examples of scheduling tools?
What is the relationship that the developer plays within the space and asset manager?
The developer acts as a link between the financial resources/asset market and new built space/space market.
Asset Manager Tasks
•Developing property strategic plan
•Analyzing whether to hold or sell the property
•Reviewing opportunities to reposition properties and to justify major expenditures
•Monitoring property performance
•Managing and evaluating the property manager by comparing property performance with peer properties in the particular submarket
•Assisting in tenant relations
What objectives/factors do you need to keep in mind during site+project selection.
Market conditions, investor needs, tenant requirements, portfolio considerations.
Completion Project Activites
Placing property into service, selling or leasing property, staffing site.
PERT stands for...
Performance Evaluation and Review Technique
All of the activities associated with identifying the particular wants and needs of a target market... and going about satisfying those customer.
What is marketing?
Portfolio Manager Tasks
•Communicating with investors and setting portfolio goals and investment criteria
•Defining and implementing portfolio investment strategy
•Overseeing acquisitions, dispositions, asset management, and reinvestment decisions
•Accountable for portfolio performance
•Client reporting and cash management