Bichard RICS Review – one year on

It has now been one year since I released my report into RICS’ purpose, governance and strategy following extensive consultation with members, staff and other stakeholders. My aim for that report was to create a new sense of purpose and direction for the Institution – one that was capable of tackling the key challenges that will shape the way we all live in the years to come. I believed then, and even more so now, that this outcome could be achieved, but that it would require nothing less than a transformation of RICS.

As Senior Independent Governor at RICS, I have been pleased by the way the Institution has taken to this task. It has worked at speed to effectively implement the recommendations from my report, and we are now at a stage where 19 of the 36 recommendations have been concluded. Given the dedicated focus and pace of activity at play, I am confident that the majority of the remaining recommendations will be concluded by the end of the year.

As a result of this work, we now have a fully functioning RICS Board, with Committee Chairs appointed, and a greater clarity with how we assure risk and finance; we have a newly constituted Governing Council, once again Chaired by the President, and with representation from those early into their careers; and, we have a new vision, mission, values and strategy for the Institution, which sets out the importance of RICS’ public interest obligations and its role in upholding standards and advancing knowledge for the benefit of society.

My recommendations are only the beginning though, and creating the lasting change I outlined in my report will require ongoing transformation. As RICS implements its new strategy and values, it is even more important that the leadership of the Institution continues to prioritise the change needed to turn RICS into a world class Institution. The recent appointment of its new Chief Executive, Justin Young, will be critical to achieving this and I look forward to working with him, and the wider leadership team, on implementing RICS’ new strategy and values as I continue my role as Senior Independent Governor until the end of 2023.