Project Management and Retail Development

I found the presentation that Jessica gave to the class very interesting. Beforehand the class was given an optional extra credit assignment that highlighted an actual project Jessica and her Stiles team worked on. I am glad I completed this assignment because it got my mind accustomed to how I would approach a project and the costs incurred. The numbers I came up with using the Front Door Back Door Analysis were not far off from what Jessica said the actual number were. During her presentation she talked about three major components to any development project. The first was Real Estate Investment Services. This division is responsible for looking for the site and putting it under contract. Second was Development where Project Managers work with consultants like architects, lawyers, and contractors. The third division is Assets Management where owners ensure the asset is fully operating. Next she spoke about the development services timeline used for this project.  The first step was due diligence followed by site planning, platting, site plan approval, leasing, closing, construction bidding, permitting, construction administration, certificate of occupancy, and transition to asset and property management.  Jessica going into detail on each phase and sharing some of her challenges was very helpful. Also, the timeline structure she used in her presentation personally helped me construct my individual Project Pro assignment.

After the class site visits I had the pleasure of talking with Jessica at the mixer. She gave me a greater understanding of her role as project manager. Interesting enough, through talking I found out we have the same background in Marketing and Real Estate. She spoke about her experiences in the program and what some of the factors were that lead her down the path of project manager. Like Jessica, I feel that project management is the next gradual step in my development career after I complete the program. I found my conversation with Jessica to be very informative. I look forward to keeping in touch with her and building a professional relationship.