Project Lifecycle Investigation in Property Development Business

This case study investigates the project lifecycle in a property development business, focusing on a construction company in Middlesbrough. It explores how project lifecycle phases are implemented, the challenges faced, and the benefits realized within the construction industry. The study employs a mixed-methods approach, combining quantitative data analysis with qualitative insights gathered through interviews. The findings highlight the critical role of project lifecycle management in ensuring project success, cost reduction, and improved service delivery in property development. The research also touches upon the importance of effective communication, collaboration, and information sharing throughout the project lifecycle phases, including initiating, planning, implementing, and closure.

Running head: PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
An Investigation into Project Life Cycle in Property Development Business: A Case Study of
Construction Company
Name of the Student:
Name of the University:

1PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
Abstract
The project lifecycle has employed into the management of the construction projects in order to
reduce entire project cost, moment, and risk as well as get better services to the project owners.
Due to lack of efficient information sharing platform, project lifecycle into the construction
projects are used effectively for tracking the project plan and getting profitability into the
business operations. Effective implementation of project lifecycle into the construction projects
are relied on visual communication as well as collaboration on the information platform. Due to
increase in complexity of the project, great deal of information is required. The construction
project lifecycle is developed as business approach to manage products as well as services. As a
result, the phases of project lifecycle are initiating, planning, implementing and closure. In this
study, the data are collected through using mixed data analysis approach where quantitative data
is analyzed by statistical form and qualitative data is analyzed through interview data analysis.
The findings of this study are that project lifecycle is a required process into the construction
industry for project success.
Keywords: Project lifecycle, construction, collaboration, communication, collaboration.

2PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
ACKNOWLEDGEMENT
Conducting this research has been one of the most enriching experiences of my life. The
contribution of this research to enhance my knowledge base and analytical skill has been
paramount. It gave me the opportunity to face challenges in the process and overcome them. This
would not have been possible without the valuable guidance of my professors, peers and all the
people who have contributed to this enriching experience. I would like to take this opportunity to
thank my supervisor ----------------------- for the constant guidance and support provided to me
during the process of this research. It would not be justified if I did not thank my academic
guides for their important and valuable assistance and encouragement throughout the research
process. I would also like to thank my friends who had provided me with help and
encouragement for collecting primary data and valuable resources. Finally, I would like to thank
the professionals from the construction industry who have participated in the research survey and
provided with valuable inputs into the subject. The support of all these people has been inspiring
and enlightening throughout the process of research in the subject.
Heartfelt thanks and warmest wishes,
Yours Sincerely,

3PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
Table of Contents
Chapter 1: Introduction....................................................................................................................8
1.1 Background of the study........................................................................................................8
1.2 Aim of the study....................................................................................................................8
1.3 Objectives of the study..........................................................................................................8
1.4 Research questions.................................................................................................................9
1.5 Problem statement.................................................................................................................9
1.6 Rationale of the study............................................................................................................9
1.7 Chapter summary.................................................................................................................10
Chapter 2: Literature Review.........................................................................................................11
2.1 Introduction..........................................................................................................................11
2.2 Phases of project lifecycle in property development...........................................................11
2.3 Research on construction management carried out contract in Middlesbrough and Teesside
University..................................................................................................................................13
2.4 Benefits of project lifecycle in property development........................................................16
2.5 Project lifecycle model........................................................................................................17
2.6 Summary..............................................................................................................................17
Chapter 3: Research methodology.................................................................................................19
3.1 Introduction..........................................................................................................................19

4PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
3.2 Research philosophy............................................................................................................19
3.3 Research approach...............................................................................................................20
3.4 Research Design..................................................................................................................21
3.5 Data collection procedure....................................................................................................22
3.5.1 Data Sources: Primary and secondary..........................................................................22
3.5.2 Data techniques: Qualitative and quantitative..............................................................23
3.6 Population and sampling......................................................................................................23
3.6.1 Sampling technique......................................................................................................23
3.6.2 Sample size...................................................................................................................24
3.7 Ethical consideration...........................................................................................................24
3.8 Research Limitation.............................................................................................................24
3.9 Research timeline.................................................................................................................25
Chapter 4: Data Analysis and Findings.........................................................................................26
4.1 Introduction..........................................................................................................................26
4.2 Quantitative data analysis....................................................................................................26
4.3 Qualitative data analysis......................................................................................................42
4.4 Discussion............................................................................................................................45
Chapter 5: Conclusion and Recommendations..............................................................................47
5.1 Conclusion...........................................................................................................................47
5.2 Linking with the objectives.................................................................................................47

5PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
5.3 Recommendations................................................................................................................49
Chapter 6: Critical reflection on research process undertaken......................................................50
References......................................................................................................................................52

6PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
Table of Figures
Figure 4.1: Gender.........................................................................................................................27
Figure 4.2: Age group of respondents...........................................................................................28
Figure 4.3: Role of the respondents...............................................................................................29
Figure 4.4: Experience of respondents..........................................................................................30
Figure 4.5: Project management practices.....................................................................................32
Figure 4.7: Monitor and control the project program and portfolio..............................................35
Figure 4.8: Documentation and controlling in property development..........................................36
Figure 4.9: Improve environmental situations in construction project..........................................38
Figure 4.10: Create roadmap to organize and manage construction project.................................39
Figure 4.11: Cost budgeting in project lifecycle...........................................................................41
Figure 4.12: Contract close out in project lifecycle.......................................................................42

7PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
Table of Tables
Table 4.1: Gender..........................................................................................................................27
Table 4.2: Age group of respondents.............................................................................................28
Table 4.3: Role of the respondents................................................................................................29
Table 4.4: Experience of the respondents......................................................................................30
Table 4.5: Project management practices......................................................................................31
Table 4.6: Project management methods.......................................................................................33
Table 4.7: Monitor and control the project program and portfolio................................................34
Table 4.8: Documentation and controlling in property development............................................35
Table 4.9: Improve environmental situations in construction project...........................................37
Table 4.10: Create roadmap to organize and manage construction project...................................39
Table 4.11: Cost budgeting in project lifecycle.............................................................................40
Table 4.12: Contract close out in project lifecycle........................................................................41

8PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
Chapter 1: Introduction
1.1 Background of the study
The paper is based on “An investigation into project life cycle in property development
business: A case study of any construction company”. The property development is considered
as profitable business in Middlesbrough. The project work is examined how the project lifecycle
is being implemented in the business with view on the property development company. Stark
(2015) stated that enhancement of the project lifecycle boosts the construction industry for
development over national as well as world economy. Onuoha, Aliagha and Rahman (2018)
argued that purchase of constructed facility is a capital investment. Commitment of the project
resources for construction investments is being stimulated by means of market demand plus real
needs.
1.2 Aim of the study
The aim of this research study is to investigate the project lifecycle for property
development in the construction industry. A case study analysis is performed with comparison
with the property developing companies.
1.3 Objectives of the study
Following are the objectives of research study such as:
 To investigate research on project lifecycles in property development
 To research on popular construction companies that have carried out recent contract
around Middlesbrough and within Teesside University

9PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
 To research on recent and current projects by price right properties
1.4 Research questions
Following are the research questions based on which entire research studies are to be
carried out such as:
1. How project lifecycle phases are used in property development business?
2. What are challenges of project lifecycle for development in the construction industry?
1.5 Problem statement
The project lifecycle phases are consequences in the property development business
when there is inadequate project scope. Then, it is critical to achieve of the construction project.
One of the biggest causes of inadequate scope is rushing of time estimation. The property
development encompasses activities which range from renovation as well as discharge of
existing buildings to procure of land along with trade of land to others. In this case, if the project
scope is not properly identified, then it leads to imperfect building and construction work. In the
construction project, design errors plus constructability issues are raised before the construction,
where the problems are occurred in process of construction.
1.6 Rationale of the study
This research topic is selected as it presents factors which affect management of
construction projects, features to manage complex project based on uncertainty at project
lifecycle stages. This paper is based on improving quality of construction projects by using
project lifecycle phases in property development. Relevance of the project lifecycle is beneficial
for buildings construction will increase for the construction industry.

10PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
1.7 Chapter summary
It is summarized that project lifecycle is employed in management of the construction
projects in order to reduce lifecycle cost, schedule and improve the service to project owners.
Owning to lack of effective information sharing platforms, the construction project is not
successfully used into the construction industry. The construction project management is
separated in planning, designing, construction and commissioning of work. Most of the design
work is required to modify because of design errors and unfeasibility.

11PROJECT LIFECYCLE IN PROPERTY DEVELOPMENT BUSINESS
Chapter 2: Literature Review
2.1 Introduction
This chapter is based on an investigation into project life cycle in property development
business based on the case study of Construction Company. The project lifecycle is outlined the
construction and technical work and defined the project deliverables which are necessary to
finish the construction projects. The property development is most profitable businesses in
Middlesbrough. The project is examined how the project life cycle is being implemented into the
business with view on the property development company (Stark 2015). The paper is based on
phases of the project lifecycle into the property development with reviewing a research on the
construction companies which are carried out research around Middlesbrough and within
Teesside University. The research work is carried out on the recent as well as current project by
means of price right properties.
2.2 Phases of project lifecycle in property development
Harrison and Lock (2017) stated that the project lifecycle is included project phases
which are based on six phases of the project management lifecycle. The phases are organized
based on the construction project as well as ensured that it can flow efficiently from staring to
the project end. The phases are as follows:
Requirements and analysis: This phase described the problems which are required to
solve and project objectives. Kerzner and Kerzner (2017) discussed that the analysis of project
work is being conducted to explore relationships among components of products and systems to
meet with project requirements.