AU2003100576A4 - Web based management system - Google Patents

Description

WEB BASED MANAGEMENT SYSTEM FIELD OF THE INVENTION This invention relates to a rear direct property product where a title is issued over a cubic space and that title is available for settlement prior to construction starting or during construction but before completion and the management of the process associated with this real direct property product resides in this invention by the way of the development management of real direct property product, the funds or dealer management of real direct property product, the first mortgage lending management of real direct property product and the asset management of real direct property product for the manufacture, distribution, financing and asset management of the real direct property product in particular but not limited to a novel system of managing real direct property product by way of development management for the manufacturing, the funds/dealer management for the management of distribution, the management of first mortgage lending for financing and the asset management for the managing of rental income and ongoing maintenance of the direct property product in an electronic commerce environment and with a web based management system that links interested parties through the use of a common database on a membership subscription basis through a portal/hub.

BACKGROUND OF THE INVENTION In the traditional prior art process of real direct property management, the management of assets, sales, financing, development, construction, databases, transactions, compliance, funds management, letting management, management rights and managing other entities is not done in a common electronic commerce environment, but is managed by many individuals who act purely in their own interests without considering all the other stakeholders within the industry. It is largely a completely disjointed management process with current legislation being ineffective in bringing the many conflicting parties together for the benefit of the industry as a whole. The traditional process is expensive to manage, and does not integrate the total process, such that only some parts that operate in an 2 electronic environment, creates many conflicts of interest, is detrimental to the landowner, is detrimental to the consumer/investor, causes undue pressure on all the participants and investment advice is often given by persons not qualified to give such advice. There is also little or no ability for investors to invest in direct property as dealerships and their advisors are unable to give advice. Also funds managers (particularly in residential property) do not invest because the returns are insufficient to attract such funds. This is detrimental to the investor market especially as property investment is traditionally considered to be the safest form of investment and represents the major investment in the lifetime of most people.

OBJECT OF THE INVENTION It is therefore an object of the present invention to seek to ameliorate some of the disadvantages and limitations of traditional prior art systems of real direct property management or to at least provide the public with an alternative and useful choice.

STATEMENT OF THE INVENTION According to one but not necessarily the only aspect, the invention resides in a web based development manager's system for managing the real direct property industry and the funds management of real direct property including in combination a web server hosting a subscription based portal/hub website, the portal/hub website providing access to websites and/or email addresses of members, the portal contactable through a universal resource locator by members via a member user system, the web server central processor interfacing with a directory component adapted to enable location of a particular member's web address and/or website, geographical location or type of property, a database component adapted to store member data and information, a database management component adapted to allow input and retrieval of the data and information, a web browser component adapted to interrogate and provide access to the information and data, a member identification component adapted to qualify a member's access to the information and data, and a direct property product that is an individual investment with a title being available prior to construction or during construction the same direct property product with title being issued prior to construction starting or during construction that resides in a funds management component adapted to manage investor funds that are managed by a responsible entity and offered to the members of a portal/hub, wherein in operation, by logging on to a portal/hub website, and following provided instructions, the qualified member can be connected to a web based manager's website and wherein the web based manager's software includes a Events management module adapted to enable the creation and management of files in respect of new and existing projects created by the web based manager.

Within the same management website a funds management module enables the management of first mortgage funds and asset managed funds and a events management module adapted to manage all events which occur in undertaking the manufacture, distribution, lending and renting/maintenance of the real direct property product.

The events management module to consist of, Risk Management events, Compliance Management events, Conflict of interest management events, Contract Management events, Incoming Document Management events, Outgoing Document Management events, Meeting Management events, Telephone Management events, Fax Management events, Email/Dmail Management events, Report Management events and any other Management events required to deliver real direct property product with a settlement occurring prior to the start or the completion of construction and provide the necessary compliance format to meet securities legislation in any jurisdiction.

