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Slide 1

INCEPTION AND
FEASIBILITY STUDY
Amended / Lecture by:
M dm RAFIZAH M OHAM ED NORDIN
Original Notes by :
Ts AIM I ASHIKIN HANIB

The best preparation for tomorrow is doing your best


today.

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Slide 2

At the end of this topic student should :


• Explain the activities involved during feasibility studies
• Understand and able to conduct required investigation for FS.
• Used current technology to execute feasibility studies.

The best preparation for tomorrow is doing your best today.

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Slide 3

PROJECT DEVELOPM ENT ACTIVITIES


Construction

(1)*
Design • Progress
• Time
(2)*
• Contract Sum
• Cost
• Claims & Payments
Quality Planning & Control • Quality
• Variations
Process • Health & Safety
Detail
• Environment • Extension of Time
Design & Specifications • Determination
Environmental Planning & Control • Completion
Process Monitoring & Control • Etc.

Health And Safety Planning & Control Process Authorities Approval Contract Administration (2)

Administer Value Management Project Monitoring


PROJECT
START SUCCESS
Conceptual Design
Financial Control
OR FAILURE
Preliminary Estimate Process
Tender
Award Testing &
Project Financial Commissioning
Project Brief &
Viability Hand Over
Tender
Project Implementation Evaluation DLP
Initiate the Management
project PLan & Control Tender Exercise
Managing Operations And Maintenance
Tender Documentation Plan Processes
Procurement strategy

Conceptualisation/ Tendering Close Out


Inceptions

The best preparation for tomorrow is doing your best


today.

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Slide 4

INITIATE THE PROJECT (IP)


Gather Define
Establish
statement of project scope
design brief
needs & limitation
Interview & negotiation

Technical proposal
Establish project team formation
Propose fees

Agreement
Select and
Initiate the Appoint Proposal evaluation & selection
the
Project consultant Shortlisted consultants

Quality based selection method

Fee bidding method

Design competition
method
Request for proposals

Statement of work

Areas of expertise required


Investigate the Project Site

Site Soil Existing Ownership Required Utilities Site


investigation structures record easement availability Restrictions Supply Chain
accessibility
and site investigation
survey

The best preparation for tomorrow is doing your best


today.

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Slide 5

IP: Establish Project Team Formation

1 2 3
Gather statement of needs
• Context ie regulatory, Define scope & limitation Establish the design
stakeholder needs, creating SCOPE: written document that outlines brief & project
processes defining business
strategies.
what JOB/TASK/ ACTIVITIES are included in
your construction project. As part of the
team.
• is a formal document that contract documents, it describes a
project's objectives, milestones,
defines the entire scope of the deliverables, and outcome
work involved for the project
with a clear outline of the LIMITATION:
deliverables, outcomes, costs Budget, Communication, Time
and timelines. management, Skills & Source Available,
Safety e.t.c

The best preparation for tomorrow is doing your best today.

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Slide 6

IP: Select & Appoint Project Team

Proposal
Interview and Technical evaluation
Propose fees
negotiation proposal and selection

Shortlised Design Request for


Fee bidding
consultant competion proposal
method
method

Area of
Statement of
expertise
work
required
The best preparation for tomorrow is doing your best today.

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Slide 7

IP: Investigate Project Site –Feasibility Study


• An exercise to determine whether a propose project is feasible.

• Study should be aimed at determining what shape the project


should take, how it should be implemented, priced and marketed
based detailed market data and analysis.

• A proposal to determine whether a project is viable or feasible


from both the business and technical aspect

• Identify and recommend choices available and determine the


shape of development and how it should be implemented and
marketed.

The best preparation for tomorrow is doing your best today.

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Slide 8

Approach to Feasibility studies:

MARKET
FEASIBILITY
MARKET STUDY

ECONOMIC
FEASIBILITY
DESIGN
FEASIBILITY

SITE /
LAND
ID.

LOCATION
FEASIBILITY
DEVELOPMENT

https://www.prospectus.com/real-estate-feasibility-study-
malaysia/
BUDGET

FINANCIAL
FEASIBILITY

The best preparation for tomorrow is doing your best


today.

