Advanced Development Practices (Dev2)

During this session, we’ll focus on developing the strong leadership skills that are vital to the success of a development of a property. We will discuss how to build a comprehensive high-performance development team and to deliver a successful project. We’ll also address how to apply negotiation strategies to practical applications of real estate and to manage risk. We will also discuss the importance of strategic marketing and how to integrate it into the development plan. Students will develop a working knowledge of the construction management process, the tools and techniques utilized and learn the importance of leadership in project management. We'll also explore the relationship between scope, schedule and resources for managing the tenant improvement process and exceeding the customer's needs. Finally, students will learn to identify property management and leasing agents' roles and contribution to the overall development process.

In this session, students will learn to perform a national, regional and local economic analysis to determine the state of the market, economic base, availability of resources and the availability of supply and demand. We'll present the critical components included in a market feasibility analysis and the overall impact to the viability and success of a project. Students will develop analytical assessment skills that include how to conduct investigative research to develop a market feasibility study. They'll develop a stronger understanding of the economic drivers for a local analysis and the impact of the results to the success or potential risks to the project. Finally, we'll learn to identify local economic drivers for demand analysis by asset class and competing supply.

During this session, students will learn to recognize and define negotiation situations and explore individual negotiation styles. We will emphasize the importance of having a negation plan, identifying alternatives and demonstrate how to use strategies and tactics to obtain desired results. We'll also address how to apply negotiation strategies to practice applications of real estate and to manage risks. Finally, we'll address managing risk with the use of proven techniques and methodologies.

This session will emphasize the importance of strategic marketing and provide a basic outline for a marketing plan. Students will learn to develop an appropriate business mission statement, identify the criteria for stating good marketing objectives, explain the components of a situation analysis and identify sources of competitive advantage. We'll discuss how to identify strategic alternatives and describe tools used to help select alternatives along with exploring various target market strategies. Students will become familiar with elements of the marketing mix and will be able to explain why implementation, evaluation and control of the marketing plan are necessary.

During the beginning of this session, we'll review Case One and listen to group presentations. The second half of the session will be dedicated to construction management. We'll identify the role and responsibilities of a construction manager and define the aspects of the project life cycle. Students will gain an understanding of the management processes involved in a construction project and learn to analyze common construction management problems. This session will provide students with a thorough working knowledge of construction management tools and techniques.

This session will focus on the importance of leadership in project management. Students will become familiar with the relationship between scope, schedule and resources and how to successfully build a team, communicate and provide feedback. We'll illustrate the benefits of sustainable design and LEED, while examining the basic components of budgets and how to avoid cost over runs. Finally, we will define elements of a "green lease" and discuss current tenant improvement demands.

Students will gain an understanding of property management, portfolio manager and agents' roles and contribution to the development process in addition to learning how value is derived and preserved. We'll discuss how to maximize investment objectives and how to enhance performance of assets through green and sustainability measures.

Facilitator for this Lesson:

Joan Woodard

President & CEO

Simons & Woodard Inc

Santa Rosa, Calif.

Subject Area: Essentials of the Development Process, Advanced Development Practices, Leasing Marketing and Negotiation, Site Feasibility and Financial Analysis of Development Projects

Joan Woodard has more than 35 years in the commercial real estate development and management business. She is currently the president and CEO of Simons & Woodard, Inc. in Santa Rosa, Calif. Ms. Woodard is responsible for overseeing architecture, marketing, leasing, property and financial management. Ms. Woodard began her career in real estate as a financial analyst and project manager in Atlanta with John Portman. She worked on architectural and development projects all over the world. In 1985, she joined Walt Disney on the West Coast as vice president for Disney Development, where she developed short and long-term plans for the company's use of real assets, among which was the planning process that resulted in Disney's corporate headquarters in Burbank and Disney's California Adventure in Anaheim.

In this final session, we'll distribute the second case and identify learning outcomes and review and discuss the assigned case.