a landowner events management module adapted to link internal managers responsible to the land owner and consultant members providing a service to the landowner to effect a settlement of titles prior to construction starting or during construction, a purchaser/product member events management module adapted to link to a compliance system of internal managers responsible for purchasers, to solicitor members preparing contracts, to financier members providing finance and to financial planners acting for the purchaser, a consultants events management module adapted to link the project with the internal manager responsible to the consultant for the landowner member attached to the consultant and to other consultant members attached to a project, a diary events management module adapted to link all internal managers wherein the managers can be reminded by a diary component typically a text reminder or a computerised voice over reminder of all events, a communication events management module adapted to link all internal managers and external consultants by means of a voice over IP system and a linked remote user module a document events management module adapted to link all internal managers or consultant members and other members involved in a project to a internal filing system wherein access to documents is restricted because of privacy policy and or to those members the information does not apply, a conflicts of interest events management module linked to a risk events management module to continue to remind internal managers of identified risks or conflicts of interest as they arise in a project, a research events management module adapted to link on-line databases and continue to manage new information and data that is relevant for managing real direct property, for example, building prices, sales prices and changes to legislation, a contracts events management module adapted to directly link a project file to track all events, from an expression of interest, the activation of the preparation of formal contracts and the management of deadlines of events relevant to a contract of the purchaser of real property, for example, due dates in relation to deposit bonds, approval of finance, settlement of contract conditions, settlement of land parcels, payment of building deposits, construction draw down payments, lifting of covenants for occupation and final payment, completion of rectification, and any other contractual management task required under due process.

A web based Dmail system that links to the outside world via the normal email systems but operates internally as an internal management system called Dmail that allows DMails to be filed directly into projects and are available to be viewed by all who have access. All authorized stakeholders are able to create, send, file and view DMails within a particular project by simply logging on the internet with their membership number and password and access Dmail from within the web based management system.

Preferably the member system is a computer system with an interactive display means for communication via the Internet.

Preferably the interactive display means includes a visual display unit with an interactive device, typically a key pad, touch pad, mouse and/or joystick device.

Preferably information and data on the website is presented and accessed by all members online via the web browser.

Preferably the directory component enables members to be located by their title, name, physical address, locality, post code, discipline or by the type of goods or services provided.

Preferably the member identification component includes security protocols that qualify and restrict access of the member according to the member's security clearance or access levels. The member identification component preferably comprises a firewall, an access manager and a software router to qualify the access of the member to appropriate application layers of the web server according to the security clearance or access level of the member.

Preferably member access is via a user name and/or password recognised or rejected by the access manager.

Preferably the fund management component includes an accounting function which can be interfaced with an externally sourced transaction and record keeping service such as wrap accounts and master trusts which also has the ability to repair and generate relevant accounting and fund management documents and records.

Preferably the accounting functions are able to be varied and adjusted via the Internet.

Preferably the information and data held in the database can be interrogated and can be manipulated to produce various reports via the Internet.

The database is preferably a relationable database which is managed by a relationable database management system. Suitably the members include statutory authorities, consultants, builders, land owners, property development managers, members providing financial services, solicitors, insurance providers, financial planners, accountants, ordinary consumers, banks and other financial institutions, fund managers, payroll loyalty program providers, suppliers including building suppliers, property traders, and other entities.

Preferably the web server also interfaces with a navigation component adapted to provide a virtual display of an ambulatory walk through view of selected projects or properties via the web browser.

Preferably there is also a project external management module adapted to allow external managers to create projects, create project contacts, create project events, close out project events and effectively manage projects using a remote hand held computer linked via the internet to the server.

Preferably there is a projects contacts management module as part of an internal management system whereby a projects manager can add a new contact by searching the membership database to identify project participants by name or by discipline.

Preferably there is a projects diary management module adapted to function as a diary system that is linked to all events as a diary reminder system utilising text reminders or voice over reminders to automatically remind relevant parties of events concerning a project.

Preferably there is also a diary component available to members to remind members of important events and due dates in the form of text reminders or computerised voice over reminders.

Preferably there is a project time management module adapted to manage all tasks carried out by internal and external managers, allow for billing rates to be set for each team member of an internal management team and wherein all time spent on projects is tracked inclusive of telephone calls, emails, documents created, events and any other time spent by the internal and external management team.

Preferably there is a project communications management module adapted to function as a communication centre to manage all Dmail, telephone calls, facsimiles and memos that are created in the course of managing projects.

Preferably there is a project research management module comprising a research database of information collected by the internal management team as a result of researching and collecting projects.

Preferably there is a risk management module adapted to assess all risks within a risk program which are disseminated as risk events to all internal managers as a continual reminder to manage the risk and adapted to track all events created inclusive of architectural drawings and facsimiles, search documents and to create a chronological list of all documents and events that may be required if there is litigation concerning a project.

