Execution management in real estate companies
Sami Abdulaziz
<a style="color: #ff0000;" href="https://amlak.net.The major real estate development companies mainly depend on the confidence of customers in the projects and models of units, accuracy in delivery dates and adherence to technical specifications, and perhaps one of the most important elements of the success of the work system is the presence of an implementation management that knows what to do and is able to face the challenges and overcome crises that may not have been the fault of the company in their sudden occurrence, such as the Corona pandemic, which caused a complete stop to international trade movement and transportation of raw materials, equipment and tools needed by projects to comply with the delivery dates specified in contracts.
The most important reasons for the success of implementation management in real estate development companies are: - Establishing an accurate project implementation schedule.
Define the initial phase of implementation to allow for full completion (buildings, facilities and services).
<Receive detailed maps from the Engineering Department indicating the site design, buildings, different areas of the units and specifications.
<Coordinate with the company's procurement department to supply materials, tools and equipment in an appropriate period before the start of implementation.
<Coordinate with the Finance Department to provide the necessary funds to pay the obligations of contractors, suppliers, labor wages, etc.
Directing the company's sales department to limit sales to the units of the first phase until it is confirmed that the company is able to implement them on time. Organize the work on site.
Organizing the work within the site so that there is no overlap between different disciplines (concrete pouring, wall construction, masonry, plumbing, electricity, etc.). How many projects stalled?
How many projects have faltered, and how many companies have gone bankrupt due to the lack of a vision consistent with the data, capabilities and competencies available to the company. Some company owners" greed.
The greed of some company owners and the hurry to achieve profits makes them allow the sale of units regardless of their location on the project land, and in the event that unforeseen matters occur and the sale stops, the company finds itself in an impossible situation and is required to finish the entire project while the sales have not exceeded the 10% ratio and what the company received from contract advances is not enough to finish the project. Finally, the board of directors of the project is not enough to finish the project.
Finally, a board of directors with a vision and an implementation department that realizes this vision with accuracy and commitment, the elements of the success equation are complete.
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