University Project: Residential Duplex Feasibility and Timeline

This report presents a comprehensive feasibility study and project timeline for the development of a residential duplex in Preston, Australia. The project aims to maximize equity and income within a nine-month timeframe, supported by an $800,000 cash reserve. The study meticulously examines project feasibility, including stamp duty, conveyancing fees, council rates, and estimated property values. It outlines project constraints such as time, budget, and scope, alongside clear project goals. Furthermore, the report delves into macro and micro environment business drivers, providing a holistic understanding of the project's context. The analysis covers economic, demographic, and competitive factors, as well as time-related pressures and technical perspectives. The report concludes by emphasizing the importance of both the timeline and feasibility reports in assessing the project's viability and the decisions that contribute to its success. The document is intended to aid in the development of real estate development projects.

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

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Table of Contents
1. Introduction..................................................................................................................................2
2. Project feasibility study...............................................................................................................2
3. Constraints and goals...................................................................................................................6
3.1 Constraints.............................................................................................................................6
3.2 Goals......................................................................................................................................6
4. Macro environment business drivers...........................................................................................6
5. Micro environment business drivers............................................................................................8
6. Conclusion...................................................................................................................................9
Bibliography..................................................................................................................................10

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1. Introduction
The paper mainly develops feasibility and project timeline report for the successful
development of residency in 126, Friargate, Preston, Australia. The main aim of the project to
make equity and income as much as possible. It is found that for the development of the duplex
building within the time frame of 9 months, $800,000 cash reserves are provided. Additionally,
the paper also showcases on the micro as well as macro environment related with the drivers of
the business. Moreover, the paper also elaborates the goals and the various types of constraints
that limit the entire project.
2. Project feasibility study
It is stated by Mukherjee and Roy (2017) that the feasibility study is mainly defined as
the analysis that mainly considers all the significant project factors including economic,
technical, scheduling as well as legal criteria for ascertaining the likelihood of completing the
work of the entire project effectively. The analysis on the feasibility of the project is mainly
undertaken for successfully illustrating the success which further helps in ensuring that the
developed project will be quite feasible. It is identified that for checking the project feasibility
that focuses on development of residential duplex, it is quite important to consider the following
terms which are illustrated below:
Stamp duty: It is stated by Scanlon, Whitehead and Blanc (2017) that stamp duty is one
of the tasks which is mainly required for levying on different types of documents which are
mainly related with land transaction. It is identified that when the land for the project is
successfully transferred then the money for stamp duty gets imposed which is further referred as

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stamp tax. In order to develop the residential duplex building, stamp duty which is imposed is
around $10,000
Conveyancing fees: It is opined by Channell (2018) that it is one of the acts which is
used for engaging within a particular activity for successful transfer of the land to the buyer from
the landlord. In order to pay the conveyancing fees, it is necessary to review the conveyance
document that mainly includes information that are related with lease for transferring the title of
the entire land successfully.
Council’s monthly rate: It is the change which is pad in the last week of the month
during the development of residency in Australia. The value or money which is paid to the entire
council every month that is further dependent on lot of criteria as well as factors and thus the
money which is mainly paid is not a constant amount and it varies every month.
Minimum size allotment: The allotment of land size can be properly measured by the
management metric like either perches or poles and therefore this specific technique is utilized
further for measuring the land quite effectively. Furthermore, 10 poles mean 250 sq. meters and
therefore it is analyzed that the land that is allocated for the development purpose is done in
either poles or perches (Rastogi and Chaturvedula 2018).
Estimated duplex value: The money which is mainly needed for successfully
constructing the duplex residency can mainly found as the total value that is estimated for the
development of residency. For successfully constructing the in residency in Preston Australia, it
is found that $800,000 money is allocated.
Monthly agent fees: It is the money or fee that is required to be provided every month to
the agents for successfully carrying out different types of activities so that the residency duplex

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building can be constructed on time. The agent takes this money for providing various types of
resources which are mainly required for the work of the project.
Monthly rental income: The income which is mainly achieved every month from the
duplex residency rents are considered as the rental income. In most of the cases, during the
project initiation phase, there is a problem related with funds then at that time the customers get
the opportunity of making the payment on a monthly basis in installments.
Equity value: It is one of the ways with the help of which the organization can be
capable of achieving benefit or profit in context to the standpoint of the sales (Campbell, Galpin
and Johnson 2016). Moreover, this particular concept is generally utilized for providing proper
valuation. In addition to this, they generally contain the value of the company’s share as well as
the share that the shareholder has generally made available to the entire business.
Monthly landlord insurance: It is found as an important insurance policy which is very
much beneficial for the landlords because as per this particular policy, any financial loss or
hamper within the building will be covered by the insurance company such that the owner does
not face any type off financial issue at that time.
The feasibility study which is done properly on the residential duplex building is mainly
showcased in the table that is given below:
Project Feasibility Study
1. Land Information 2. Purchase
Information
Land Address: 126, Friargate, Preston,
Australia
Land Price: 2,90,000

