My Development Manifesto

MY DEVELOPMENT MANIFESTO

When Houston experienced its initial oil boom at the early 20^th century, it was the matrons of the wealthy oil families that were instrumental in bringing art and design to consideration of value in booming Houston.  Ima Hogg, the never married daughter of one of the Governors of Texas, was one of the most well-known to encourage art and culture in early Houston.  She was a generous and prime donor to the arts, including the Houston Museum of Fine Arts .  She and other female socialites with appreciation for the finer things in life brought a bit of civility to the developing Houston that otherwise may have been oblivious to the benefit of the introduction of culture.  Houston can look back in appreciation for the efforts of Ima and others who catalyzed the Houston arts scene.

 In the market economy wherein we thrive today, promoting creativity is as important as ever.  It is still considerations for the virtues such as art, culture, and design that add a bit of interest and charm to the otherwise purely engineer-centric structures around us.  Good design creates more attractive communities and adds quality of life.   Unfortunately “function” and “status quo” seem to often be the standard of residential and suburban design and structure.  It was noted on NPR that Houston still lags far behind most, if not all cities when ranked on quality of life.  Noted Rice University sociologist Stephen Kleinburg said: “This city has no prayer of making it as a major city in the 21st century economy if it is perceived by people outside Houston to be not only flat and hot for much of the year but also ugly and dangerously polluted. Forget it. And the business community knows that. We all know that.” (http://app1.kuhf.org/articles/1364465621-Rice-Sociologist-Improving-Quality-Of-Life-Crucial-For-Houstons-Economic-Future.html )   Mr. Kleinburg goes on to talk about how one of the recent upgrades to the city in the effort to transform our solely functional concrete bayous into “linear parks” is an effort in the right direction.  This specific re-development has a price tag of nearly $250 million dollars, and one cannot help but wonder why the option for a dual use was not even considered when the initial plan was in development. How much money could have been saved without the cost and effort to change something from functional to beautiful and functional?  Despite this seemingly easy lesson to learn, we seem to repeat ourselves in the design of too many elements of our communities where adding aesthetic and charm is at best an afterthought, if taken into consideration at all.  

Ultimately much that is interesting or beautiful is not considered to be justified by “the bottom line” by those who run the markets, and thereby not included. In my opinion, the greater Houston market has become conditioned and satisfied with aesthetic mediocrity.  From a seller’s perspective, if the demand is satisfied with pure functionality, why add anything more?  Give the minimum required but not an iota more… Now that is probably a bit of an exaggeration, but not much.  Just as noted by Mr. Kleinburg, there is an obvious deficit in the aesthetic of Houston, especially when compared to other cites. 

 Here is the solution  We to tap into power, persuasion and social force of the members of our community who more resemble the persona of Ima Hogg.  Members of our society who have an appreciation of quality design, artistic communication, and intrinsic beauty. Members who have the social weight as well lead the effort to adjust the dialogue.   Members who recognize that good design has value, and will provide a strong return on investment.  And note that many, perhaps most, though not all, of the members of this social force are women.

As I have worked on the business plan for thoughtful design centered development, I have hit many roadblocks from lenders, investors and banks.  What is most interesting are some of the side comments that are made during the conversation.   The roadblocks are often paired with some type of offhand comment about building with the effort to creating “standard proven tract home communities”, or working with a “large production home builder” as the direction I inevitably must be aiming for if I want to be successful in this endeavor.  This assumption to me is humorous as if this is the only track to success because it’s simply following the track that everyone always takes…  That’s kind of the exact opposite I am going for and I will never be able to explain this to someone who cannot look outside the proverbial box of “if its not broke, don’t fix it.” 

This approach is understandable, but it is also unfortunate.  Consider the following as a comparison While we are on the brink of amazing technological breakthroughs in electronics, communication, and transportation, the product of “neighborhood” and “community” has evolved into a “fast food joint” type of business.  Our homes, which our typically our most expensive purchase, can be compared to a processed assembly line production. Even many of the expensive tract home builders, are still production builders—perhaps more of a “Olive Garden” than an McDonalds, but nonetheless not a home that is made to reflect the people who live inside.  These places are consistent, functional, and not bad, but not memorable, nostalgic or timeless.  Ultimately we are missing opportunities for innovation and the creation of tomorrows classics today.

