Project Feasibility Study and Timeline for Duplex Construction Project

This report presents a project feasibility study for constructing duplexes in Australia. It analyzes the project's goals, constraints, and both macro and micro environmental factors. The study assesses land selection, construction costs, and potential rental income, determining the project's financial viability and profitability. It includes a detailed timeline for the project, outlining the settlement period, council approvals, and construction phases. The report also examines economic, competitive, resourcing, and demographic factors, as well as technical and internal business drivers, to provide a comprehensive overview of the project's potential challenges and opportunities. The conclusion suggests that the project is viable, with recommendations for proceeding with the construction of duplexes.

PROJECT FEASIBILITY
STUDY AND TIMELINE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Goals and Constraints.............................................................................................................1
Macro Environment business drivers.....................................................................................3
Micro environment business drivers......................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8
APPENDIX....................................................................................................................................10

INTRODUCTION
Feasibility plan has been made on consideration with analysing adequacy of proposed
project of business. It brings determination of profitability and validity of project in upcoming
period. Thus, the investors will have surety based on their invested capital in any projection. In
the present report there will be analysis based on selection of land and constriction of duplexes
for more than 10000 of population in Australia. In relation with this there will be selection of
builder and determination of charges implied on such property. Along with this, there will be
preparation of appropriate time frame for all processes in this project.
Goals and Constraints
As per analysing the objectives of business in relation with identifying opportunities and
determination of accurate targets (Hidalgo-Mazzei, Vieta and Colom, 2015). Analysing the
validity and reliability of plan on which it is necessary to have proper ascertainment and
determination of operations. However, there have been various operational targets which are
needed to be meet by business professionals.
Goals
 To identify the cost incurred in business project.
 To analyse the cost efficiency of projected plan.
 To determine the sources of funds and various internal and external factors of influencing
plan.
Constraints
To develop the cost efficiency plan for business development and management of various
operations on which determining suitable location and funds associated with proposed project is
necessary (Costello and et.al., 2017). To develop duplexes for more than 10000 of population on
which it requires that there is need to have proper operational analysis as well as selection of
suitable area for this residential construction. There can be development of modern building
which are associated with all the facilities and convenience to citizens who will reside in these
houses.
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Figure 1 Plot size and location
(Source: 42B Arlington Park Avenue, 2018)
According to testing the feasibility of plan there has been analysis made on determining a
proper location as listed in Appendix of this project. In Queensland Victoria there has been
selection of one land property which is the most cost convenient as well as have appropriate area
for building and constructing Duplexes. 42B Arlington Park Avenue, Wangaratta, Victoria 3677
has been selected by the researcher sin relation with proceeding the construction plan. Prices of
land is determined for $200000 on which no stamp duty will be levied (Ma and et.al., 2014). The
conveyancing fee has been charged for $372. Land area is approx. 674-meter square. However,
as per analysing all such requirements it can be said that, rates of land as well as expenses will
have incurred in developing duplexes will fit under budgeted amount and cash reserves of
$800000. It has been analysed that the construction cost of Duplex will be around $1,799 which
on estimated for $750000, monthly rental income will be approx. $2700, agent fees of $95 and
Landlord insurance of $68.
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However, as per analysing cost efficiency of plan total income through Houses on gross
monthly rent is of $2700, duplex values at $750000 will be deductible from the expenses. Thus,
the total amount of outgoing has been estimated around $204516.4 and holding costs of $2599.
The conveyancing rate amount left after analysing all income and outcomes which is around
$545483.6 on duplex and 101 on monthly rents. Moreover, it will be recommended to
professionals that they must proceed project it will bring them profitable gains in coming period
(Williams and et.al., 2015). Thus, developing duplexes has been fit under projected plan and
under the limit of cash reserves amounted to $800000.
Moreover, with succession of plan and building the houses which will be based on modern
designs and will be satisfactory for residents in term of having all convenient requirements in
their living (Nieminen and et.al., 2016). Thus, with consideration of such requirements there
have been selection of a builder to construct the duplexes on such property such as Sandy
Fairbrother. Moreover, it will be adequate and helpful for determining the costs and allocation of
proper resources.
Project time frame:
It has been analysed that, this project will take time of approx. 9 months (as listed in
appendix). It will take time around 38 weeks with the influences of three major tasks such as
Settlement period on land purchase (10 weeks), Council development approval (16 weeks) and
Duplex Construction (15 weeks). Moreover, preparing a suitable strategic plan which will bring
promptness to the plan as well as also bring profitable benefits on better cost efficiency on which
this project will be adequate and beneficial (Behn and et.al., 2016).
Macro Environment business drivers
To drive business on a favourable instinct which demonstrates that there will be huge
changes and alterations in professional practices due to various macroenvironmental factors.
