Beyond design, a developer has a plethora of alternate activities that must be conducted to ensure the proper timeline of a project. These various elements can essentially be broken down into three fundamental phases including: predevelopment, construction, and post development. While every project is different and the steps needed to complete it will vary, the basic layout of the process stands. During predevelopment, the team would need to focus on acquisition, due diligence of the property and project, organization, feasibility, financing, and legal aspects such as entitlements. Moving to the construction phase, the activities turn to keeping the project on time and within budget and achieving municipal acceptance. Once construction is complete, more financial and business elements of the asset begin that could include marketing, sales, property conveyance, and overall governance of the project.

In LDEV 663 (Introduction to Project Management), the knowledge acquired about the development process was put to the test in order to construct a Gantt Chart to show the overall timeline of a residential development. The various processes were organized and laid out along the project timeline in accordance with the proper development structure, taking into consideration the duration and dual capacity of the pertinent activities. Additionally, after this chart was completed, the students were tasked with creating a financial model to compare the budgeted costs against the actual costs for the project. This is an important document to the project as it can inform the developer on how to manage funds and show the implications of changes to the potential returns as the project progresses. This spreadsheet is attached below.


File 1