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Getting Started with On Schedule

Estimated reading time: 1 min

On Schedule is a powerful and flexible product which can easily handle projects both large and small, of multiple phases, and of many different types of projects. Its flexibility also makes it a bit harder to learn than our other projects. Take some time to review the user guide and knowledgebase articles before jumping into the product.

Almost all data entry occurs on the Development/Absorption and Construction worksheets. Here is a brief breakdown of how to begin with data entry:

General Info

First enter inputs on the General Info worksheet. Most of these fields are text entries which are used on reports. Pick a start month and year – choose a point in time when your work on the project truly begins, not the beginning of construction. Lastly, enter a discount rate for present value calculations. Consult the cell note for further guidance.

Move on to Development and Absorption

Get started with the assumptions in rows six through 17 which cover financing, equity and sales transactions. We have documented all these entries with cell notes – point your mouse over the red triangles for details. See also the Development Loan article.

To the right is a separate section which allows you to name the types of units in the project and how long to construct each type. Be sure to consult the article on On Schedule’s unit types for step by step instructions.

Site Costs

Here we provide over 40 rows to list all the hard and soft costs for the project. Costs dedicated specifically to individual units are spelled out on the next (Construction) worksheet. We discuss the difference between these two sections in a knowledge base entry on job costs.

Development Projections

This section addresses when construction begins, when units are sold once completed, what the sales prices will be and what the unit construction costs will be.

Don’t overlook other important assumptions such as allocation of sales proceeds to pay off of your development loan (hint: try 80-85 percent as a starting point), rental revenue, and finally the interest rate for your loan.

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