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News & opinion

23 JAN 2019

Setting the tone for change in the built environment

RICS recently convened senior professionals in the built environment to collaborate, discuss and help steer the dialogue on key issues relating to housing, corporate real estate (CRE), construction and facilities management (FM).

The inaugural 'RICS Leadership Forums' were held in Bengaluru and Mumbai, on the 15 and 17 January and attracted some of the largest occupier, developer, consulting and FM firms in India's built environment. These are the first in a series of forums planned throughout 2019.

The importance of change management

The first forum in Bengaluru focused on change management and how integral it is to the success of CRE and FM. The forum hosted large and influential organisations including: Wipro, IBM, Morgan Stanley, Amazon, ARCADIS, Yes Bank, CBRE, JLL, Lowe's, Knight Frank, LinkedIn, Schneider Electric, Colliers and BIAL.

Key insights: Bengaluru

  • For technology to be an enabler of CRE, great design is not enough. Effective implementation relies on appropriate knowledge, skills and competency — and that requires training. Investment in technology means upfront investment for future cost savings, which requires a knowledgeable client and service provider with the right incentives.
  • South Asia is one of the fastest growing economies in the wold. The scale of built environment requirements is large; it is a monumental task to train professionals up quick enough to meet demand. Technology must also help fill this skills gap in the near term.
  • The industry must move to longer-term, whole-lifecycle thinking when it comes to FM budgets and contracts, which have a significant impact on business performance.
  • We must foster the right relationships between occupiers and service providers (whether in-house or third party), and between functions and specialisms. The right level of trust and the assurance provided by professionalism are key to driving a change in industry mindset and the adoption of whole-lifecycle thinking.

Time for facilities management to take a seat at the executive table

Increasingly hypercompetitive markets require businesses to refocus on outcomes and end users like never before. Adaptability in reconfiguring assets, people, and capabilities will allow organisations to maintain momentum in shifting sands. Farsighted companies are placing a premium on facilities management (FM) as a key differentiator to enable that transformation.

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A focus on construction

The second forum in Mumbai focused on the construction sector. Organisations in attendance included: Savills India, Leighton; CEC India, L&T; Synergy Property Development, Shapoorji Pallonji, AECOM, Mahindra Lifespace Developers, Tata Projects and Rohini PMS.

Key insights: Mumbai

  • Standardisation is the right direction for the sector to be heading in. Consistency in delivery across the industry requires consistent standards, the consistent application of those standards, and consistent competency frameworks to ensure professionals have the skills they require.
  • Access to data is critical for transparency, and one of the biggest challenges to the sector is the generation, collection, assimilation and analysis of all the data now available to us. The industry must use what it has better and ensure the right incentives are in place to ensure that data flows to where it is most needed.
  • The industry is not currently structured in a way that enables the best outcomes between project sponsors, service providers and, ultimately, consumers. Education of all parties is needed to spur positive change and tackle fragmentation, siloed approaches and introspective thinking.
  • The industry needs role models (both people and projects). It is important to evidence why change is occurring and document the positive impact it can have. The industry must influence buyers and clients to demonstrate value through relevant case studies, best practice and hard data.

RICS Data Standards

To address the issues of digital data consistency, RICS has developed a suite of Data Standards that work in parallel with our International Standards and Professional Statements, to ensure the quality and consistency of data.

Only a combination of RICS professionals working to RICS standards, coupled with the implementation of RICS Data Standards, can provide data that is both consistent and reliable.

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