How can you optimize the ROI of site operations and maintenance activities?

2 Plan and budget your O&M activities

The next step is to plan and budget your O&M activities based on your assessment. You need to allocate sufficient resources and time for each activity, and ensure that they are consistent with your development objectives and standards. You also need to account for contingencies, such as unexpected repairs, emergencies, or changes in regulations. By having a clear and realistic O&M plan and budget, you can avoid overspending, underperforming, or compromising your quality.

3 Implement and monitor your O&M activities

The third step is to implement and monitor your O&M activities according to your plan and budget. You need to ensure that you have the right personnel, contractors, and vendors to execute your O&M activities, and that they follow your instructions, specifications, and contracts. You also need to track and measure the results of your O&M activities, such as the condition, functionality, and value of your assets, and the satisfaction, feedback, and complaints of your tenants and customers. By implementing and monitoring your O&M activities, you can ensure that they are effective, efficient, and compliant.

4 Review and improve your O&M activities

The final step is to review and improve your O&M activities based on your monitoring data. You need to evaluate the performance, impact, and ROI of your O&M activities, and compare them with your benchmarks, goals, and expectations. You also need to identify the strengths, weaknesses, and areas for improvement of your O&M activities, and implement corrective actions, adjustments, or innovations. By reviewing and improving your O&M activities, you can enhance your quality, productivity, and profitability.

By following these steps, you can optimize your O&M activities and maximize your ROI as a real estate developer. Remember that O&M is not a one-time or static process, but a continuous and dynamic one that requires constant attention, evaluation, and improvement. By adopting a proactive and strategic approach to O&M, you can create and maintain valuable and sustainable properties that meet your development vision and mission.

5 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?