Portfolio Rationalisation

What are the key drivers for rationalisation ?

The drivers to rationalise your property portfolio/estate can be many and varied but inevitably the desired outcomes are similar; an estate that supports your business objectives and delivers more for less.

The drive may be to reduce the total number of buildings to adapt to the way that work is changing – better technology enables more flexible and remote working, driving down the need for real estate; or that your business wants to reconsider its key office locations?

Whatever the drivers the rationalisation needs to be undertaken carefully, with all options considered and driven from a business needs viewpoint rather than purely estates.

Read about our Strategic Estates Programme delivered within the NHS here.

Engagement with the business is vital

The key to success from the beginning of the process is the engagement with stakeholders from across the business; this ensures that the strategy is evidenced and needs based, supporting also long term buy-in to the process, creating a foundation for the ongoing engagement and change activities. We have worked across many sectors and industries, always starting with engaging with the “C Suite”, the most senior business leaders, to understand the market dynamics and business needs, key location drivers and workforce recruitment and retention before putting our ‘property’ hats on and looking at the bricks and mortar.

Key steps to consider are:-

  • Being clear on the business vision and strategic drivers for rationalisation,
  • Understand the Base Case – where are you are today? consider the property and operational metrics, portfolio performance and key business issues experienced,
  • Understand and articulate the future business needs – change, workforce, location, customers,
  • Develop what the workplace needs are to be; demand profiling leading to the Statement of Requirements,
  • Option development and evaluation; thoroughly test scenarios from an operational, portfolio and financial perspective,
  • Recommendation development including detailed business impact assessments (Cost, client, workforce, operations, community etc.),
  • Engagement with key stakeholders throughout the strategy development,
  • Business Case development, assurance and approvals stewardship,
  • Create a detailed implementation plan for delivery, considering activities associated with the portfolio, organisation structure and workforce.

The process may seem arduous but a rationalisation strategy planned along these simple guidelines will mean that it is robust, clearly understood and supported by the business and that the impacts are known and can be managed.

We’d always recommend looking at this holistically and our team of professionals have both considerable client side and consultancy side experience of the process from the very earliest stage of an idea being created right through the process and overseeing delivery on behalf of clients too.

Click here for further details regarding our client experience.

The Results Were Amazing

Now we are nearing completion of the fit out and move to the Cottons Centre, I wanted to express my thanks.   I feel we have been very much a team with a strong focus on delivering a quality end product, both in terms of the building and helping Network Rail staff to embrace a change in working practices. I am proud of what we  have achieved.

Jayne Hemingway, Network Operations Lead, Network Rail

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