From biweekly phone calls to quarterly reviews, technical meetings in Commercial Real Estate take many different forms. Ultimately, these conversations allow the technical manager to bring the asset manager or landlord representative up to speed on any technical developments in a portfolio including capex and maintenance projects.
The technical meeting is, and has always been an essential part of the operational management of a commercial property. However, with the average technical manager in charge of multiple complex developments it can often prove difficult to gather all the relevant information to present to a client on short notice. This is made more stressful as the majority of this information is stored in personal emails and confusing folder structures on a company server, making it difficult to access. The key to increasing productivity in these meetings and being in control – Technology!
Below we will discuss a few ways technical property managers can make the most of these meetings. But first, let’s look at how things are currently being done.
The Technical Meeting of Today
Typically the technical manager will be required to keep their clients regularly updated and request approval for certain expenditure. While quarterly meetings are understandably not always enough; technical managers spend much of their time answering their phones to, and responding to emails from clients requesting updates for their own forecasts. This often leads to multiple conversations and an immense amount of pressure on a technical manager to produce the necessary information on the spot. As mentioned before, this is not always possible when working with the traditional approach and means that these meetings/conversations become reassurance exercises and quite frankly a waste of time. The conversation often ends with a frustrated asset manager, unable to retrieve the key numbers and information he requires and a technical manager with another ‘to-do’ list.
This no longer needs to be the norm. Using a Procurement & Project Management (PPM) system like Proprli provides technical managers with the tools they need to deliver a best in class service around the clock. Whether in a quarterly meeting that you’ve prepared for in advance, or those uncomfortable on-the-spot phone calls, here are a few ways a PPM system can help you be in control of your technical meetings.
1. Use the Cost Tracker to determine where you are with live budgets vs. actuals on all your projects.
Each project in your portfolio has its own Cost Tracker to help you manage your expenditure. When a client asks you for current budget vs actuals, you no longer have to guess or give an outdated figure. Use the Cost Tracker to immediately present live values such as committed costs and invoices.
2. Use the Milestones programming feature to ensure that the schedule is being followed and all team members are aware of the key dates.
Working on a centralised platform with your preferred suppliers enables you to keep track of key dates such as site visits and planned completion. Making use of the milestones feature is a great way to ensure that all team members, both internal and external are aware of the collective next steps and any contingencies.
3. Use the Maintenance Plan tool to check which maintenance works are coming up.
Never miss planned maintenance work by setting reminders and tracking projects in the Maintenance Plan on the Asset Page. Keeping all relevant information centralised in one environment helps to communicate upcoming developments to clients and stakeholders.
4. Use the Certificates feature to monitor any technical reports or certificates that may be in need of renewal.
Easily manage all technical reports and certificates in a folder on the Asset Page. Set reminders to ensure you renew any certificates or licenses and carry out any corresponding works in the maintenance plan.
5. Use the Bid Comparison to take an in depth look at which service providers to instruct.
Make use of Proprli’s bid comparison tool when discussing any present RfPs to determine the best vendor to instruct in relation to the other bidders. Pay attention to the bidding requirements and any suggestions or exclusions.
6. Export automatic and up-t0-date reports and information in the Q&A to Microsoft Excel to discuss during the meeting.
Download bespoke, automated reports to have all the key facts and figures at hand in important meetings. Spend less time gathering and collating data and more time using it to add value.
Be ready for your next technical meeting…
As the CRE industry enters the digital new age where there is an ever-increasing focus on leveraging data to increase returns, it is important to equip oneself with the proper information and necessary data sets to offer an infallible service, which includes being prepared and proactive in meetings. Technology enables us to remain on top of our responsibilities and allocate our time wisely even on short notice. For the technical manager in today’s market that technology comes in the form of a PPM system.
Get in touch today or request a demo to find out how Proprli can work for you!