Preferably the modules are connected to other software programs eg Microsoft Excel

TM

and Microsoft Project Manager T M and Microsoft WordTM and Microsoft Power PointM Preferably the development manager system can be linked to or integrated with other external management system through the portal/hub to the benefit of all members.

In a further aspect, the invention resides in a funds management system utilising the web based development manager system hereinabove described, the funds management system including 1) an on-line prospectus offering to members an opportunity to invest in a residential, commercial, industrial, retail or a mixed investment fund, demonstrating a return on investment.

the investment fund comprising an 2) asset managed landowner or purchaser fund and/or a 3) first mortgage fund, wherein, investors are offered a capital guarantee for the amount of their investment as a form of security, the asset managed fund and/or first mortgaged fund adapted to divest their funds at a pre-determined time, a first part of the investment fund to offer long term interest only first mortgage funds to purchasers of property, wherein the borrower of the funds will pay annual interest in advance whereby investors will receive annual interest payments less any fees payable to a responsible entity and/or a financial advisor, and wherein the investment fund will provide an income stream greater than current bank interest rate to the investors, the second part of the investment fund adapted to invest in real direct property developed by the development manager whereby benefits associated with the purchase of the property are received on an annual basis and rental income is reinvested in real direct property produced by the development manager during the life of the investment fund less any fees payable to the responsible entity, Preferably the investment fund provides a loan for 100% of the members borrowing requirement.with security taken over the real direct property purchased by the member and extra security is taken over the benefits package exclusively available to the member.

Preferably the benefit package is reinvested to pay out the principle at the end of the loan period.

Preferably the loan is fixed at an agreed rate for the full term of the loan and does not require principle to be repaid during the term of the loan.

Preferably the second portion of the investment fund is a capital growth fund with a definitive life of 1 to 15 years.

Preferably at the end of the 1 to 15 years, the real direct property is sold and total funds are dispersed to investors on a pro rata basis according to their original investment.

Preferably when the second fund purchases real direct property of a development manager member, it receives all the benefits associated with the benefits of real direct property according to the invention.

Preferably benefits dramatically increase the return to the member investors of the fund.

Preferably the first and second portions of the investment funds can be separate entities.

BRIEF DESCRIPTION OF THE DRAWINGS In order that the invention be more readily understood and put into practical effect, reference will now be made to the accompanyi,ng illustrations wherein: Figure 1 shows a preferred architecture of managing real direct property through a web based manager software package that is extricably linked to a portal/hub and the development, lending, asset and fund/dealer manager websites via a common database according to the invention.

Figure 2 comprises a flow diagram of a preferred architecture relating to a funds management program developed exclusively for operation within the e commerce environment of the invention.

Figure 3 shows how the web based manager provides the management software standard responsible for managing all member industry participants through the PSX portal/hub so this invention can value add to the management of the real direct property process through a linked single database on behalf of all members.

DETAILED DESCRIPTION Figure 1, 2 and Figure 3 Figure 1 comprises a flow diagram of a preferred architecture relating to a software program for the professional management of all parties associated with real direct property development but can also be used to manage many other industries outside the real direct property industry. This program acts as a files management system, communication management system, research management system, contacts management system, time management system, a risk management system, a document management system, a client management system, a development management system, a product management system and an integrated internal management system for the internal manager. It also links an integrated external management system to the portal/hub for reseller members and landowner members.

A specialized management team specially trained in the preferred method can login with a password to the software program that allows the team member to open the front end which is labeled "projects" Project file management allows the manager to create a new project (4a) or search (4b) the database for already created projects. Once in a Individual project file the project manager can create individual contacts by discipline (6) from the PSX member database or a similar database. There may be 150 contacts in a particular project with differing disciplines eg Architect, Engineer, Solicitor, Purchaser, Landowner, etc. Once the contacts have been set up within the project software the project can then start to be managed.

