Property Development Planning - 5 Levels of Risk Management
Risk management planning is a key to successful property development. Risk Management, the science of analyzing the risk areas as they have the greatest impact allows property investors assign resources appropriately and/or assess feasibility of property development projects. A clear understanding of the development process and the ability to quantify risk areas will provide investors with the competitive advantage they need to emerge from the pack in the new economy. Listed below is an outline of the levels of risk management due diligence key to property development and property planning. Level 1: Impacts Assessment 1.1 Industry Standards Assessment Analytical assessment enables property owners to compare existing facilities with business and industry standards. The evaluation of industry standards can be used as a baseline for planning physical building projects. 1.2 Socioeconomic Impacts Assessment Analytical assessment enables property owners to determine status of socioeconomic ...