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Slide 9

Establish Feasibility Study


Study should be aimed at determining:
what shape the project should take?? --→→ Type of structure and function, size of project / phase of dev
how it should be implemented? --→ Type, duration of contract

1. Priced and marketed based: to study detailed market data and analysis of proposed project
2. Base on detail market study, the next stage is to prepare a PROJECT PROPOSAL to determine whether a project is viable or
feasible from both the business and technical aspect.
3. From the detail proposal, Identify and recommend choices available (methods, technologies, expertise, materials sources,
planning) and determine the shape of development and how it should be implemented and marketed.

• Project Brief; Appropriate type of project for a specific site, the character of the project
• Market Study; (also known as market analysis, market assessment, market sounding, market research, etc.) is useful when
defining requirements; preparing budgets; choosing procurement method; planning and scheduling the procurement of goods,
services and works; evaluation of bids/proposal, and sometimes to justify contract amendments.
• Site investigation (Land identification); Jurisdiction of said piece of land - its mukim / lot no/district, the master development plan
of the area, zoning of the locality, including density, availability of essential services, access to subject property from the main
road, title search to determine express conditions, registered owner, tenure and encumbrances, Land Valuation - Professional
valuers is sought on current valuations of the proposed land; Acquisition of lands - State lands: direct application or joint venture,
Private land: Sales purchase agreement or joint venture
• Identifying Suitable Land - Land Identification,
• Land acquisition - one of the important elements in the land development process. The process of land acquisition provides a
legal procedure for the public sector in acquiring any land for development projects that benefits the country.
• Land Conversion – Application of Conversion, within 48 days.
• Thus, in cases where the land chosen or acquired for the purpose of development is still in its agriculture status, the application for
the conversion (to building or industrial status), sub-division, partition or amalgamation of land, wherever applicable, must be
obtained first before any actual development can take place.
The best preparation for tomorrow is doing your best today.

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Slide 10

FS : PROJECT BRIEF

The best preparation for tomorrow is doing your best today.

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Slide 11

Client Requirement
Project Brief
• Appropriate type of project for a specific
site
• The character of the project
“The project brief is the final stage in the process of defining
the client's requirements for the development of a built
asset: The statement of need is the first attempt to describe
the possible requirements of the project.”
(Designing Buildings, 2017)
www.designingbuildings.co.u
k

The best preparation for tomorrow is doing your best today.

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Slide 12

FS : M ARKET STUDY

The best preparation for tomorrow is doing your best today.

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Slide 13

www.api.org.au
The best preparation for tomorrow is doing your best
today.

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Slide 14

Market Study
“A market study (also known as market analysis, market assessment,
market sounding, market research, etc.) is useful when defining
requirements; preparing budgets; choosing procurement method; planning
and scheduling the procurement of goods, services and works; evaluation
of bids/proposal, and sometimes to justify contract amendments.”
(procurementclassroom.com, 2017)
It includes:
• Potential demand for houses, office, retail etc.
• Existing supply of houses, office, retail in the vicinity
• Competition from the existing types and prices and of other
development in the vicinity
• Authorities policies with regard to property development and project
proposal
• Timing of the launch of the project; business cycle of the
industry
• Projection of expected sales and estimated sales period.
The best preparation for tomorrow is doing your best today.

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Slide 15

FS : FEASIBILITY STUDY

The best preparation for tomorrow is doing your best today.

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Slide 16

FS : LAND ID, ACQUISITION, CONVERSION

The best preparation for tomorrow is doing your best today.

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Slide 17

Identifying Suitable Land


Land office Site investigation (Land Site visit
and Deskidentification)
/ preliminary studies Site reconnaissance
JUPEM Jurisdiction of said piece of land - its mukim / lot no/district, the
master development plan of the area, zoning of the locality,
Location and present use of the land, site topography
and existing drainage, distance from town center,
including density, availability of essential services, access to
population of the area, economic activities of the
subject property from the main road, title search to determine
area, surrounding development, accessibility,
express conditions, registered owner, tenure and flooding, etc)
Statistica encumbrances.

l data

Land
Valuation
Professional valuers is sought on current valuations of the proposed land

Acquisition of lands

State lands: Private land:


Direct application or joint venture Sales purchase agreement or joint venture

The best preparation for tomorrow is doing your best today.

