Project Feasibility Study and Timeline for Residential Duplex Development

Running head: PROJECT FEASIBILITY STUDY AND TIMELINE
Assessment 2 – Project Feasibility Study and Timeline
Residential Duplex Development in 34 Hartford Avenue, Glen Alpine, New South Wales (NSW)
Name of the Student:
Name of the University:

1PROJECT FEASIBILITY STUDY AND TIMELINE
Introduction
The significant role of a project manager can be overlooked easily for real estate projects.
In order to keep any project in scheduled time and budget it is essential for project supervisor
and team associates to conduct proper feasibility analysis in terms of technical and operation to
ensure contract success. The location which is selected for this real estate project is 34 Hartford
Avenue, Glen Alpine, New South Wales (NSW) Australia.
Construction initiatives and property transactions need multiple steps, multiple inputs
from the stakeholders and budget. Both macro and micro businesssub environment are analyzed
before the project initiation. The macro business environment for the real estate project deals
with economic and demographic factors, resources and market competitiveness. On the other
hand, the micro business environment deals with technical, time and people related
considerations. A feasibility report is represented in the paper to ensure that it will be
accomplished in the reserved commercial funding of of $800,000 and time of 9 months.
1. Constraints and project goals
1.1 Project constraints
1.1.1Time
Time constraint estimates the time that a project would take for its successful completion.
Excellent time management needs proper planning, monitoring and control over the project
activities. Time management is a major function or tool that helps to track the project supervisor
to check that whether the project is running on schedule or not. The total time estimated for the

2PROJECT FEASIBILITY STUDY AND TIMELINE
duplex building construction project is 9 months which implies that the project must be
completed in 9 months. Thus, it is reasonability of the plan team associates to absolute the
project within assigned time of 9 months without any extension.
1.1.2 Scope
A well defined project scope ensures project success by giving a clear mission, vision and
direction to the project associates. Before initiating the project, supervisor needs to design and
share a scope statement with rest of the team associates to make the project outcome a successful
one. The scope of the project is to construct a duplex (two attached residence) on 34 Hartford
Avenue, Glen Alpine in New South Wales (NSW). The scope document identifies the details of
the stakeholders and strategies that will be applied to keep them engaged with the assigned
responsibilities. Details project kick off meetings, pattern of communication, activity details and
resource (physical and human) for the plan are also convoluted in the scope statement. The
finance manager will conduct a feasibility analysis to ensure that whether the project will be a
successful or not. Detail project timeline is also elaborated in this scope document. The primary
objective of the project is to construct the duplex building at a minimum cost.
1.1.3 Budget
The project budget needs to be estimated based on project requirements, time, resources
and complexity. In order to keep the construction project on track and boundary proper
feasibility analysis report should be presented by the supervisor. For estimating project cost
different tools and techniques are available. Cost benefit analysis is the nest suited approach that
has to be used by the scheme supervisor to estimate the overall project cost. Parametric project
estimation technique will help to identify the total budget. The project sponsors have reserved a

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cash funding value of $800,000 for the completion of the project. It has been resoluted that if the
finance head fails to estimate correct budget then the project will fail to meet the objectives.
1.2 Project goal
The project goal is to construct the duplex building project in estimated budget of
$800,000 and time of 9 months in 34 Hartford Avenue, Glen Alpine, New South Wales (NSW)
location.
2. Feasibility study report for the real estate construction project 350
2.1 Feasibility analysis report
Project Feasibility Study
1. Land Information 2. Purchase
Information
Land Address: 34 Hartford Avenue, Glen
Alpine, New South Wales
Land Price: $300,000
Suburb/Town: Glen Alpine, Sydney Stamp Duty: $22,000
Land Size: 1.5 acre Conveyancing Fees: $12,000
3. Local Council
Information
4. Construction
Information
Local Council Name: Campbell town Builder Name: Glen Alpine