There will be various impacts and challenges has been faced by professionals in an industry with
the influences of several factors (Titmus and et.al., 2018). As per analysing various issues and
obstacles which will be helpful in identifying the issues and management of proper operational
practices which in turn will be useful for making qualitative control. However, there can be
various external factors which influences operational prospects in a business such as:
Economic: Before planning projects for developing and constructing activities which will
require operational practices and determination of all activities. It is required that, professionals
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must make analysis on the basis of per person income standard in a location. Thus, economic
conditions and stability will be helpful to professionals in analysing profitability through such
projects (Baker and et.al., 2016). Considering motive of developing Duplexes for more than
10000 citizens it is necessary that costs implied in the process needs to be convenient and
adequate as per meeting financial requirements. Similarly, the market value of land or real estate
property has to be considered by business professionals in making suitable control on expenses
and financial stability.
Competitive: There can be influences of various competitors in business activities which
will have impact on overall performance as well as revenue generation in entity. It is required
that the products and services which have been offered by an industry need to be unique and up-
to the satisfaction of consumers (Coca and Sliško, 2017). The prices of commodities which are
payable by buyers must be convenient as well as competitive as compared to rivalry firm.
Similarly, in this context with developing duplexes there will be requirement of having
adequate and competitive prices on the services made by organisation. There will be large
numbers of rivalries which are stated in the location which will influence buying behaviour of
buyers (Easter and et.al., 2018). The investors may find other location or property more valuable,
on which it requires that there will be appropriate control on methods of making proper control
and management in practices.
Resourcing: Location of property is needed to be near to market or residential area that
will be convenient to the people which are living in the duplexes. Along with this, as considering
other resources that will be helpful in developing land in various duplexes for 10000 populations
which will require higher resources, raw material or workforce in context with the completion of
such task of development (Lanfranchi and Giannetto, 2018). In addition, considering the labour
charges has been levied in particular location will have influences on budgets and financial
aspects of business.
Professionals have cash reserves of £800,000 which will be used in this practice.
Similarly, performing various activities will result in higher costs to industry that will affect the
financial stability. Moreover, capital funds utilised in order to have all necessary resources in
practices of building and developing duplexes based on modern themes on which ascertainment
of accost is quite necessary (MacDonell and et.al., 2015). It will require that, the professionals
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must firstly analyse local market environment and then bring suggestive changes in operational
practices.
Demographic factors: There can be various demographic factors which will affect and
influences operational practices in developing the duplexes. Differences in country, region, age,
economic standard and level of education have impacts on the changes in choices and
preferences towards structure of buildings (5 Forces analysis of the environment, 2018).
Therefore, these are the factors which are needed to be considered by professionals before
designing architecture of duplexes. It is required that there must be proper lightening, space,
water supply and availability of all required resources which in turn helps in bringing better
control on production and development of operations.
The most common issue which incurred in professional’s practices as well as changes in
revenue generation of business. Several rules and regulation which are needed to be planned in
consideration with demographic changes in the location (Milligan and et.al., 2016). Professionals
have approaches towards developing the products as per requirements of consumers varies in
designing, architecture, facilities etc.
Micro environment business drivers
These are the elements which affect operational activities in business due to internal issues.
It will be based on organisational plans, policies and internal environment which will reflect
barriers in growth of entity. In consideration, influences of various internal factors for
developing duplexes there will be variations in the technical, economical and relevant elements.
There can be various micro environment business drivers which in turn affects operational
activities such as:
Technical factors: Lack of technical support such as upgraded software, devices and
methods of operating activities. In relation with becoming more competent and challenging to
the rivalries there is a need of adopting excellence in practices. Implication of various software,
devices in practices will be assistive in analysing the operational requirements and management
of work practices accordingly (Page, 2018). It will bring positive reforms in the process of
performing tasks. Promptness with accuracy as well as proper excellence will reflect in outcomes
of the activities performed by professionals in due period. Therefore, initialling the plan for
developing duplexes needed to have softcopy of structure and ascertainment of costs will be
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implied in all activities. It enables professionals in planning and framing entire process in better
development and management in all practices.
Internal factors: There might be internal disputes which were incurred in practices and
assigning duties to the professionals which are working in organisation. It requires management
of workforces as well as assigning them the duties which will meet their qualification and skills
to perform (Shi and et.al., 2015). Internal stakeholders such as suppliers, employees,
management are the main pillars to an organisation which influence growth and operational
efficiency of business. Ascertaining the requirements of employees who will perform certain
duties has to be assigned with jobs based on their efficiency and efforts.
Time pressure: There can be various issues and obstacles incurred in terms of improper
management of work according to time limit. Proper ascertainment of time limit will help in
making efforts in the practices most efficiently as well as allocation of resources in a favourable
manner (Sullivan and et.al., 2016). In addition, while planning for developing duplex for 10000
citizens there has been estimation of 38 weeks which will be required in the completion of
project. To perform all duties and complete the work within limit will bring ability to
professionals in terms of decision making and planning alternatives for better development of
operations.
