Commercial real estate development projects are notoriously complex. They have several steps and processes that must be followed in a specific order to achieve desired outcomes.

At Aedifico Development, we take a programmatic and strategic approach. Here's an example of a step-by-step outline and guide that our team would follow to organize your commercial real estate development project:

Project Initiation:
- Define project objectives and success criteria.
- Identify key stakeholders, including investors, developers, contractors, and regulatory authorities.
- Develop a project charter outlining the scope, objectives, stakeholders, and high-level requirements.
Project Planning:
- Conduct a feasibility study to assess the project's viability, including market analysis, financial projections, and risk assessment.
- Develop a comprehensive project management plan that includes scope management, schedule management, cost management, quality management, risk management, and communication management.
- Create a work breakdown structure (WBS) to break the project into manageable tasks and subtasks.
- Develop a project schedule using techniques like the critical path method (CPM) and determine resource requirements.
- Estimate project costs and create a budget, considering construction costs, permits, legal fees, financing costs, and contingency reserves.
- Identify project risks, assess their impact and probability, and develop risk response strategies.
- Establish a communication plan to ensure effective communication among project team members, stakeholders, and contractors.
- Develop procurement strategies for acquiring necessary resources, such as land, materials, and professional services.
Project Execution:
- Acquire the required resources, including land acquisition, permits, financing, and contracts with contractors and suppliers.
- Establish a project team, define roles and responsibilities, and ensure clear communication channels.
- Monitor project progress, manage changes, and resolve issues that may arise during the construction phase.
- Implement quality assurance processes to ensure compliance with project specifications and standards.
- Conduct regular project meetings to provide updates, address issues, and track progress against the project plan.
- Manage stakeholder expectations and ensure timely communication with investors, regulators, and other stakeholders.
- Ensure adherence to safety regulations and standards throughout the construction process.
Project Monitoring and Control:
- Monitor project performance against the established baseline, including schedule, cost, quality, and scope.
- Track and analyze project metrics, such as earned value, to assess project progress and forecast future performance.
- Implement change control processes to manage scope changes, schedule adjustments, and cost variances.
- Conduct regular quality control inspections and ensure that project deliverables meet quality standards.
- Address and mitigate project risks as they arise, following the risk response strategies defined in the risk management plan.
- Maintain accurate and up-to-date project documentation, including contracts, permits, change orders, and progress reports.
Project Closure:
- Conduct a final inspection to ensure all project requirements have been met.
- Obtain necessary approvals and certifications from relevant authorities.
- Complete all contractual obligations, including final payments and closeout of contracts.
- Conduct a project review and document lessons learned for future reference and improvement.
- Archive project documentation and records for future reference.
- Celebrate project success and recognize the contributions of the project team and stakeholders.

It's essential to apply the principles of effective project communication, stakeholder engagement, risk management, and quality control throughout the project lifecycle to ensure the successful completion of the commercial real estate development project.

Please note that this outline provides a general framework, and the specific steps and requirements may vary depending on the commercial real estate development project's size, complexity, and location. Adapting and tailoring the approach to meet the project's unique needs is essential.

Please get in touch with us directly for a free project consultation to see how Aedifico Development can best address your unique development needs.