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Slide 18

INCEPTION – Land Ownership


• Land ownership in Peninsular Malaysia is governed by the Federal Constitution
(“FC”), the National Land Code 1965 (“NLC”) and the Land Acquisition Act 1960
(“LAA”). Malaysian land law under the NLC is based on the Torrens System,
where the register of land ownership is maintained by the government and
guarantees an indefeasible title (or undefeatable title) to those owners listed in
the register.
• Land ownership is guaranteed under Article 13 of the FC. However, this
constitutional right is subject to the government’s right to acquire land
for adequate compensation.
• There are 3 routes to land ownership, namely by dealings (by purchase
and followed by transfer and registration at the relevant land registry),
through inheritance (from one’s parents or ancestors) and by acquiring it
through alienation (state land is “disposed” by way of alienation) from the
state.
(Mah & Balasundaram, 2017)

The best preparation for tomorrow is doing your best today.

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Slide 19

The NLC recognizes two types of land


ownership (title), namely land held in
perpetuity (freehold land) and land held for a
term of years (leasehold land). Land ownership
has certain duties which are paying the annual
quit rent to the state authority and complying
with all the express and implied conditions
affecting the land. “Express conditions” are
specially endorsed or expressed on the land title
while the “implied conditions” (sekatan
nyata) are those stated in sections 115 (for
agricultural land), 116 (for building land) and 117
(for industrial land) of the NLC.
Breach of any of these conditions, if not remedied
in time can result in forfeiture. The type of land
(whether freehold or leasehold) and the express
and implied conditions are relevant to the land
acquisition process, as the compensation
awarded will depend on the character of the
property acquired.
The best preparation for tomorrow is doing your best
today.

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Slide 20

The best preparation for tomorrow is doing your best


today.

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Slide 21

(Royal Malaysian Customs Department,


2016) The best preparation for tomorrow is doing your best
today.

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Slide 22

INCEPTION – Land Management Req.

TYPES OF LAND TITLE

FREEHOLD LEASEHOLD BUMIPUTRA RESERVED


(Malay Reserved Area – MRA)
• The lands that belong to the state
• State land is disposed government but they have given a long
This type of property is
off by the state term lease to the public for a term of reserved for them which is in
years by virtual of law not exceeding line with the government’s
authority to an 99 years – duration usually 30, 60, 99
individual in years. After the lease has expired, the economic policies.
state government will claim back the land
perpetuity for an from the last owner.
Objectives:
indefinite period – 1. Prevent State Land in
• Limited by purpose of
very high level of lease and land MRA from being disposed
legislation: by any means to the non-
security ✔ Stocking levels, cultivation – may be
• Unlimited right to restricted by lease condition Malays.
subdivide and ✔ Upon expiry of the lease, the land 2. Prevent any private
should be reverted to the state
aggregate subject to authority. The owner will then have to
dealings between Malay
environmental and either apply for renewal of the lease and non-Malay in term
before its expiry or apply for fresh
town planning alienation if the lease has expired.
of Malay Holding or MR
✔ Lease transfer require State or its land.
control equivalent approvals
– some power to ** except Melaka and
acquire land for public Penang
The best preparation for tomorrow is doing your best today.
works

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Slide 23

Other types of titles that you should be aware of:

1. Master Titles: Once the developer get the permission to develop a piece of land,
the land office will then grant this title to the developer for the whole
development projects.
2. Individual Titles: This is the title for landed properties. Once the developer handed
the houses to the purchasers, the developer will need to apply to the land office to
subdivide the Master Titles into Individual Title and Strata Titles. In addition, the
homeowner can receive this type of title in very short of period.
3. Strata Titles: This is the title for high-rise properties. Same as Individual Titles,
which is once the purchaser get the house from the developer, the developer is
liable to apply for the strata titles on behalf of the purchasers. In addition, this type
of title is usually to be issued after 7 or even 20 years.
• Strata title is one of the title structure of ownership and it basically gives you the privilege to control over a
property or a piece of land as well as enable you to transfer the property to others.
• Its generally apply to high-rise buildings such as residents of flat, apartments, condominiums and commercial
building jointly developed within a development that shares common facilities such as gated & guarded,
security, car parks and facilities governed by a common contract of mutual agreement. Under the Strata Title
Act 1985 developers are required to apply for the strata titles on behalf of the purchasers.
• Apart from that, the strata title would enable the residents to form a Management Corporation
(MC) to run the management and maintenance services of their property.

The best preparation for tomorrow is doing your best today.