The most important function of this management process is the Events Management module which is linked to all other functions within the management package. Every event needs to be project related and to create events the manager can either create these directly in the project file or from within any of the project management modules, e.g. internal, files, contacts, diary, time, communication, research, risk or document. All events once created are continual reminders within the system to ensure the event is addressed and finalised. The reminders will continue within designated period e.g. every hour, day, week, month, year until completed. Each event is linked to certain disciplines or modules e.g. Landowner Events Management and includes links to the diary of the internal managers responsible to the landowner and to the consultant members providing a service to the landowner. The Purchaser Events Management module links to the diary of the internal managers responsible for purchasers, to the solicitor member preparing contracts, to the financier member providing the finance and to the financial planner to whom the purchaser belongs. The Consultant Events Management module (10) links to the diary of the internal manager responsible to that consultant, to the landowner member attached to that consultant and to other consultant members who are attached to the project. The Diary Events Management module (11) is linked to all internal managers and managers can preferably be reminded by a diary component via text reminders or computerised voice over reminders. The Communication Events Management module (12) is linked to all internal managers and can be linked to a voice over IP system. The Document Events Management module (13) is linked to all internal managers, all consultant members attached to a project, most other members involved in the project but restricted use applies to certain documents because of privacy policy. The Conflicts of Interest Events Management module (14) is directly linked to the Risk Events Management module (15) which continually reminds internal managers of identified risks or conflicts of interest as they arise.

The Research Events Management module (16) is linked to online databases and continually reminds and manages new findings that are relevant to managing real direct propertye.g. building prices, sales prices, legislation changes etc. The Contracts Events Management module (17) is directly linked to a project file and tracks all events, from an expression of interest which activates the preparation of formal contracts and manages the deadlines of events relevant to a contract to purchase real direct propertye.g. deposit bond due, finance approval due, contract conditions due, settlement of land parcel due, building deposit due, construction draw down payments due, lifting of covenant due for occupation and final payment due, rectification list due and any other contract management tasks required for due process.

The Project Internal Management module (18) is the input medium for internal managers to create projects, create project contacts, create project events, close out project events and effectively manage projects. Daily reminders(19) and inbuilt voice reminders are the packages system of reminding internal managers that an event is required to be managed, these events will continue to remind until completed and closed out. An Expression of Interest module (20) is the precursor to a purchaser of real direct propertybecoming a part of a project. These purchasers cannot be manually entered by an internal manager but will link to the project automatically via the membership database of PSX or some other similar database, therefore no person can become linked to a project without first being a member of PSX or some other similar database.

The Project Contacts Management module (21) is part of internal management system whereby a project manager will add (21a) a new contact by searching the PSX membership database to identify project participants by name and by discipline e.g. architect, engineer, financial planner, landowner, builder etc.

A project participant cannot be entered into a project unless they are a member of PSX. The internal manager can also search (21b) for project participants once attached to the project. This is required because on large projects there may be anywhere between 300 400 participants in a project file.

The Project Diary Management module (22) is a diary system that is linked to all events as diary reminder system, for instance an external project linked financial planner may wish to create an event for one of its clients via its membership access and direct that event to a particular internal manager. Upon the creation of that event, the event will automatically appear in that internal managers diary and will also be recorded as a project event within the particular project file. The diary management system can also be used by internal management to make appointment group (23) on line in a particular managers diary without the need to contact them and also to see all other diary events for that particular manager.

The Project Time Management module (24) is a total time management system that is linked to all tasks carried out by internal managers, it allows billing rates (25) to be set for each individual team member of the internal management team. When a team member is working within a project file the time management system tracks all time spent on project tasks (26) e.g. telephone calls, emails, documents created in other programs, events and any other time spent by the internal management team. This system is used to justify to certain members, the time spent on projects and it is also a useful tool for senior internal management to track and manage time spent by individual internal team members.

The Project Communication Management module (27) is a communications center that manages all Dmail, telephone, fax, memos (28) that are created in the course of managing projects. In particular it manages the connection between financial planners and accountants ensuring that any email that is sent to their PSX database or some other similar database, goes out under the financial planners or accountants email address, so that it appears at all times that they are managing the total process. It is essential part of this program that our internal management team have no direct contact with the financial planners or accountants, clients and that our internal management team are making the financial planner and accountant look property professional. The financial planners and their clients are to use this module to ensure that any telephone, Dmail or meeting with a client is recorded within the database for the project to meet compliance requirements under legislative requirements.

The Project Research Management module (29) is a research database of information collected by our internal management team as a result of researching and completing projects. This is also the connection point to other online databases (30) that provide specialty services to the real direct propertyindustry.

