The first step is to define the scope and objectives of your assessment. What are the drivers and challenges that motivate you to review your real estate needs? What are the expected outcomes and benefits of the assessment? How will you measure and communicate them? Who are the key stakeholders and decision-makers involved in the process? How will you engage and collaborate with them? By answering these questions, you can establish a clear and shared vision for your assessment, as well as a realistic timeline and budget.
The next step is to collect and analyze data that can inform your assessment. This includes quantitative data, such as occupancy, utilization, cost, performance, and market trends, as well as qualitative data, such as user feedback, preferences, expectations, and satisfaction. You can use various sources and methods to gather data, such as surveys, interviews, focus groups, sensors, analytics, benchmarks, and best practices. The data should cover both the current and the future state of your real estate needs, taking into account factors such as growth, consolidation, relocation, innovation, and flexibility.
The third step is to identify gaps and opportunities based on the data analysis. This means comparing your current real estate situation with your desired future state, and highlighting the areas where you need to improve, change, or optimize your real estate portfolio. For example, you may find that some of your business units or functions are underutilized, overutilized, misaligned, or inefficient in terms of space, location, layout, design, or amenities. You may also discover new opportunities to enhance your real estate value proposition, such as creating more collaborative, agile, or sustainable workplaces.
The fourth step is to develop and evaluate scenarios that can address the gaps and opportunities identified in the previous step. Scenarios are alternative ways of meeting your real estate needs, based on different assumptions, constraints, and trade-offs. You can use various tools and techniques to create and compare scenarios, such as modeling, simulation, scoring, ranking, or testing. The scenarios should reflect your strategic priorities, goals, and criteria, as well as the feasibility, risks, and impacts of each option.
The final step is to recommend and implement solutions that can best meet your real estate needs. This means selecting the most suitable scenario or combination of scenarios, based on your data analysis and evaluation. You should also prepare a business case and a roadmap that can justify and guide your implementation process. The implementation process should involve regular communication, monitoring, and feedback from your stakeholders, as well as adjustments and improvements as needed.
By following these steps and using these tools, you can conduct a comprehensive and effective assessment of your real estate needs of your business units and functions. This can help you align your corporate real estate portfolio strategy with your business strategy, and create value for your organization and your users.