Sustainable Development

Source:(Jeanjean.com,2014)

Sustainable development is defined as “Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” (Liew, 2004) Many people will confuse about sustainable development and green building which I am always though that green building is a sustainable development. Throughout the lecturer which given by Ms.San Liew, I understand that sustainable development is covering wider scopes than the green building which green building is just one of the aspects of the sustainable development. As had mentioned in above, sustainable development is to fulfilling the people needs without compromising the need of the future generation. To achieve this objective, it shall balance the aspects of environment, economic and social.

Nowadays, sustainable development is getting popular in the construction industry because it able to improve the aspects of environment, economic and social in the country. Moreover, to achieve these aspects, we need to consider the various factors in the development together to balance with the aspects. After this lesson, the factors of sustainable development can be included in the proposal of the redevelopment of Matilda Street as it may improve the environment and produce a better building in the area. 

Please feel free visit my padlet wall about proposal development of MATILDA STREET =D
http://padlet.com/yeewen92/matildastreet

Marketing Analysis

Market analysis is the process of determining factors, conditions and the characteristics of a market. (Dictionary.com, 2014) A complete feasibility study shall be done for a development and it should be included the market appraisal, site and location analysis and the fulfilment of policy. Policy, site and location analysis need to be initiated first to determine a suitable development on the proposed site then the market appraisal will be carried out to identify the viability of the development. There are two types of analysis which can be carry out for the market appraisal which are SWOT (Strength, Weakness, Opportunities and Threats) and PESTEL (Political, Economic, Social, Technology, Environment and Legal). PESTEL is originally known as PEST analysis, this is a macro environmental framework used to understand the impact of the external factors on the organization and is used as strategic analytical technique. (BPMgeek, 2011) This could help to identify the key aspects which needed to be consider by the developer in a development. Once the type of development has been decided, then SWOT analysis will be take in to place to identify the viability of the development. SWOT analysis is a framework for identifying and analysing the internal and external factors that can have an impact on the viability of a project, product, place or person. (TevhTarget, 2014) This could analyse the advantages of the development which are Strength and Opportunities and also the disadvantages of the development which are Weakness and Threats.

Figure 1: SWOT (cerasis, 2013)

Figure 2: PEST (projectsmart.co.uk, 2014)

Through this lecture, I have more understand and have the knowledge in the implementation of the market appraisal for a development. This lecture had help me in improving the decision making skill and also accessing the environmental risk factor which associated with a development. 

Please feel free visit my padlet wall about proposal development of MATILDA STREET =D
http://padlet.com/yeewen92/matildastreet