The Project Risk Management module (31) is where all risks are assessed within a interconnected risk program (32) and then disseminated as risk events to all internal managers as a continual reminder to manage the given risk.

The Project Document Management module (33) connects to other programs eg Microsoft ExcelTM and Microsoft Project Manager T M (33a) and Microsoft WordTM and Microsoft Power PointTM (33b). When an internal manager connects from within a particular project to any of these external programs, this is done through the outgoing document button On working within the document the time management module will time the time spent by the internal manager and the document so created will remain a document attached to the particular project.

This module is also used to track external documents (35) related to the project but created outside of the development manager e.g. architectural drawings, faxes etc. The search documents (36) module is used to search the database for a particular document related to the program. This module can also be used to create a chronological list (37) of all documents and events required for real direct property appeals or court cases.

Figure 2 Figure 2 shows a one of the preferred methods of a fund manager managing real direct property through a funds management program of the present invention according to the invention.

Members will be offered via a prospectus 1 or by other legal means the ability to invest in a residential, commercial, industrial, retail or a mixed investment fund. The fund will be broken into an asset managed fund 2 and a first mortgage fund 3. Investors will be offered a capital guarantee for the amount of their original investment as a form of security for their investment.

The two funds once established will divest their funds at a pre-determined date. One part of the fund 4 will offer long term interest only first mortgage funds to purchasers of property purchased within the membership base. The borrower of these funds will pay their annual interest in advance and investors of the fund will receive this interest less the fees payable to the Responsible Entity and the Financial Advisor, this fund will provide an income stream better than bank interest to the investors in the fund. This fund is very different to most mortgage funds as the loan is for 100% of the member borrowing requirement with security being taken over the real direct property being purchased by the member and extra security being taken over the benefits package available exclusively to the member. This benefit package is reinvested to payout the principle at the end of the loan period. The loan is also fixed at the agreed rate for the full term of the loan and requires no principle to be repaid during the term of the loan.

The second part of the fund 5 will invest in real direct property developed by the development manager whereby it receives the benefits associated with the purchase of the property on an annual basis and also receives rental income which will be reinvested in real direct property produced by the development manager during the life of the fund less the fees payable to Responsible Entity.

The fund is a capital growth fund with a definitive life of 1 to 15 years. At the end of the 1 to 15 years the real direct property is sold and total funds will be dispersed to investors on a pro rata basis to their original investment. This fund is very different from other funds in that when the fund purchases real direct property of the development manager members and the fund receives all the benefits associated with any purchase of real direct property according to the invention.

These benefits dramatically increase the return to the member investors of the fund. These funds can be separate entities.

Figure 3 consists of a diagram to demonstrate the linkage of all members using the web based management system the subject of this invention.

The right hand side of the diagram shows the manufacturing management of the real direct property product through the web based development management system to manage all the stakeholders in the development process Development Manager licensees,(b) Consultants e.g.

(Architects, Engineers, Town Planners, Quantity Surveyors, Surveyors, etc), (c) The Development Manager Licensor, Builders, Landowners or Funds Managers who are landowners on behalf of investor groups.

The left hand side of the diagram shows the distribution management of the real direct property product through the web based dealer/funds management system to manage all the advisor/investor/purchaser members in the distribution process all licensed advisors The top side of the diagram shows the lending management of the real direct property product through the web based development management system to manage all the stakeholders in the lending process Banks, Originators, Aggragators, Funds, Securitisors, f Credit Unions.

The bottom side of the diagram shows the asset management of the finished real direct property product through the web based development management system to manage all the stakeholders in the asset management process Management Rights operators, Legal Realty systems e.g (real estate sold or managed under the Scottish legal transaction system or other such systems established in other jurisdictions, APSL System Product, Funds Managers, Property Managers e.g. (caretakers, maintenance or rental managers, f Real Estate Agents listing existing product or managing rent rolls.

ADVANTAGES

The advantages of the present subject management process over tradition al management mechanisms are set out in this section.

There is no single developer in the management process and no one party carries all the risk. This introduces significant flexibility to the management process.

Because return on costs is received at the point of settlement of the transfer of title to individual buyers, which also occurs prior to commencement of construction, returns are significantly greater than under the traditional development and management mechanism.

