A thoughtful, structured start can make all the difference on a multi-year real estate project. Instead of course-correcting throughout the lifetime of the project - which will slow you down and cost you money - feel prepared and ready to handle any challenges or opportunities you may face. Follow these five suggestions to make sure you’re giving your team everything it needs to successfully deliver your project on-time and on-budget.
- Set up a main database or create an organized process to manage all information and documentation in a single location.
- Secure access to comparative and benchmarking data to ensure you’re making the best decisions when it comes to vendors, partners, and your project’s strategic direction.
- Create a roadmap for all tasks and milestones to track your project’s progress and keep it running on-time and on-budget.
- Establish open, easy communication + info-sharing capabilities with key stakeholders, so no one is left in the dark or guessing on a project's status.
- Design purposeful workflows to ensure your team isn’t overburdened by tasks that will slow them down or detract from the bigger, strategic direction of the project.
These five suggestions are only the beginning. They create a strong foundation on which to build out additional processes and strategies to keep your project on track. Interested in taking the first step to start your real estate project on the right foot? Upgrade with Northspyre.