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Suburb/Town: Preston Stamp Duty: $10,000
Land Size: 10,000 square feet Conveyancing Fees: $5,500
3. Local Council
Information
4. Construction
Information
Local Council Name: Fylde Borough
Council.
Builder Name: Fulton
Hogan
Minimum Land
Allotment Size:
8,000 Duplex Construction
Costs:
$4,00,000
Development Planning
Fees:
$45,000
Monthly Council Rates: $4,000
5. Duplex Information
Duplex Estimated Value: $8,00,000
Monthly Rental Income: $60,000
Monthly Agent Fees: $5,500
Monthly Landlord
Insurance:
$6,500
6. Project Results
Equity Value =$100,000 Duplex Value of
$800000
le
ss
Total Outgoings of
$750500
equals
$49500
Net Monthly Rental Gross Monthly Rent of le Holding Costs of equals

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Income = 70,000 $60000 ss $16000 $44000
3. Constraints and goals
3.1 Constraints
The project constraints that can limit the progress of the duplex residency development
in 126, Friargate, Preston, Australia are mainly illustrated below:
Time: The duplex construction must get completed in 9 months’ time period otherwise
the project schedule gets slipped and as a result delay will occur which further can create a lot of
obstruction in accomplishing the project objectives.
Budget: The project manager allocated around $800,000 as cash reserve for the project
and if the project managers and contractors are unable to finish the work of the project then a
number of financial issues as well as challenges can mainly occur with the project.
Scope: The project manager must use the scope while progressing with the project and if
the scope is not used then will be unable to accomplish the goals as well as deliverables that
further creates challenges.
3.2 Goals
The project goal is to create both the timeline as well as feasibility report for the
residential duplex construction. It is identified that both the timeline and the feasibility reports
are quired for successfully analyzing the project success.

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4. Macro environment business drivers
Macro environment is mainly referred as the assortment of various types of factors which
are mainly needed for successfully creating an effective impact on the entire business that
remains beyond the organization ‘s power (Barkauskas, Barkauskienė and Jasinskas 2015). The
various macro drivers of the business that assists in driving the business successfully are
illustrated below:
Economic: There are a number of economic factors which are mainly found to be
beneficial in effectively driving the entire spending and the purchasing power of the entire
organization. Furthermore, it is identified that the money which is generally get as rent can be
considered as income and it is quite high than the money that is spend on the work of the project
Resources: Proper identification of resources within the project is found to be very much
beneficial for the entire business (Blanco and Cohen 2017). Therefore, proper resource selection
in the project is done for successfully driving the entire business and for effectively increasing
credibility as well as interaction level among the customers
Competitive: As the population of Preston is around 10,000 and as a result it is very
much necessary to provide unique facilities or services to the customers such that the customers
of the organization will get attracted to the business (Mertens et al. 2015). As a result, the
organization can be able to compete with other organization of same type and can be able to
achieve financial benefits from the entire project.
Demographic: It is identified that there are a lot of demographic factors that are linked
with the various drivers of the business that further helps in creating proper positive affect on
business of the organization (Barkauskas, Barkauskienė and Jasinskas 2015). Moreover, the

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demographic based factors are mainly beneficial in giving proper prospects to the entire
business. It is analyzed that the area of Preston is quite large and thus it is found that the duplex
business can get affected due to the help of these types of forces.
5. Micro environment business drivers
It is stated by Anggadwita and Dhewanto (2016) that the microenvironment business
related drivers mainly comprises of a number of factors that are helpful in making proper
decision and assists in getting effective performance within the business of the organization.
Moreover, it is identified that the entire analysis is mainly done in such a way that the decision
that is taken is helpful in achieving success within the entire organization. The various micro-
environment related factors which are helpful in achieving success within the business are
illustrated below:
Time related pressure: For successfully managing the project, time management is of
outmost importance. If the staffs of the organization can be capable of handling the time pressure
quite effectively then they can be capable of driving the entire business effectively for achieving
success (Maksimov et al. 2017). Therefore, it is quite necessary for the staffs of the organization
to be capable of managing the time.
Technical perspective: Different types of technical knowledge and skills of various
staffs which are considered significant for successfully driving the success of the project
effectively. This is due to the fact that most of the employees can be able to properly manage the
entire risks which are linked with the entire work such that within the failure chances within the
entire business generally get reduced.

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Other important consideration: It is found that the most important part of the entire
business is to attract customers for enhancing the yearly revenue of the organization(Lancaster
and Massingham 2017). It is very much important for the entire business to adopt different of
marketing-based strategies within the business such that they can be able to achieve success.
6. Conclusion
It is identified that both time and feasibility report which is mainly developed is found to
be helpful in effectively analyzing the time and budget which is required for finishing the project
on time and for analyzing whether the project get finished on time or not. Furthermore, it can be
analyzed that the entire work of development will get completed within 9 months by utilizing
budget of around 800,000. In addition to this, the paper undertakes both macro and micro
analysis in order to know various types of factors which further helps in properly helps in
achieving success within the business. Furthermore, it is identified that the both micro as well as
macro environment analysis which is generally done for successfully developing the duplex
residency that further helps in taking proper or important decision that is further helpful in
achieving success within the entire organization.

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Bibliography
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