Making sure you have the critical data from your estate
Your estate or property portfolio holds significant value and risk for your organisation. It is however in insidious decline and needs to be constantly tweaked and improved to prevent value loss and increased risk. It needs to be managed nimbly in order to take advantage or news trends or legislation that allow you to maximise its potential benefit.
To be able to make sense of these large assets you need up to date critical performance data. This is the management information that allows you to strategically plan the future of your portfolio and critically find value adding and risk reducing ideas. Finding the gap between what you have now, where you would like to go and what needs to be done is the primary reason for a robust estates review.
Helping you to make the right strategic choices
An essential skill in the senior management team is the ability to make the best strategic choices of where to invest or new directions to take. These choices rarely have sufficient information and are often shrouded with ambiguity and uncertainty.
Robust option appraisals are an essential tool for the senior team. They ensure that the starting point and end state(s) are clear, enabling the strategic thinkers to invest their valuable time identifying options and being creative. This can then be followed by systematic and rigorous analysis and evaluation of options. The result being that the chosen path is auditable, defendable and inspiring for others to follow.
Ensuring you have the right people, doing the right things, the right way
In any organization, the role of people is to get things done. In the best organizations, the senior team lead and deploy these people so that they play to their strengths. They play the right people in the right positions doing the right things. They can do this knowing that their systems and managers then ensure that these things will get done the right way.
People thrive with clear goals, governance and reporting and well-structured businesses have a discipline of getting this right, without creating bureaucracy. Most organisations have some sort of chart or hierarchical representation of how they work, but it is often the case that the planned organisation is not followed or distorted. An organisational review allows you to test how smartly you are working in the real world and identifies many opportunities to get the best from you and for your people.
The Rigorous investment decision making process
Business plans and appraisals capture the essence of an investment decision. When done well they are the baseline to which you can always come back and check that the path you are on is still the right thing to be doing. They set out the goals, the metrics of performance and the key risks to be resolved.
Clients that use business plans well rarely lose control of an investment. This is because they check it regularly against progress and are able to see early signs of any issues or risks and act quickly. It allows you to work closely with the finance team to ensure that the delivery teams understand the business intent and do their very best to make sure the benefits are realized.
Systems and Process Planning
Capturing the way you do business now and coud do in the future
Great businesses and organisations have systems that are “appropriate”. They are robust enough to support and direct behaviours and actions, but not to the point of creating bureaucracy that wastes time and effort. You know when you have this right as your people will be positive about the business systems and they will not make basic errors and omissions.
Capturing the way you work, testing it and seeing if it can be improved should be a constant task that everyone does all the time. If people understand why they do what they do, they will contribute with ideas to how this can be improved. Mapping these processes and systems will help you keep the organization lean and fit for the future.
Data extraction and modelling to improve business understanding and performance
Thinking about your business in terms of data and data analysis is hugely rewarding. The closer you can get to a single source of truth the less you are exposed to uncertainty in your decision making. It is great to be in a senior team when all your big questions about your business can be answered quickly and reliably – it gives you confidence.
The key part of this is understanding how data flows in your business. You are trying to capture data, enter it once and use it many times. Every time data is duplicated it runs the risk of degrading and having multiple people doing the same thing, wasting time and money and creating confusion.
Business Management Information
Having reliable information to lead and manage your business or organisation
The best businesses produce a suite of regular management information for use at critical governance meetings. The information is produced, without fail, ahead of the meetings giving all present plenty of time to digest and consider the content. Questions can be asked before the meeting and this ensures highly productive governance.
The senior team are able to then enhance the reporting through its use and it then refines and develops in quality over time. The management information is produced by a few people with minimum effort and ideally automated. Having confidence in the regular reporting then allows the senior team to be more specific about information relating to specific trends, problems or opportunities that they are noticing.