What's your process for defining corporate real estate project goals?

1 Understand your needs

The first step in defining your CRE project goals is to understand your current and future needs, both from a business and a user perspective. This involves conducting a thorough analysis of your existing space, operations, workforce, culture, and strategy, as well as identifying any gaps, challenges, or opportunities for improvement. You can use various tools and methods to collect and analyze data, such as surveys, interviews, focus groups, benchmarking, audits, and assessments. The goal is to gain a clear picture of your current situation and your desired outcomes.

2 Define your scope

The next step is to define your scope, which is the extent and boundaries of your project. This includes specifying what you want to achieve, what you need to do, and what you don't need to do. Your scope should be aligned with your needs, as well as your strategic objectives, priorities, and constraints. You should also consider the feasibility, viability, and desirability of your scope, and how it will impact your stakeholders, processes, and systems. A well-defined scope will help you avoid scope creep, which is when your project expands beyond its original parameters.

3 Set your budget

The third step is to set your budget, which is the amount of money you have or can allocate for your project. Your budget should be based on realistic estimates of the costs and benefits of your project, as well as your financial goals and limitations. You should also account for any contingencies, risks, or uncertainties that may affect your project. A well-set budget will help you control your expenses, optimize your resources, and measure your return on investment.

4 Establish your timeline

The fourth step is to establish your timeline, which is the schedule and duration of your project. Your timeline should be based on the scope and complexity of your project, as well as your availability and capacity. You should also factor in any dependencies, milestones, deliverables, and deadlines that may affect your project. A well-established timeline will help you plan your activities, coordinate your tasks, and monitor your progress.

5 Identify your success criteria

The fifth step is to identify your success criteria, which are the standards and indicators that will measure the quality and performance of your project. Your success criteria should be aligned with your scope, budget, timeline, and needs, as well as your expectations and requirements. You should also define how you will collect, analyze, and report data, and how you will evaluate and communicate results. A well-identified success criteria will help you ensure your project meets or exceeds your goals.

6 Review and refine your goals

The final step is to review and refine your goals, which are the specific and measurable outcomes that you want to achieve with your project. Your goals should be SMART, which stands for Specific, Measurable, Achievable, Relevant, and Time-bound. You should also make sure your goals are consistent, coherent, and comprehensive, and that they reflect your vision and values. A well-reviewed and refined goal will help you focus your efforts, motivate your team, and celebrate your achievements.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?