In complete disclosure, let me clarify what I propose as an alternative.  I am going to respectfully copy someone elses ideas.  Multiple ideas from various other developers and designers.  That may sound hypocritical considering the previous rant, but we do not have to reinvent the wheel here. Many other communities are great at designing attractive neighborhoods with a timeless quality.  And many of these developers innovate some modern considerations on some already proven timeless designs. I propose that good ideas, proven from other developments and endeavors, incorporated locally with local flavors, artists, and implementations will sell, excel, and become an iconic destination representing the greater community stand equal or above any surrounding development. Slight modification and evolution on a proven idea is my formula for success in this endeavor.  A bit of review will find that most if not all of my proposed implementations can be seen successfully implemented in established designer communities. The home designs will reflect considerations proven in Seabrook WA, the Florida Panhandle, and even the Houston Heights.  The sustainability efforts will reflect efforts already proven in Las Vegas NV and Portland OR.  The community activities focused around an agrarian element will mirror that which is seen in Serenbe GA and Prairie Crossing IL.  The combined harmonies of proven community implementations will create a iconic community that will be not only completely unexpected for the Houston Metroplex, but ultimately revered and praised…Just as were the originally undervalued efforts of Ima Hogg.

This proposal will take work, dedicated oversight, and strong values in the face of many who will not get the vision and question the validity of the effort.  My team needs to not only have the vision, but own it.  They need to believe it in the effort and act in their role as if the success of the entire project hinges on their individual action.  This will be an effort that will be exciting, fulfilling, attention grabbing, community changing, and financially lucrative. It will succeed because we will meticulously plan, tirelessly execute, and generously compensate.  It is going to change everything.

Barnwood- agrarian urbanism neighborhood concept for Cypress

 

d e s i g n e r    a r c h i t e c t u r e.        

   s u s t a i n a b l e    l a n d s c a p e s.     

a m e n i t y   a d j a c e n t.

a n  a g r a r i a n – u r b a n   c u s t o m   h o m e  

  c o m m u n i t y    i n   C y p r e s s ,   T X

Business Plan and Pro Forma

Development Executive Summary

Barnwood is an innovative development project designated for a 40 acre parcel in the growth corridor of Cypress Texas.  The Cypress area is surrounded by thriving economic growth and development, and Barnwood will be an iconic neighborhood that will fill the niche and gap in the local market for a custom home community that has lots ranging from ¼ acre up to 1 acre + custom and spec home sites.  The parcel is adjacent to a developing community with roads directly accessing the site. One access is off Mueschke Road, and one on the Northwest side of the Cypress Landing Development.  The parcel is for sale at a listed price that supports a healthy return, but further negotiation in price is likely.  The surrounding Municipal Utility District can support additional development, and the MUD reimburses development expense when the system is tapped—increasing ROI for investors.  The site is within 2 miles of Highway 290, and 3 miles of surrounding retail and commercial districts including a thriving outlet mall, various restaurants and grocery stores. It is outside the flood plain and is unrestricted for development

 Although there are limited offerings in the area for a custom home community, There are specific design and marketing elements that will be used in defining the Barnwood  community :

1.       Custom homes will follow a deed restrictions but be encouraged in a design that implements the considerations defined by such architects and artists such as Sarah Susanka (author of The Not So Big House series.) Simple designs in classic bungalow, farmhouse, and cottage architecture will be the norm with thoughtful design implemented in all living spaces- indoors and out.

2.      Agrarian-urbanism (AU) will generally follow the precepts developed by Andrew Duany and his planning firm Duany Plater-Zyberk. This is the design of communities with a focus on an agricultural element- specifically in gardening and fresh food production.  These elements include private and community gardens, mulch and compost areas, farmers markets, and other agricultural considerations.

 The inclusion of these designer considerations adds dimension to the community, helping it stand out from other residential communities whether they be tract, acreage, or custom home.  The marketing plan will heavily draw on this angle marketing towards those who are looking for a community that appreciates an agriculture element, nostalgic architecture, but wants to be in the best schools and close to amenities.  Various communities such as the Pinehills near Plymouth and Serenbe outside Atlanta have done extremely well within this concept

             

                                                                

The project is designed to provide short term return on investment for stakeholders.  Initial lot prices will be at or below market rates, but will be adjusted with demand Revenue is produced in 5 ways:

1.      Residential custom lot sales.  The Cypress area has limited lots available this close to the center of town for custom/non tract development, and none with a farmhouse/craftsman design angle.  We anticipate a strong demand.

