Posted by:
Lee Elliott
Head of Corporate Research, EMEA
As I trundled in on the underground this morning to attend my first ever CoreNet Summit, I took the time (there was inevitably more than scheduled!) to read McKinsey’s latest Economic Conditions Snapshot. It concluded that despite continued economic uncertainty, corporates are more rigorously and diligently planning for the future.
Real estate professionals are undeniably on message here. There was standing room only as my colleague Shelley Frost and three clients – Shell, Pfizer and Cisco – took to the stage to outline the theory and reality of portfolio planning.
Drawing on our recent white paper, Shelley kicked off by debunking some of the myths surrounding portfolio planning and introduced our innovative portfolio planning diagnostic tool. Each client then filled the room with real life experiences.
These experiences showed that the journey towards successful adoption or adaptation of portfolio planning is contingent upon developing a full understanding of and engagement with the business; full and detailed knowledge of the portfolio; an unstinting focus on delivering business relevant value; and gaining the trust of the business to take a leadership position. This journey from an order taker role to a strategic adviser remit is undoubtedly a challenging one. But all speakers were of no doubt about the value that it can bring to both the business and the ongoing positioning of the CRE function.
They left everyone with a clear sense that, as per the old adage and in the new economic reality, a failure to portfolio plan, is to plan to fail the wider business and its workforce.
View more EMEA reasearch on our dedicated blog: From the Roof
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