Most real estate professionals - including owners, developers and owner’s reps - have adjusted to the new normal of remote work. However, not all of those teams have been able to maintain productivity and momentum throughout the transition.
More traditional project delivery teams that rely on slower, more manual workflows have struggled to keep up. They already suffer from lack of visibility, information silos, decentralized spreadsheets and project data, and the burden of tedious, in-office administrative tasks. Without in-person interactions, these pain points have only amplified, highlighting how disorganized, reactive, and inefficient these teams have become.
So, how have other real estate teams cracked the code on being effective and efficient in their project delivery without a steep learning curve or sacrificing on quality?
We’ve spoken with hundreds of CRE professionals to uncover what has spiked their productivity and how they’ve ensured that working from home doesn’t contribute to project delays. In fact, many of these teams are making better use of their time remotely than in an office setting.
Here’s what we found:
- Centralized Data - Teams often waste half a workday looking for answers to investor’s or client’s questions in varying spreadsheets, filing cabinets, stacks of paperwork or desktop servers. By centralizing all proposals, contracts, change orders and invoices in the cloud and intelligently indexing all key project data-- making it more easily searchable-- an entire team can find and leverage any document or data point needed to make fast, pivotal decisions.
- Increased Collaboration - Accountability is key. Make sure the entire team has visibility into project details and status updates on individual and group responsibilities. Factiliate real-time information sharing across a team to make sure everyone is engaged, involved, and working toward critical milestones without letting anything slip through the cracks.
- Digital Reporting- Keep all stakeholders informed with increased transparency and visibility into project status. Real-time, data-driven updates - instead of relying only on a monthly, backward-looking cost report - enable teams to better manage vendors, set expectations with executive teams or clients, and instill confidence in financial partners.
- Decreased Distractions- Working 12+ hours a day, six days a week is not a recipe for success when 30% of that time is spent on tedious, manual administrative tasks. Leverage automation to eliminate low-value work and concentrate a team’s energy on the strategic direction of a project or portfolio.
These principles may seem simple, but they are the difference between a successful and productive team and one that’s overwhelmed and stumbling to complete their project on-time and on-budget. Don’t let remote work become yet another factor that contributes to the stress of project delivery.
Arm your team with the proper tools and solutions so they’ll be able to produce quality results without feeling overworked, out of touch or behind.
By implementing these best practices while working remotely, teams will feel empowered to work even more efficiently and effectively when they eventually do return to an office setting. The right, tailor-made project delivery tool will even help increase returns and de-risk project delivery without increasing overhead.
See for yourself how automation, data analytics and proactive intelligence will supercharge your productivity and transform project delivery as you know it. Upgrade with Northspyre.