Application of Product Development Processes in the Early Phases of Real Estate Development: A Feasibility Study

Christian Kron1

1Dipl.-Wirt.-Ing., Research Assistant, Institute of Construction Management, University of Stuttgart, Pfaffenwaldring 7, 70569 Stuttgart, Germany, +49 (0)711 685 66159, christian.kron@ibl.uni-stuttgart.de

Abstract

The standardization of processes in the construction and real estate industry is one of the basic requirements for a secure implementation of lean principles in practice. An important element for real estate development is to realize building projects efficiently and successfully. Among other things the task of a project developer is to organize, coordinate and control the interdisciplinary collaboration between internal and external stakeholders. The project developer has in consequence a special role by crosslinking the functional value chain processes in the real estate project. This paper aims to provide an outline of a general approach to improve the quality of real estate development processes. By applying management methods of the product development processes (PDP) to the real estate development process, the possibility of errors should be reduced and interfaces should be optimized. The applicability of this product development processes in the early stages of real estate development will be demonstrated by way of example.

Keywords

Process, product development, real estate development, kaizen

Files

Reference

Kron, C. 2015, 'Application of Product Development Processes in the Early Phases of Real Estate Development: A Feasibility Study' In:, Seppänen, O., González, V.A. & Arroyo, P., 23rd Annual Conference of the International Group for Lean Construction. Perth, Australia, 29-31 Jul 2015. pp 589-598

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