Land Development Investments

Land development is the process whereby a property or land developer studies the market, finds a suitable piece of land to invest in and builds on it intending to sell or rent the property. A multifaceted job, land development requires exceptional project management skills to ensure that the project is finished on time–and within budget.

How To Manage a Land Development Project
For both the uninitiated and seasoned project managers, project managing a land development project successfully depends on balancing money, time, and quality. Developers need to spend less money, take less time, and produce a higher quality product to compete with other land and property developers. That may be an oversimplification, but keeping track of each step in the process, managing people, managing time frames, and managing budgets are the foundation of a successful and profitable property development project.

Why Land Developers Use Project Management Software
Within the framework of time, budget, and quality, there is almost an infinite number of variables, which is why one person alone is seldom successful in keeping track of the smaller details. When used correctly, project management software is a powerful tool that puts progress reports, budgets reports, communications, and timelines into one easy-to-access place for the entire team to refer to as needed.

“In real estate development, you're in charge.” If only! Real estate development is one of the most collaborative endeavors there is. Developers have to connect with agents to evaluate and acquire the target property. They need to obtain funding from investors and bankers. Developers are constantly interfacing with architects, suppliers, general contractors and subcontractors. And don't forget that, at every step, inspectors and government officials are literally in charge of the project's momentum and ultimate success or failure.