Complex and Sophisticated Estates
Bellrock is a property-related risk manager, helping organisations with complex and sophisticated estates mitigate commercial and operational property-related risks, which have been heightened by increasing regulatory compliance and the recent Covid 19 pandemic.
Are you a complex and sophisticated organisation?
In a post Covid world, traditional considerations are driven largely by legislation and financial failure alongside environmental and cultural risk management. Organisations are being forced to re-think their approach; but how, and to what end will be determined by the complexity of their portfolio and the maturity or sophistication they exhibit in thinking about, and dealing with, their estate risk profile.
Most are re-thinking the purpose of, and footprint of their estate. The most sophisticated are also re-evaluating how, through technology deployment, they can increase their level of estate risk management maturity.
Approach to risk mitigation
Most property owners recognise that property-related risks are increasing. This is, in large part, because of regulatory compliance trends and the global Covid-19 outbreak shining a light on the health, safety and wellbeing challenges of operating in a Covid secure manner.
Customers with complex estates who are more sophisticated in their approach to risk and commercially savvy, recognise that mitigating risks in and between properties through stitching together silo-contracts across compliance, property management and facilities management vendors is inadequate.
Piecemeal approaches are time consuming to manage, and with the lack data integration, owners have struggled to provide value-added insight and peace of mind for the occupiers of the site.
It is unproven that commercially, siloed transactional procurement is cost effective for complex customers (its sole attraction is that it has been done in the same way for many years, historically when the compliance burden was lower).
A technology led holistic approach to estate management will lead to lower costs over time, a safer environment and competitive advantage against those who fail to react to the societal demands in providing safer environments.
Complex and sophisticated estates defined
Complex estates have more buildings, in varying degrees of sizing and needs and are likely to have mission critical activities carried out within them. These require a high standard of delivery and a more comprehensive approach to risk management. As a result, the offering requires more tailoring to deliver a consistently effective solution throughout the estate. Such estates cannot be managed without the use of state-of-the-art workflow management tools and analytics as well as a multi layered approach to supply chain integration.
Sophisticated buyers are concerned with mitigating risks rather than only wanting to deliver a pre-specified set of services. As such, they require a broad set of services to best address them. These customers recognise that estate risk is multi-faceted, from the legislative requirements of PPM to the operational risks of critical asset downtime and the financial risk of poor contract selection and management.
Sophisticated buyers see their estate as a fundamental part of their strategic plan. They recognise the needs of the estate in a post Covid world will require re-shaping, built in a way to leverage the technology available to improve risk outcomes.
How do we assess complexity and sophistication?
Assessing estate complexity and sophistication is an in-depth analysis on the criticality of what occurs within the portfolio and the organisations understanding and attitude towards the risks that persist in managing an estate.