HTML Preview Strategic Property Management Plan page number 1.
16 PROPERTY PROFESSIONAL Volume 17 Issue 3
S
trategic Planning is not listed
among the 15 Property Man-
agement Functions. In fact you
may not find the term any-
where near the Property Management
organization policies or procedures.
However it is one of the essential ele-
ments to a successful Property Man-
agement organization.
Eventually all organizations will
face unforeseen problems (reduction of
resources, reorganization, unsatisfacto-
ry conditions etc.). A successful long
range plan is essential in order to
quickly recover and regain control.
What is Strategic Planning? Strate-
gic Planning involves setting goals and
objectives. It involves looking ahead to
future events, either anticipated or
unanticipated. Strategic Planning also
involves reviewing the organization
both internally (resourses, personnel)
and externally (customer, organiza-
tions, etc.).
1
In the remaining article, we will
attempt to provide some examples and
suggestions on how you can apply
Strategic Planning principles to the
Property Management organization.
STRATEGIC PLANNING SUGGESTIONS
1. Know your Organization Structure.
One of the first things you should
consider in developing a strategic plan
is the organization structure and how
the Property Management organization
falls within your company. This may
involve reviewing the organizations
business structure to determine the
potential strengths and weaknesses.
One of the most important factors to
consider is the upper management sup-
port and the alignment of the Property
Management organization. In order to
be successful, the Property Manager
must have executive management sup-
port. Therefore it is very important for
the Property Manager to develop a
good understanding of how the execu-
tive management operates. The main
thought on the organization structure is
to determine how your organization is
aligned in order to increase the maxi-
mum exposure and support from the
alignment.
2. Review the external (customer)
expectations.
Knowing your customer expecta-
tions is in fact one of the keys to any
successful company or organization.
Property Management is no different.
Always strive to know what your cus-
tomer expects, both from a product/
service standpoint and also from busi-
ness interaction (communication). You
should ensure that you have good com-
munication with your customer at all
times, and keep them informed. Some-
times your customer will not have the
latest information. Therefore you have a
responsibility to keep them informed
on internal and external changes. Work-
ing together as Property Professionals is
no longer a necessity, but a must in the
future Government Property Manage-
ment environment.
3. Plan for future events, either
anticipated or unanticipated
It is difficult to plan for the future
knowing that there will be inevitable
unplanned or unanticipated events.
STRATEGIC PLANNING IN
PROPERTY MANAGEMENT
An Essential Element of a Successful Property Management Organization
BY TROY GIPSON, CPPA
ROCKET CITY CHAPTER
Working together as Property Professionals is no
longer a necessity, but a must in the future
Government Property Management environment.