The creation of titles prior to construction adds significant benefits to members purchasing real property. All property sold through the PSX has a requirement for a financial plan to be written by a qualified accountant, financial planner or investment advisor which is not the requirement of any prior art system.

The property development process is managed by an integrated electronic system that has a common database and is to the advantage of members, that is absent in the traditional method.

The elimination of conflicts of interest in the management of real direct property without the need for property developers as are required in the prior art system.

The ability to manage the development of real direct property without the need for debt risk which is currently unavailable in the industry at present.

The ability to operate in a e-commerce environment that will bring down the enormous costs currently associated with the prior art system.

The use of a common database between the development manager, development industry participants of PSX or other similar database e.g.

landowners, builders, suppliers, consultants and consumers, the funds manager, the financial planner or accountant, the asset managers, the financiers and other real direct property industry participants which is not linked under the prior art system.

The management of all industry transactions within the one portal/hub for ease of reporting, management of transactions, creating industry standards, providing a research tool for the industry, providing members with useful information which eliminates the disjointed prior art approach.

Providing members with advantages previously unavailable with prior art systems.

Providing an opportunity for investor members to participate in funds management investments of the invention, previously unavailable under the current system.

Provides all the tools for a total re-engineering of current property development process to the benefit of the industry as a whole.

VARIATIONS

It will of course be realised that while the foregoing has been given by way of illustrative example of this invention, all such and other modifications and variations thereto as would be apparent to persons skilled in the art are deemed to fall within the broad scope and ambit of this invention as is herein set forth.

Throughout the description and claims this specification the word "comprise" and variations of that word such as "comprises" and "comprising", are not intended to exclude other additives, components, integers or steps. The abbreviation PSX is short for, "product services exchange" and is intended to include, "Financial services exchange", "Asset Services Exchange", "Property Services Exchange", "Legal Services Exchange", "Accounting Services Exchange". The phase "Real Estate Mixed Investment Fund" is intended to include residential, commercial, industrial or retail mixed investment fund. The term "Web 19 Based Management System" is intended to include "Development Manager", "Product Manager", "Fund Manager", "Finance Manager", "Asset Manager", "Property Manager", "Legal Manager "Accounting Manager", "Rental Manager", "Management Rights Manager", "Lending Manager", "Broker Manager", "Financial planning Manager", "Risk Manager" or any other business or manager that can be managed by the software.

Claims (43)

1. A web based management system for managing the real direct property industry and the development, lending, dealer/funds and asset management of real direct property including in combination a web server hosting a subscription based portal or hub website, the portal or hub website providing access to websites or email addresses of members, the portal contactable through a universal resource locator by members via a member user system, the web server central processor interfacing with a directory component adapted to enable location of a particular member's web address or website, geographical location or type of property, a database component adapted to store member data and information, a database management component adapted to allow input and retrieval of the data and information, a web browser component adapted to interrogate and provide access to the information and data, a member identification component adapted to qualify a member's access to the information and data, and a direct property product as an individual investment with a title issued prior to construction starting or during construction that is developed by a development manager, distributed by a dealer/funds manager, lent on by a lending manager and is on completion managed by an asset manager wherein in operation, wherein in operation, by logging on to the portal or hub website, and following provided instructions, the qualified member can be connected to a web based manager's website and wherein the development dealer/funds, lending or asset manager software includes an events management module adapted to enable the creation and management of events in respect of new products manufactured by the development manager or existing product available through the asset manager, and wherein there is access to a funds management module that enables the management of first mortgage funds and asset managed funds within the same website.

2. A web based management system as claimed in claim 1 wherein the events management module includes an files management module adapted to manage all events which occur in undertaking a project, the events management module to consist of, risk management events, compliance management events, conflict of interest management events, contract management events, incoming document management events, outgoing document management events, meeting management events, telephone management events, fax management events, Email/Dmail management events, report management events and any other management events required to deliver real direct property product with a settlement occurring prior to the start or the completion of construction and provide the necessary compliance format to meet securities legislation in any jurisdiction.