2.      Residential custom spec home sales. Charming designer homes with custom features are not currently available in the greater Cypress area except for the highest end markets.  Various pre-screened builders will be invited to build custom spec/show homes in multiple square footage sizes in preparation for lot sales and demand for custom homes.

3.      Development company home sales. The M Charlie Lucas design company will act in capacity as builder as well as developer in building spec and custom homes on a limited number of lots providing revenue and definition to the community.

4.      Revenue return on development expenses associated with acceptance of certain properties into the MUD district.  Expenses specifically associated with water lines, sewer lines, treatment center expansion, and water detention are reimbursable to the developer

5.      POA/HOA fees. Management fees paid for community maintenance by homeowners on a yearly basis.

Various funding options are being researched and considered. The opportunity has been preliminarily offered an option for funding by Chasewood Bank in Houston.  The parameters for a $2,000,000 loan include a 20% down position by a partner or group of partners with a liquid net worth equal to the total loan amount.  This initial $400,000 investment will return the original investment and 50% of net profits.  The preliminary profit/loss measurements put this amount in the vicinity of $3 million split between partners- the investors and the developer.

Project Charter

Barnwood- a master designed residential use real estate development in Cypress, TX

Barnwood is an 87 lot residential use community concept design based on principles of Agrarian Urbanism (AU) and a pursuit of natural simplicity.  The proposed development is laid out within a 43 acre parcel in Cypress TX. The community is adjacent to Mueschke Road, 1 mile from highway 290.  The community is laid out with 37 ¼ acre lots, 34 lots ranging from ¼-1 acre, and 14 lots that are 1 acre or larger.  The idea is to provide a canvas for builders as well as homeowners to truly have the freedom to create a custom residence that truly reflects who they are and how they live. Although there will be very specific guidelines and restrictions, there will be greater architectural freedom and many more options than the typical tract home community

The design of this entirely custom home community is appropriately defined as to meet the community theme: “Designer architecture. Sustainable landscapes. Amenity adjacent.”  The entire neighborhood is designed to reflect deliberate attention to classic detail in whatever style of home is built.  There is a market for lots, custom homes, and custom spec homes, and Barnwood will provide opportunity within all three markets, in multiple property sizes The properties are sized to fit exactly what the homeowner wants—nothing more, nothing less.   No “one size fits all” mentality.  We will be sustainable in considerations in building as well as land use in promoting community and private gardens, and appropriate agriculture opportunities in the larger lots.  As for amenities, the properties are within 1.5 miles of the freeway, and 2 miles to shopping, restaurants, and other amenities.  The neighborhood is very close to everything, yet feels miles away as it is surrounded locally by gardens, meadows, and residential development

Some of the local community accents will include:

-Community Gardens                        

- Detention park feature with outdoor spaces for community gatherings, sporting activities, movie nights and other activities.              

-historic street lighting designs.

-Cohesive design elements in all structures that unify the space.

-Most lots will have rear entry garages that allow the home, porch and landscaping to take center stage rather than the large garage door.

- Homes may include multiple living areas** (see below for further definition.)

-White picket fences. 

-Sidewalks that lead to paths that circumnavigate entire community.

-Colorful and complimentary home colors and styles.

-Low maintenance but well-appointed colorful landscapes and gardens.  

-Nature focused design enable homes to face a neighborhood common park area for neighborhood interaction.

-Tire lane driveways.  

** Multiple living areas refers to a design concept that is relatively novel in the greater Houston area.  It replaces the idea of the McMansion or sprawling home with a more creative and thoughtful use of the space on a home lot.  Championed by architects and designers such as Sarah Susanka and books such as The Not So Big House and The Simple Home, the entire use of the space is re-envisioned with certain parameters taken into consideration.

 The parameters include  the option of creating 2-3 living spaces on a lot, rather than 1 large structure that contains multiple rooms that are rarely used by the average family.  For example: instead of a looming 4000+ sq/ft house on a standard lot,  consider an architecturally charming 2200 sq/foot  bungalow (living space 1) on the same lot,  with attention given to exterior outdoor living, garden and porch spaces front and back.  In addition to this home is a stylish studio space above the garage (living space 2) that can serve as an attractive yet private alternative for visiting guests or returning children.  And ultimately, a petite yet charming pool or garden side cabana (living space 3) can be another space available for entertaining, visiting parents, or as a children’s getaway.  These additional spaces can be closed off to additional utility expenses when not in use, but fully functional as a living space with functional kitchen and bath space included.  These spaces create a fantastic amenity when additional space is required. 