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Slide 24

Qualified Title (QT) Hakmilik Sementara (HS(D) or HS(M) – Can be freehold or leasehold =
Borang 11AK. It’s a temporary document before land office provide the final title Geran
The best preparation for tomorrow is doing your best
today.

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Slide 25

The best preparation for tomorrow is doing your best


today.

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Slide 26

Land Identification
- Detail information
Office
Land

JUPEM
- Identify vacant land
for development on the land including
location plan, map,
- ‘Carian rasmi’ and boundary
stones

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Slide 27

Zoning

• http://iplan.townplan.gov.my/
• Guidelines
• https://www.youtube.com/watch?v=14vLJfFL
8fE

• https://www.youtube.com/watch?v=qIpL0nN
pEyY
• Geran/Title tanah

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Slide 28

Land Acquisition
Land acquisition is one of
the important elements in
the land development
process. The process of land
acquisition provides a legal
procedure for the public
sector in acquiring any land
for development projects
that benefits the country.
However, the land
acquisition should be for
the public purpose and thus
in lined with
the provision of Section 3
(1) (a), (b) and (c) of the
Land Acquisition Act 1960
(LAA 1960).
The best preparation for tomorrow is doing your best today.

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Slide 29

Land Acquisition
According to the provision of Section 3 (1)
of the LAA, procedures of land acquisition
for every state should include:

Application, examination and endorsement

Investigations and orders

Compensation payment

Acquisition

Court referring

Tax amendment and provision of (Omar, 2007)


title The best preparation for tomorrow is doing your best today.

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Slide 30

Land Acquisition
Land acquisition may includes application for the following approvals:
1. Conversion
2. Sub-division
3. Surrender and alienation, Section 204D
Under the National Land Code (NLC) which is the governing code for land administration
in Malaysia, land development however takes place in one or more of the following
forms:-
(a) Variation of conditions, restrictions and categories (Section 124)
(b) Sub-division (Sections 135 – 139)
(c) Partition (Sections 140 – 145)
(d) Amalgamation (Sections 146 - 150)
(e) Simultaneous applications for sub-division and variation of conditions, restrictions
and categories (Section 124A), and
(f) Surrender and re-alienation - special provisions (Sections 204A – 204H)

Thus, in cases where the land chosen or acquired for the purpose of development is
still in its agriculture status, the application for the conversion (to building or industrial
status), sub-division, partition or amalgamation of land, wherever applicable, must be
Thedevelopment
obtained first before any actual best preparation for place.
can take tomorrow is doing your best today.

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Slide 31

Land Conversion

(http://www.jpph.gov.my
)

(REHDA, 2010)

The best preparation for tomorrow is doing your best today.

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Slide 32

FS : LAYOUT PLAN

The best preparation for tomorrow is doing your best today.

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Slide 33

Layout Plan
SITE PLAN include the outline of a
A site LAYOUT PLAN shows a detailed layout of the whole site and the
building. Detail of exterior portions
relationship of the proposed works with the boundary of the property,
surrounding in a building structure
nearby roads, and neighbouring buildings.
is shown

The best preparation for tomorrow is doing your best today.

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Slide 34

FS : DEVELOPM ENT ORDER (DO)

The best preparation for tomorrow is doing your best today.

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Slide 35

Development Order / Planning Permission


(Kebenaran Merancang –KM)

• A planning permission is a written permission obtained from a local planning


authority (LPA) before any development project can be carried out.
• A planning permission must be acquired after use of land conversion is
approved and before building plan process can proceed.
• There is no minimum land area exempted from planning permission.
Interpretation of Planning Permission
Refer to subsection 2 (1) of Act 172, planning permission is defined as 'given, with or without
conditions, to carry out development'.
"Doing development" here means, any act of development including works
requiring approval The
under the preparation
best other Act. for tomorrow is doing your best today.