3. A web based management system as claimed in claim 1 wherein the events management module includes a landowner file management module adapted to link internal managers responsible to the land owner and consultant members providing a service to the landowner to effect a settlement of titles prior to construction starting or during construction,

4. A web based management system as claimed in claim 1 wherein the events management module includes a purchaser/product member file management module adapted to link to a compliance system of internal managers responsible for purchasers, to solicitor members preparing contracts, to finance members providing finance and to financial planners acting for the purchaser,

5. A web based management system as claimed in claim 1 wherein the events management module includes a consultants events management module adapted to link the project with the internal manager responsible to the consultant for the landowner member attached to the consultant and to other consultant members attached to a project,

6. A web based management system as claimed in claim 1 wherein the events management module includes a diary events management module adapted to link all internal managers wherein the managers can be reminded by a diary component typically a text reminder or a computerised voice over reminder of all events,

7. A web based management system as claimed in claim 1 wherein the events management module includes a communication events management module adapted to link all internal managers and external consultants by means of a voice over IP system and a linked remote user module

8. A web based management system as claimed in claim 1 wherein the events management module includes a document events management module adapted to link all internal managers or consultant members and other members involved in a project to a internal filing system wherein access to documents is restricted because of privacy policy and or to those members the information does not apply,

9. A web based management system as claimed in claim 1 wherein the events management module includes a conflicts of interest events management module linked to a risk events management module to continue to remind internal managers of identified risks or conflicts of interest as they arise in a project,

10. A web based management system as claimed in claim 1 wherein the events management module includes a research events management module adapted to link on-line databases and continue to manage new information and data that is relevant for managing real direct property, for example, building prices, sales prices and changes to legislation,

11. A web based management system as claimed in claim 1 wherein the events management module includes a contracts events management module adapted to directly link a project file to track all events, from an expression of interest, the activation of the preparation of formal contracts and the management of deadlines of events relevant to a contract of the purchaser of real property, for example, due dates in relation to deposit bonds, approval of finance, settlement of contract conditions, settlement of land parcels, payment of building deposits, construction draw down payments, lifting of covenants for occupation and final payment, completion of rectification, and any other contractual management task required under due process.

12. A web based management system as claimed in claim 1 wherein the web based management system can be linked to a web based email system that links to the outside world via the normal email systems but operates internally as an internal management system called Dmail that allows Dmails to be filed directly into projects and are available to be viewed by all who have access and wherein all authorized stakeholders are able to create, send, file and view Dmails within a particular project by simply logging on the internet with their membership number and password and access Dmail from within the web based management system.

13. A web based management system as claimed in claim 1 wherein the member system is a computer system with an interactive display means for communication via the Internet.

14. A web based management system as claimed in claim 13 wherein the interactive display means includes a visual display unit with an interactive device, typically a key pad, touch pad, mouse and/or joystick device.

A web based management system as claimed in claim 1 wherein the information and data on the website is presented and accessed by all members online via the web browser.

16. A web based management system as claimed in claim 1 wherein the directory component enables members to be located by their title, name, physical address, locality, post code, discipline or by the type of goods or services provided.

17. A web based management system as claimed in claim 1 wherein the member identification component includes security protocols that qualify and restrict access of the member according to the member's security clearance or access levels and wherein the member identification component comprises a firewall, an access manager and a software router to qualify the access of the member to appropriate application layers of the web server according to the security clearance or access level of the member.

18. A web based management system as claimed in claim 1 wherein member access is via a user name and/or password recognised or rejected by the access manager.

19. A web based management system as claimed in claim 1 wherein the dealer/fund management component includes an accounting function that is interfaced with an externally sourced transaction and record keeping service such as wrap accounts and master trusts which also has the ability to repair and generate relevant accounting and fund management documents and records.

A web based management system as claimed in claim 1 wherein the accounting functions are able to be varied and adjusted via the Internet.

21. A web based management system as claimed in claim 1 wherein the information and data held in the database can be interrogated and can be manipulated to produce various reports via the Internet and wherein the database is a relationable database which is managed by a relationable database management system wherein the members typically include statutory authorities, consultants, builders, land owners, property development managers, members providing financial services, solicitors, insurance providers, financial planners, accountants, ordinary consumers, banks and other financial institutions, fund managers, payroll loyalty program providers, suppliers including building suppliers, property traders, and other entities.

22. A web based management system as claimed in claim 1 wherein the web server also interfaces with a navigation component adapted to provide a virtual display of an ambulatory walk through view of selected projects or properties via the web browser.

23. A web based management system as claimed in claim 1 wherein there is also a project external management module adapted to allow external managers to create projects, create project contacts, create project events, close out project events and effectively manage projects using a remote hand held computer linked via the internet to the server.