The Community

The neighborhood is designed to encourage a lifestyle that encompasses healthy living with expansive foot paths.  It encourages sustainability as meeting the expectation of AU by being a walkable, garden oriented development with most of ones daily destinations within a drive of a few minutes.  Gardening and outdoor living are encouraged to take full advantage of the included real estate. Where there are not productive gardens, the natural and unrefined growth of wildflowers will be cultured and encouraged as an alternative to the standard grass green space that requires endless watering and maintenance.  Ultimately the community is designed to be the simple and classic neighborhood of yesterday where neighbors can truly get to know neighbors as they socialize in the parks, gardens, and walking spaces within the community.

The Cy-fair area is poised to continue as one of the top growth corridors in the Houston area over the next few years. With easy access to all points in Houston, and Houston well established as the United States energy capital- in addition to its status as a main shipping port, there is little doubt that the need for area housing will continue to rise.

An interesting condition worth noting is that although Houston is well established in many sectors, there is a definitive gap in sustainable housing efforts and design centered developments.  To meet this niche of the market, we are replacing the “tract-home” business model in real-estate development, and focusing on a designer neighborhood with designer spec and pre-sold custom homes, that still meet middle class home price objectives. This project combines designer architecture and sustainable development all in the pathway of the expanding Houston Metroplex.

Project Management

            The Project Manager will be authorized to select team members and negotiate and justify final budgets.  The majority of the development work will be contracted out with specific scope(s) of work (SOW) up for bid and contract.  Spec and custom housing will be provided by a prescreened group of custom builders.

Business Case

The highest priority of the endeavor is to provide a healthy return for the investment stakeholders.  Revenue objectives include short term income streams with the entire project estimated to be sold out in 5 years.

  The ultimate purpose of the project is to create a community that caters to the established surrounding population and taps into the anticipated growth to the area. The reasonable expense associated with land acquisition, combined with the established area market as a growth corridor minimizes risk.  The additional feature of offering lots available for residents to build their dream home with a builder of their choice is a relatively untapped market angle, but is a strong market segment at higher price point homes in similar market demographics and can also offer aggressive potential returns.

Residential Land and Home Sales:

The 40 acres of the parcel will be dedicated to developing 87 residential lots, 12 of which will be completely built out by the developer as spec cottage and custom residences.  The remainders are variously sized custom home parcels ranging in size between ¼ acre to over an acre which will be built out or sold as lots as the market dictates.            

Land Use:

The estimates of pricing and costs are based upon an analogous model of recent area development and contractor pricing.  The initial proposed breakdown of land use is as follows:

Cottage lots ¼ acre district                                                                                                                           37 +/-11,000 sq ft lots                                                                        =    7 Acres

Expansive lots custom district:   ¼ acre – ¾  acre lots                                                                      34 lots                                                                                                                    =     11 Acres

14 Acreage lots   (1+ acres)                                                                                  =     16 Acres

Roads, on street parking,                                                                                                neighborhood entry points                                                                                 =     3 Acres

Green space, wildflower gardens,                                                                                     community gardens, detention                                                                        =        3 Acres

Total:                                                                            40 Acres

Financial Assumptions

The estimated income stream for the project is based on the following assumptions:

1.       Included in the project is the construction of 10 spec/model homes averaging 2200 sq. ft., $85 sq. ft. sale price, and producing a base $25sq. ft. return. 

2.       The 27 ¼ acre custom home lots are sold at an average value of $4 per square foot (10,887 sq/ft,  $43,550) 

3.       The 34 ¼- ¾ custom home lots are sold at an average value of $3.25 per square foot ( 24,000 sq/ ft, $78,000)

4.       The 14 single acre lots are sold at an average value of $2.20 per square foot (43,560 sq/ft,  $95,000 per acre)

This income production is broken down below.  More detailed financials  are found at the end of the pro forma.