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Slide 36

Prohibition of Unauthorised Development Plan


• Requirement to obtain planning permission is provided under Section 19 (1), Act 172, namely:
"No person, other than a local authority, shall commence, undertake or carry out any development
unless permission of planning has been given to him under Section 22 or extended under Section
24 (3)".
• All development shall obtain the approval of planning permission from the Local Planning Authority. If
development carried out without planning permission or development carried out contrary to
planning permission, the owner may be convicted of an offense under Section 27 and Section 28 of
Act 172. Penalties that may be imposed is in accordance with Subsection 26 (1), which is a fine not
exceeding five hundred thousand ringgit or to imprisonment for a term not exceeding two years or
both.
Planning Permission The Essential Referred To Next State Planning Committee to the National Physical
Planning Council (NPPC) Pursuant Advice For Getting Subsection 22 (2A) of the Act 172
1.New urban development for a population exceeding ten thousand (10,000) or covering an area of
more than one hundred (100 hectares) hectares or both.
2. A development for the construction of any infrastructure or key facilities, including:
a) The work of the country's infrastructure such as airports, seaports, railways and highways, and
b) The work of national facilities such as dams, power generating stations and toxic waste dump.
3.A development affecting the area at the top or hillside, in an area designated as environmentally
sensitive areas in a development plan.
Local Planning Authorities will refer to the State Planning Committee and subsequently the
Committee shall refer to the National Physical Planning Council for advice and opinions before
making a decision on an application is submitted.
The best preparation for tomorrow is doing your best today.

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Slide 37

PROCEDURES OF OBTAINING STATUTORY APPROVAL:


• Procedures for obtaining statutory approval for construction are not standardized.
• The procedures vary from one project to another depending on its nature, size and
complexities; from one department to another within local authority and from one local
authority to another.
Building
Certificate of
Development Plan Construction / Completion and
Order (DO) Approva Implementation Compliance (CCC)
l (BPA)
Three (3) PROCESS involve • Developer through their Consultants (Planners) has to submit
LCP
before DO can be issued :
/ DPR & layout plans for approval.
1. Submit ‘Laporan Cadangan • Layout plans will have to be submitted to the relevant
Pemajuan’ (LCP) / department of the respective municipalities or local
Development Proposal authorities.
Report (DPR) & Layout The Developer through its’ Land Surveyors will apply for
Plans land conversion and subdivision to PEJABAT TANAH DAN
GALIAN.
2. Apply Land Conversion &
• For projects more than 50 hectares EIA report is required
Subdivision
under Section 34A of the Environmental Quality Act
3. Submit Environmental • A detailed EIA must be submitted to the Jabatan Alam Sekitar.
Impact Assessment Report • Recommendations arising out of the review are transmitted to
(EIA) – for project more the relevant project approving authorities for considerations
than 50 hectares in making decision on the project.
The best preparation for tomorrow is doing your best today.

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Slide 38

Development Order / Planning Permission


(Kebenaran Merancang –KM)
• Planning permission is granted by the LPA
• For Municipal / District Councils, planning permission is granted by Local Authority.
• Outside jurisdiction of LA, the permission may be obtained from JPBD.
• Before a planning permission is granted, all applications will be referred to technical
agencies such as:
✔ Local Authority-Planning, Building, Landscape and engineering department; District Land
Office (PTD); State Planning(JPBD); Department of Irrigation and Drainage (JPS); District
Public Works Department (JKR); Tenaga Nasional Berhad (TNB Regional Office); State
Environment Department DOE(JAS); Fire Department (BOMBA); sewerage company
(IWK); Water Provider (SYABAS, SPAN); Telecommunication provider (SKMM, TM), etc.
• A final decision will be made by a committee or a full council chaired by the President of an
LA or District.
• Planning permission has a validity period of 12 months - section 24(1)T&CP Act 1976 (Act
172).
- During that period, site works must commence as approved in planning permission.
- The PlanningPermission will automatically lapse if no work is carried out on site.
- Section 24(4) of Act 172 provides for a planning permission validity period be extended for
another12 months upon request.
- The local planning authority may imposed further conditions in approving the
extension of the validity period.
- However, the validity period shall not apply forplanning permissions that do not
involve buildingworks.
The best preparation for tomorrow is doing your best today.

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Slide 39

FS : LCP / DPR

The best preparation for tomorrow is doing your best today.

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Slide 40

‘Laporan Cadangan Pemajuan’ (LCP) /


Development Proposal Report (DPR)
A technical report that explains and justifies a development proposal
to be submitted by an applicant for planning permission under
section 21A(1) and Layout Plan section 21B of Act 172.
The contents of a DPR/LCP must follow the provisions of sections 21A(1) of
the Town and Country Planning Act 1976(Act172), including:
• The development proposal's concept and justification.
• A location map, key plan, site plan and contour plan.
• Particulars of land ownership andrestrictions.
• A description of land including its physical environment, topography,
landscape, geology, contours, drainage and natural features on the
proposed site.
• A survey of all existing trees, vegetation and building affected
by the development.
• A land use analysis and its effect on adjoining land.
The best preparation for tomorrow is doing your best today.