24. A web based management system as claimed in claim 1 wherein there is a projects contacts management module as part of an internal management system whereby a projects manager can add a new contact by searching the membership database to identify project participants by name or by discipline.

A web based management system as claimed in claim 1 wherein there is a projects diary management module adapted to function as a diary system that is linked to all events as a diary reminder system utilising text reminders or voice over reminders to automatically remind relevant parties of events concerning a project.

26. A web based management system as claimed in claim 1 wherein there is a diary component available to members to remind members of important events and due dates in the form of text reminders or computerised voice over reminders.

27. A web based management system as claimed in claim 1 wherein there is a project time management module adapted to manage all tasks carried out by internal and external managers, allow for billing rates to be set for each team member of an internal management team and wherein all time spent on projects is tracked inclusive of telephone calls, emails, documents created, events and any other time spent by the internal and external management team.

28. A web based management system as claimed in claim 1 wherein there is a project communications management module adapted to function as a communication centre to manage all email, telephone calls, facsimiles and memos that are created in the course of managing projects.

29. A web based management system as claimed in claim 1 wherein there is a project research management module comprising a research database of information collected by the internal management team as a result of researching and collecting projects.

A web based management system as claimed in claim 1 wherein there is a risk management module adapted to assess all risks within a risk program which are disseminated as risk events to all internal managers as a continual reminder to manage the risk and adapted to track all events created inclusive of architectural drawings and facsimiles, search documents and to create a chronological list of all documents and events that may be required if there is litigation concerning a project.

31. A web based management system as claimed in claim 1 wherein the modules are connected to other software programs eg Microsoft ExcelTM, and Microsoft Project Manager T M and Microsoft WordTM and Microsoft Power PointTM.

32. A web based management system as claimed in claim 1 wherein the development manager system can be linked to or integrated with other external management system through the portal or hub to the benefit of all members.

33. A funds management system utilising the web based development manager system hereinabove described, the funds management system including an on-line prospectus offering to members an opportunity to invest in a residential, commercial, industrial, retail or a mixed investment fund demonstrating a return on investment; the investment fund comprising an asset managed landowner or purchaser fund and/or a first mortgage fund, wherein, investors are offered a capital guarantee for the amount of their investment as a form of security, the asset managed fund and/or first mortgaged fund adapted to divest their funds at a pre-determined time, a first part of the investment fund to offer long term interest only first mortgage funds to purchasers of property, wherein the borrower of the funds will pay annual interest in advance whereby investors will receive annual interest payments less any fees payable to a responsible entity and/or a financial advisor, and wherein the investment fund will provide an income stream greater than current bank interest rate to the investors, the second part of the investment fund adapted to invest in real direct property developed by the development manager whereby benefits associated with the purchase of the property are received on an annual basis and rental income is reinvested in real direct property produced by the development manager during the life of the investment fund less any fees payable to the responsible entity,

34. A web based funds management system as claimed in claim 33 wherein the investment fund provides a loan for 100% of the members borrowing requirement with security taken over the real direct property purchased by the member and extra security is taken over the benefits package exclusively available to the member.

A web based funds management system as claimed in claim 33 wherein the benefit package is reinvested to pay out the principle at the end of the loan period.

36. A web based funds management system as claimed in claim 33 wherein a loan is fixed at an agreed rate for the full term of the loan and does not require principle to be repaid during the term of the loan.

37. A web based funds management system as claimed in claim 33 wherein the second portion of the investment fund is a capital growth fund with a definitive life of 1 to 15 years.

38. A web based funds management system as claimed in claim 37 wherein at the end of the 1 to 15 years, the real direct property is sold and total funds are dispersed to investors on a pro rata basis according to their original investment.

39. A web based funds management system as claimed in claim 33 wherein when the second fund purchases real direct property of a development manager 27 member, it receives all the benefits associated with the benefits of real direct property.

A web based funds management system as claimed in claim 33 wherein benefits dramatically increase the return to the member investors of the fund.

41. A web based funds management system as claimed in claim 33 wherein the first and second portions of the investment funds can be separate entities.

42. A web based development manager's system substantially as herein described with reference to the accompanying illustrations.

43. A web based funds management system substantially as herein described with reference to the accompanying illustrations.