: Shaping the concept to make it realistic and marketable.
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This stage involves securing control of the land and assembling the team. The authors stress the importance of the "Option Agreement," allowing developers to control property during the entitlement phase without the full risk of ownership. Additionally, this stage covers the assembly of the "Development Team": the architect, contractor, engineer, and attorney. and general condition costs. Notably
Focuses on critical path method (CPM) schedules, change orders , and general condition costs. Notably, the 5th edition adds a section on for lumber, steel, and concrete. : Shaping the concept to make it realistic and marketable
