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Property Risk Management Planning

An impact assessment is a key component of planning the future of properties. Before you can decide what to do with your existing building, you need to first determine what you have.

Property owners need to be aware of how their building compares with similar buildings on the market. Once the impacts are defined and assessed, owners can start to think about strategic planning objectives based on the needs that were revealed in the assessment phase.

One of the most important reasons to use project management is to align projects with business strategy. As project managers oversee the planning and execution of a project, they help ensure the project's overall goals and its subsequent tasks and milestones align with the organization's strategy.

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Here are the levels of impacts assessments:

1. Industry Standards Assessment

Analytical assessment enables the property owner to compare existing facilities with business and industry standards. 

Identifies building program and material standards as they relate to client image requirements and program needs. Develops a documented schedule of quality standards to be used in conceptual building design.

2. Socioeconomic Impacts Assessment

The assessment can be used to help identify social, cultural, and economic impacts for planning physical building projects. Identifies demographic, economic, and cultural trends that relate to future business growth. 

The key to successful risk management planning is in the quality of due diligence. By following the levels and your chances of property development success will be greatly increased.