Strategic Project Management Research Paper 2022

Running head: STRATEGIC PROJECT MANAGEMENT
Strategic project management
Name of the Student
Name of the University
Author’s Note

STRATEGIC PROJECT MANAGEMENT
1
Table of Contents
1. Introduction..................................................................................................................................2
2. Feasibility analysis.......................................................................................................................2
3. Constraints and goals...................................................................................................................7
4. Macro environment business drivers...........................................................................................7
5. Micro-environment business drivers...........................................................................................8
6. Conclusion...................................................................................................................................9
References......................................................................................................................................10

STRATEGIC PROJECT MANAGEMENT
2
1. Introduction
The paper generally focuses on the project of residential duplex development in which a
real-estate for business is owned with the cash reserve of around $800,000 for finishing the work
of project development in 619, Lonsdale Street, Victoria, Australia. The project aims to develop
equity and income as much as probable. It is found that that for progressing with the project, it is
necessary to create both the feasibility study and the project timeline for reflecting the real
information. Additionally, the paper properly illustrates different types of constraints and project
goals so that the project manager can reduce the limitations and can progress properly for
achieving the goals. Moreover, the paper also highlights micro and macro environmental
business drivers in the project.
2. Feasibility analysis
According to Bhosekar and Ierapetritou (2018), feasibility study is defined as one of
assessment of the proposed project that helps in uncovering the strengths as well as weaknesses
of the proposed project successfully. It is identified that the feasibility analysis is helpful in
determining the viability of the idea by properly making sure that the undertaken project is quite
feasible and very much economical. In order to develop the feasibility study for this specific
project, few terms are needed to be used which are mainly reflected below:
Stamp duty: It is generally referred as one of the taxes that is charged on different types
of equipment’s including different types of legal documents including the receipts as well as
cheques (Scanlon, Whitehead and Blanc 2017). The stamp duty value varies and it mainly
depends on the area in which the land is situated and the value of property that is present within
the market. For this specific project, it is found that around $ 15,000 is paid as stamp duty.

STRATEGIC PROJECT MANAGEMENT
3
Conveyancing fees: The conveyancers are mainly the qualified professionals who are
specialized in all the different aspects of property related dealings and in order to deal a property
they charge a fee which is further known as the conveyancing fees. For undertaking the
residential project, the work that is associated with ownership transfer as well as preparing and
lodging of different types of documents for successfully finishing the property transaction, it is
analyzed that around $9,000 is charged as the conveyancing fees.
Minimum land allotment: It is opined by Dippel and Frye (2019) that the procedure of
land allotment is mainly followed by lease deed execution such that the lease deed certification
gets issued by the authority for different types of permissive possession. For the residential
duplex project, the land that is allotted is around 9,000 square feet within the Glen Eira Town
Hall and city council.
Devolvement planning fee: It is found that the development planning fee is the
compulsory charge that needs to be paid for the development of duplex residency in Australia. It
is found that the contractor generally charges $42,000 as development planning fee for
successfully developing the residential duplex in Australia.
Monthly council rates: Each of the council generally collects rates from different
residents as well as businesses that are present in its municipality in order to fund the money for
the local infrastructure as well as services (Snyder et al. 2017). It is found that the councils
generally utilize different types of property values in order to distribute the burden of rating. The
money which is generally paid as rates to the council can generally be calculated by determining
the total amount of rate that is needed as well as by dividing the total value with the help of
various types of relatable properties for successfully establishing the rates in dollar. For this
particular project, it is found that around $4,000 is paid on monthly basis to the council.