Enhance an existing Excel model to make it easier to complete a financial analysis quickly on real-estate development projects. The projects are mixed use developments, primarily those with two uses – commercial space and apartments which may later be sold as condos.
The new model should be setup so that one assumption page should be able to populate the rest of the model. However, there are a tremendous number of variables. There is a much more detailed model that is the next step that I can provide to the winning bidder after we reach agreement on proceeding. This next step model will help explain what we need to plan for. With good work on this first phase there could be an ongoing business for the winning bidder to update the models as new and different opportunities require new parameters to be added.
The current model is 5 worksheets within 1 workbook. Max length of any worksheet is 120 lines long and a couple dozen columns wide. Therefore it is not currently a very big model. I will send the Excel sheet to a limited number of candidates who appear to be qualified. The new model will have a lot more worksheets.
To be selected you must send me a sample of models you have worked on in the past. The more similar to this project the better. Experience in real-estate modeling is a plus. If it makes sense to proceed I will send to you the model in Excel to allow you to better refine your bid.
Scope if selected -
1. Document the scope of work - Review the current Excel model in detail and determine all the relationships/formulas. Ask me questions about anything you don’t understand. Document the scope based on your review of the Excel model. I am looking for the selected contractor to provide ways to best organize and manage the project. I estimate this review and explanation of how the business works and the features needed in the new model will take about 10 hours. This will be a Word document with your understanding of the model and assumptions. This is a key element to the project. If not completed well we will not proceed to actually building the model with you.
2. The next step will be to define the general layout of the new Excel model and review. No time estimate. You will need to determine. I will not necessarily be selecting on lowest price so explain how you will do this.
3. Build the model.
a. Break the model into a lot of worksheets within a workbook so that each tab only contains a specific topic.
b. Include a lot of checks in the model as well to make sure no math errors.
c. New model should have a reporting tool to allow easy printing of selected pages. An easy way to hide printing certain info, etc. We can discuss and define the scope during step 1.
d. Be easy to understand so that I can have my admin work on it. Therefore documented instructions will need to be provided.
4. Test with a new set of assumptions on a project that I am working on right now.
We need this project completed quickly so please let us know your availability and how much time can be quickly dedicated to complete this.