 Reimbursement from utility district                                                                            infrastructure upon sale of properties                                                  =             $270,000  

Reimbursement of revolving loan for                                                                                          spec home construction                                                                      =             $650,000

Heights district-                                                                                                                                   10 homes x 2200sq/ft x $25 sq/ft                                                         =              $550,000

27 Custom ¼ acre home lots -                                                                                                    $43,550 x 27 lots                                                                                    =           $1,175,850

34 Custom ¼ - ½ acre home lots -                                                                                             $78,000 x 34 lots                                                                                    =           $2,652,000      

14 Custom single acre home lots -                                                                                            $95,000 x 14 lots                                                                                    =           $1,330,000

 Total lots-   85  

Total revenue-                                                                                      =           $6,627,850

Expenses:

Direct Costs

Land Acquisition (est.) @$1.25 sq.ft.                                                          =        $1,355,000

Road/sidewalk construction:                                                                                                         2500 linear ft x 28’ = 70,000sq/ft @$4.75 sq ft                                           =         $332,125

Infrastructure:  Water, Sewer, Electrical, U-verse  2500 l/f @ $80                                  (Assuming tap in to local  established utility districts)                             =        $200,000*

Engineering, Surveys, Permitting, dirt work and Plat--                                                           ($4800 x 30 developed acres )                                                                           =    $144,000   

Cottage home construction-Revolving $650,000                                                                             to build 3 houses at a time.                                                               =       $650,000*

Streetlights, community gardens                                                                                                    and entry monuments                                                                             =      $ 200,000     

Total Direct Costs                                                                                            =     $2,881,125            

Indirect costs:   

 2 years P,I, T, I on revolving $1.85M loan                                              =       $360,024                  

 Marketing budget                                                                                       =        $50,000

Project Team member salaries/commissions                                                                                     2 years @$150,000 per year                                                                          =      $300,000

2 year Adminstrative, office equipment and rents                                  =       $30,000

Total Indirect Costs                                                                             =    $ 740,624

Estimated project capital expense-                                                                                     $2,881,125 + $740,624                                                                          =          $3,621,749

Gross income                                                                                              =     $3,006,101

The targeted advantage is not only a strong revenue stream, but also the intrinsic benefit of association with a project that is unique yet universally appealing, forward thinking yet classic.  This is a project that will ultimately garner appropriate publicity and its success will develop reputation for those that were initial backers and key stakeholders of the project.  It will be a highpoint on a resume, investment portfolio, or brokerage history to have been associated with this project.

*These expenses required for development will ultimately be returned upon sale of last house

Additional Project Considerations

The current sales market for custom homes and property is limited and strong.  Projected sales figures start below market rate.  If sales still do not meet expectations, options for lot liquidation are available including discounting to a tract builder or fire sale discounting are acceptable, and would still anticipate a positive profit.

This proposal assumes a financially strong and liquid partner to enable favorable loan terms related to down payment and interest rate.  If the partner prefers to assume loan and interest payments for the property and development, this is also a reasonable option that while assuming more risk due to up front capital investment also maintains all the reward with minimal capital dispersed to additional lenders or brokers.

Strengths, Weaknesses, Opportunities, Threats

Strengths- Huge ROI potential, Great location, area growth, area socio-economic population, Houston metroplex expansion, school district, TIRZ availability, large investor pool, inexpensive capital, potential city and county support and participation, following a nationally proven trend, project profitable with pricing at or below area real estate values, locally accessible workforce, and experience in development, negotiation, and design. Virtually no surrounding neighborhoods in decline or poverty, strong consumer market, Development experience, project management certification and experience, relationships with HGAC and GHBA.

Weaknesses- No firm contract on property, no firm investors, no committed buyers, no confirmed lender partners, much larger project than previously embarked on, subject to ultimate utility district tie in expenses.

Opportunities- higher than expected increase of property value, artistic colony reputation opportunity, free publicity through media outlets, develop reputation as forward thinking developer, gain trust with lending outlets

Threats- NIMBYism, unrealistic pricing or inflation on land, contractors, suppliers. Market fluctuations, deep pocketed competitors, traffic congestion, lawsuits, noise pollution, land bought out by speculators, unforeseen conflict with adjacent MUD or neighborhood.

Conclusion

The final result being sought is the completion of a community that meets the needs of the surrounding area, comes within planned budgets and develops according to the planned schedules. The specific directives of the development including identifying the ultimate deliverables are spelled out below:

1.         Measurable Project Objectives by Phase

The project objectives and systems of measurement are as follows:

Phase 1- Due diligence, prime partner commitment, project feasibility completed, and network development

Objective 1--Actively network and negotiate partnerships and contracts for the use of the land with the major stakeholders and builders.

