OPERATIONAL EXCELLENCE
Business Challenge
You have a successful and growing business but the pace to keep running efficiently is stretching your team. Deadlines are being met but only because of heroics - there has got to be a better way.
Effect
You and your team have a long list of improvement ideas but getting to them is another story. Resources are limited and you can’t continue to add work to the existing team members. You are committed to finding a solution before bigger problems emerge.
LPA Solution
Leveraging LPA’s expertise and working with your team, we will assist you with:
1. Identifying areas for focus
2. Cataloging and prioritizing your improvement ideas
3. Streamlining your existing processes or implementing new ones
4. Documenting your policies and procedures.
Not all improvement ideas are created equally. Having clear prioritization for each will help you and your team focus on those that provide the largest business benefit and enable you to be comfortable with delaying those further down on the list.
Having the confidence that your day-to-day operations are in good shape frees you to focus on growing your business – winning the next investment, lease or development opportunity without distraction.
Example
CapEx Budgeting Process
Situation: Multi-property owner wanted to improve upon its approach to budgeting for capital expenses which was heavily influenced by prior year expenditures, per square foot averages and the individuals in the process resulting in uneven property allocations.
Action: Realigned process to be property based, including criteria to be evaluated – i.e. life safety, units back into service, preservation, tenant experience, expansion. Built template for scoring and calculating the costs by criteria, property and the portfolio as a whole, highlighting outliers requiring additional investigation & discussion. Ensured cross-functional input - property management, finance, asset management and facilities in identifying individual property needs and timing requirements.
Results: Clear rationale for spend and ability to prioritize based on property-specific needs. Ability to quickly adjust projects based on budget availability. Moved the process from a tactical view of the current year to strategic multiyear view enabling long-term planning.