Property Management
Owning or occupying property is a 'means to an end' but it needs to be part of one's business strategy and business plan. Why? Well, because it can make a tangible difference to the 'bottom-line'.
Delivering Property Management: Robert Chapman & Company
The most common problems faced by organisations (of whatever size) in preparing property strategies are:
- Lack of time set aside to prepare the strategies
- Inadequate or incomplete data
- Lack of Senior Management and Corporate Body involvement in their preparation
- The strategy viewed as a task to be completed rather than as an on-going process
- Reluctance to examine options (think the unthinkable) and carry out formal option appraisals
Without good robust data all else fails. The task of collecting estate data can never be under-estimated. It needs time and determination especially if information is sparse on condition elements, health and safety matters or DDA. This may require surveys to be commissioned. However property condition is a core component of property data and an inherent characteristic of the estate.
The very process of improving estate data will enhance property management and strategic thinking because it forces problems to be addressed. The process of acquiring information can act as a catalyst in producing performance indicators and their use. Performance indicators vary for different organisations: some are non-existent, some are likely to be common such as property running costs per square metre, space per person, backlog maintenance etc. However if there is a will to get to grips with property and understanding its’ impact on the business then key indicators for improvement will be important.
The property strategy is central. A simple format can be based on:
- The present circumstances (the base data)
- The drivers and objectives
- The gap (problems and weaknesses and opportunities to deal with them)
- The options
- Evaluation of options
- Implementation plan
- Time span
A simplistic description of a strategy is:
- Where are we now?
- Where do we want to get to?
- How are we going to get there?
If you require assistance in formulating a property strategy - by way of a property audit - which will make a difference to the bottom line then click here.
For examples of Property Management, click here.
For examples of Project Management, click here.