Deemed successful when all potential stakeholders have been contacted with clear direction of expectations if involved in project.

Objective 2—Secure and finalize contracts with stakeholders. Ensure expectations are realistic with overall project objectives

Deemed successful when sufficient stakeholders have signed on to move forward with project.

Phase 2- Initiation

Objective 3 – Initiate development as defined in Project Charter and Work Breakdown Structure and WBS Dictionary.

Deemed successful as milestones are met in WBS.

Management Strategy

            The project will be generally managed by PMI principles and standards.  The project team is yet to be determined.

The project management team will be on the site throughout the entire process.  The entire team will be updated monthly and be well versed in what is expected to occur within the project over the short term. The construction manager will maintain presence and typically be the single point of contact for all subcontractor representation.  The lead designer also playing the role as well as lead project manager will ensure that nothing slips through the cracks as the details and nuances of the project are implemented.   The management strategy requires a clear Scope of Work defining the expectations of the contracted agent, with a payment schedule and rates clearly defined.  These will be contractually binding, and ensure adherence to all the expectations put forth. 

Economic and area growth data and trends

1--The Greater Cypress absorption rate for commercial space.

The Greater Cypress absorption rate for new residential space .

The 77429 Zip Code is one of the most affluent zip codes in Harris County; nearly 77% of the population has an income over US $50,000 and 42.65% earning over $100,000.^[6] The Cypress urban cluster ranks 50th in the top 100 highest-income urban areas in the United States.

(http://en.wikipedia.org/wiki/Cypress,_Texas)

2--The following is a report from a local real estate blog that includes a chart indicating a steady demand of homes in the premier development of the Cypress area.

“What a month of home sales in Bridgeland!  Bridgeland sold more homes this past month than any other previous month.”

Bridgeland Real Estate Market Report

(The data was compiled using the Houston Association of Realtors (HAR) Multiple Listing Service. (MLS.)  Please look at the chart above that I compile each month.  You can see the monthly home sales in Bridgeland.  When you compare this year’s home sales to last year’s home sales, you can see an almost 200% increase in home sales.  Bridgeland is developing faster than anticipated.

(http://giraffere.com/blog/holy-moly-bridgeland-is-selling-homes-like-crazy/)

3--According to NPR:       “…a report by the Brookings Institution finds Houston is now one of the world's fastest growing metro economies…                                                                             The Global MetroMonitor tracks economic growth in the world's 200 largest metro areas, both in terms of employment and per capita income. For 2011, Houston came in at number 19. The only other U.S. city to crack the top forty was Dallas at 36.”

http://app1.kuhf.org/articles/1326844369-Houston-Ranked-Worlds-19th-Fastest-Growing-Metro-Area.html

Project management plan outline

I. Initiating Process

                              1.            Project charter

                              2.            Identify Stakeholders

                              3.            Business Justification

                              4.            Project management Plan

                              5.            Collect requirements

     II.            Planning Process

                              1.            Define and document Stakeholder needs to meet Project objectives

                              2.            Define Scope

                              3.            Define description of Project and Product

                              4.            Create Work Breakdown Structure (WBS)

1.      Subdivide deliverables and work into smaller, manageable components

2. Define Activities

3.      Identify specific actions to be performed to produce project deliverables

1.      Sequence Activities

2.      Estimate resources for each activity

3.      Estimate durations—Time

4.      Create Schedule

5.      Estimate Costs

6.      Determine budget

                              1.            Plan Quality

                              2.            Determine level of finish and Product compliance

     II.            Monitor and Control

                              1.            Human resources skills and Staffing

                              2.            Risk and Risk management activities

1. Quantitative risk

2. Qualitative risk

3. Risk/opportunity responses

4. Contingency fund

c. Procurement Activities

2.      Executing Process

1.      Perform work to achieve objective

2.      Quality control/Assurance

3.      Project team development and management

4.      Information distribution

5.      Manage stakeholder expectations

6.      Conduct Procurement

7.      Monitor and control Project work

                                                        i.            Progress reporting and measurement in regard to scope, schedule cost resources, quality and risk.

8.      Integrated Change control

                                                        i.            Review and approval of changes to original scope

9.      Control and Verify Scope

                                                        i.            Ensuring deliverables are acceptable in regard to original scope

10.  Control Costs and Schedule

3.   Closing Process

1.   Finalize all activities across all management process groups

2.   Close Procurement

3.   Closing Meeting