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Slide 41

‘Laporan Cadangan Pemajuan’ (LCP) / Development


Proposal Report (DPR)
• DPR/LCP must be prepared for all
development proposal applications in a
particular local planning authority’s jurisdiction
(i.e., Planning Brief or LPP)
• DPR/LCP may also be required in the following
circumstances:
✔ Land Use Conversion Application
✔ Layout Plan Approval Application
✔ Building Plan Approval Application
✔ Land Subdivision Application

The best preparation for tomorrow is doing your best today.

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Slide 42

FS : ENVIRO. IM PACT ASSESSM ENT


(EIA)

The best preparation for tomorrow is doing your best today.

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Slide 43

Environmental Impact Assessment


(EIA)

The best preparation for tomorrow is doing your best


today.

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Slide 44

Environmental Impact Assessment


(EIA)

The best preparation for tomorrow is doing your best


today.

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Slide 45

FS : DEV. BUDGET

The best preparation for tomorrow is doing your best today.

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Slide 46

Development Budget

The best preparation for tomorrow is doing your best


today.

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Slide 47

FS : DEV. SCHEDULE

The best preparation for tomorrow is doing your best today.

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Slide 48

Development Schedule

The project schedule is the tool that


communicates what work needs to be
performed, which resources of the organization
will perform the work and the timeframes in
which that work needs to be performed.
The project schedule should reflect all of the work
associated with delivering the project on time.

The best preparation for tomorrow is doing your best today.

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Slide 49

Work Programme
1. Time management
2. Workers coordination
3. Optimising the usage of plants and machineries
4. Optimisation of financial resources
5. Optimisation of materials delivery
6. Coordination of work schedule

IMPORTANT FACTORS IN PREPARING WORK PROGRAM:


• MUST BE REALISTIC!
• CORRECT SEQUENCE OF WORK
• APPROPRIATE DATE OF COMPLETION – able to finish on
time or earlier
• CONSIDER WORK FORCE AND PROJECT FINANCIAL
RESOURCES
• TO INCLUDE MAJOR PUBLIC HOLIDAYS
• CLEAR DATE FOR START OF WORK
The best preparation for tomorrow is doing your best today.

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Slide 50

Work Programme - COMPUTER


SOFTWARES

The best preparation for tomorrow is doing your best


today.

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Slide 51

Work Programme - COMPUTER


SOFTWARES

The best preparation for tomorrow is doing your best


today.

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Slide 52

Site and locational FS Economic Feasibility Market Feasibility

Site Description Supply Analysis


Population Trend
Basic Services Demand Analysis
Date of Employment
• Constraints Surrounding
Valuation Trend
Development Price Analysis
Income Trend
• Statement of Location and Planning
requirement Neighborhood provision Economic Resources of
Area
Establish project
definition and scope Approach to FS
Establish Project Development Impact
Developers' Assessment
profits Environmental Impact
Execute Market study
Discounted Assessment (EIA)
Factor Traffic Impact Assessment (TIA)*
NPV
Social Impact Assessment (SIA)
IRR Conduct Project Impact
Profitability statement Establish Analysis & SWOT Others (current statutory
Payback Feasibility Study analysis requirement)
Period

Result from Impact Strength


analysis and SWOT
analysis Analyse Project
Feasibility/Cost Benefits
Weakness
Conduct
SWOT analysis Opportunities

Financial Analysis Technical feasibility Threat


analysis
Cost of
investment Construction Construction
Constructability
GDV Schedule Safety and Health
GDC
Cashflow

The best preparation for tomorrow is doing your best


today.

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Slide 53

Insequence progress with efficient


WORK PROGRAMME

The best preparation for tomorrow is doing your best


today.

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Slide 54

Construction Management Within the ‘Project Life Cycle’

Project Award

Site Mobilisation

Time Construction Resources Management Labour


Cost Plant & Equipment
Project Objectives Site Office
Quality Materials
Sundry Management
Safety & Health Contract
Site Possession Sub-contractors
Environment Administration Project Staff
Requirements Third Parties

The best preparation for tomorrow is doing your best today.

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Slide 55

THANK YOU
For Your
Time

The best preparation for tomorrow is doing your best


today.

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