Although the effects of Covid-19 on the Corporate Real Estate (CRE) world is yet unknown, one thing is certain – businesses of all sizes who own, operate or occupy a portfolio of properties, or have a strategic property plan in line with their pre Covid-19 businesses plan, are now having to take stock by re-evaluating their portfolio and future plans because of either market forces or a considered change of focus.
Emerald has been pro-actively supporting one of our key global clients for many years in this sector and, through the current pandemic, have been an integral part of the team that is reviewing the effects and impact head on.
Here’s an insight into how having Emerald as integrated support to your team can bring clarity for decision making, reporting and delivery. We have outlined below some of the key benefits of our involvement.
- Make reasoned and informed decisions for your current projects based upon KPIs and metrics. Also use previous project data and benchmarks to help make predictions regarding future project performance
- Consolidate project data into one central system, aligning the inputs across all functions within your business. This not only gives you an overall project portfolio view but also encourages the different functions within your business to ‘speak one language’ and align on input and reporting governance
- Assess the level of investment, schedule timings, resource and risk within your portfolio compared to your annual business planning targets or in order to prioritise investments. Understanding early if targets are not going to be met can enable businesses to reallocate funding or resource to other initiatives/projects
- Utilise the portfolio to plan long term strategies and investments, tied in with your business ambitions and strategic initiatives. Keep track of key dates and timings to ensure that these strategies are being delivered or identify potential future conflicts across your functions.
- Increase the rate of success across your projects by introducing governance and workflows into your processes. Portfolio management also provides the functionality to plan projects based on resource availability, develop scorecards to ensure that key metrics and KPI’s are being met and create vital benchmark data to utilise for future planning, leading to better estimates and schedules.
With our support you can achieve increased success on projects, bringing earlier business value realisation across your portfolio.