People related considerations: There have been influences from internal expertise which
will be performed and operate business tasks. In order to develop duplexes for more than 10000
residents there will be requirement of higher workforce and cost utilised in developing functions.
Due to higher number of employees engaged in practices there will be changes of having work
related conflicts (Behn and et.al., 2016). Thus, resolving these obstacles will be beneficial in
meeting operational efficiency.
CONCLUSION
On the basis of above study and analysis on various factors it can be concluded that planning
and framing the idea to construct duplexes for more than 10000 citizens will be challenging to
the firm. Thus, it will require higher implication of costs, employees as well as proper work-
based management. The availability of resources in performing such tasks will be challenging
and require proper attention. Further, there had been determination of various micro and macro
level of factors which will affect the operational practices in industry as needed to be managed
and determined for better execution.
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REFERENCES
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.30(5-6). p.500.
Coca, D. M. and Sliško, J., 2017. Software Socrative and smartphones as tools for
implementation of basic processes of active physics learning in classroom: An initial
feasibility study with prospective teachers. European Journal of Physics Education .4(2).
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Costello, A. G. and et.al., 2017. Shared Care of Childhood Cancer Survivors: A Telemedicine
Feasibility Study. Journal of adolescent and young adult oncology .6(4). pp.535-541.
Easter, M. and et.al., 2018. Carbon Sequestration Pilot Project Feasibility Study.
Hidalgo-Mazzei, D., Vieta, E. and Colom, F., 2015, December. Self-Monitoring and
Psychoeducation in Bipolar Patients with a Smart-phone application (SIMPLe) project:
Preliminary results from a feasibility study. In Proceedings of the 5th EAI International
Conference on Wireless Mobile Communication and Healthcare (pp. 227-230). ICST
(Institute for Computer Sciences, Social-Informatics and Telecommunications
Engineering).
Lanfranchi, M. and Giannetto, C., 2018. A feasibility study for a project of alternative energy
production in an agritourism business in Sicily. International Journal of Environmental
Studies. 75(2). pp.334-342.
Ma, T. and et.al., 2014. Technical feasibility study on a standalone hybrid solar-wind system
with pumped hydro storage for a remote island in Hong Kong. Renewable energy. 69.
pp.7-15.
MacDonell, K. K. and et.al., 2015. B94 REDUCING HEALTH DISPARITIES FOR
CHILDREN WITH ASTHMA: The Detroit Young Adult Asthma Project: Feasibility and
Acceptability of a Multi-Component, Technology-Based Intervention Targeting
Adherence to Controller Medication. American Journal of Respiratory and Critical Care
Medicine. 191. p.1.
Milligan, G. and et.al., 2016. Hill of Banchory Geothermal Energy Project Feasibility Study
Report.
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Nieminen, K. and et.al., 2016. Treatment of nulliparous women with severe fear of childbirth via
the Internet: a feasibility study. Journal of Psychosomatic Obstetrics & Gynaecology.
37(2). pp.37-43.
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Sullivan, C. M. and et.al., 2016. Disseminating the community advocacy project in Mexico: a
feasibility study. Journal of interpersonal violence, p.0886260516663901.
Titmus, E. and et.al., 2018. Opportunistic Immunisation in the Outpatients Department: A Pilot
Feasibility Study. Journal of paediatrics and child health. 54(7). pp.819-819.
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Online
42B Arlington Park Avenue. 2018. [Online]. Available through :<
https://www.realestate.com.au/property-residential+land-vic-wangaratta-202204578>.
5 Forces analysis of the environment. 2018. [Online]. Available through :<
https://economictimes.indiatimes.com/definition/5-forces-analysis-of-the-environment>.
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APPENDIX
Project Feasibility study:
1. Land Information
Land Address: 42B Arlington Park Avenue
Suburb/Town: Wangaratta Victoria 3677
Land Size: 674
2. Purchase Information
Land Price: $200,000
Stamp Duty: $0
Conveyancing Fees: $372
3. Local Council Information
Local Council Name: Victoria
Minimum Land Allotment Size: 16.41
Development Planning Fees: $2,345
Monthly Council Rates: $2,436
4. Construction Information
Builder Name: Sandy Fairbrother
Duplex Construction Costs: $1,799
5. Duplex Information
Duplex Estimated Value: $750,000
Monthly Rental Income: $2,700
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Monthly Agent Fees: $95
Monthly Landlord Insurance: $68
5. Duplex Information
Duplex Estimated Value: $750,000
Monthly Rental Income: $2,700
Monthly Agent Fees: $95
Monthly Landlord Insurance: $68
Project Timeline:
Project Timeline
Weeks
Settlement
Period on Land
Purchase
Council
Development
Approval
Duplex
Construction
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