Last updated on Jun 20, 2024

Here's how you can effectively set realistic deadlines in Corporate Real Estate.

In the fast-paced world of Corporate Real Estate (CRE), setting realistic deadlines is crucial for the success of any project. Whether you're dealing with construction, lease negotiations, or property acquisitions, understanding how to manage time effectively can make or break your endeavors. It's about balancing the urgency of deadlines with the practicalities of real estate processes, which often involve multiple stakeholders and complex transactions. By setting achievable goals, you can maintain a reputation for reliability and professionalism in CRE.

Key takeaways from this article

Scope comprehension:

Diving deep into the project's scope helps set realistic deadlines. Break down tasks, assess the time needed, and anticipate hiccups. It's like a roadmap; the better it's charted, the smoother your journey in Corporate Real Estate will be.
Prioritize wisely:

Sort tasks by urgency and impact to manage your time like a pro. Tackle crucial items first to hit major milestones and keep your project humming along. It’s like juggling—keep your eye on the balls that matter most!

This summary is powered by AI and these experts

1 Understand Scope

To set realistic deadlines in Corporate Real Estate, you first need to thoroughly understand the scope of your project. This means having a clear grasp of all the tasks involved and the time they require. Consider the scale of the project, the resources at your disposal, and any potential roadblocks that could arise. This comprehensive understanding will enable you to break down the project into manageable segments and set timeframes that are challenging yet achievable, ensuring a smooth progression from start to finish.

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Jyoti Pal

Management Consultant
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To draft/ commit deadlines to the client one should thoroughly understand the scope, and analyse the amount of resource and time needs to be invested. This is the basic understanding that one should possess while taking up any project.

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Luis Fernando Gardel Deak

Lawyer | Digital & Commercial Real Estate Broker | MBA | LGPD committee member
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Fundamental a compreensão em detalhes do escopo do projeto. Entender as cadeia de necessidades da empresa vai dar maior velocidade na condução geral do projeto, reduzindo esforços, custos e prazos. Invista tempo e recursos, engaje o cliente e parceiros nesta etapa. É um tema complicado pois o mundo está muito arisco e as empresas tem medo de perder o negócio. O contato pessoal é vital para a correta evolução do projeto.

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2 Consult Experts

Consulting with experts in various fields related to Corporate Real Estate is an essential step in setting realistic deadlines. These professionals can provide insights into the duration of specific tasks based on their experience. For example, a construction manager can estimate building timelines, while a lawyer can advise on the legal aspects that might affect the project's progress. Their expertise will help you to anticipate potential delays and incorporate a buffer into your deadlines, safeguarding against unforeseen issues.

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Jyoti Pal

Management Consultant
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If some part of the project, is not known, then its always better to take advice from the expert of that particular section, before promising any timeline, also this might change project fees and resources required. For example, if a project demand technical expertise from a structure designer, then this should be clearly communicated to client and after approval should proceed with the detailed discussions with the expert.

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3 Prioritize Tasks

Effective deadline management in Corporate Real Estate involves prioritizing tasks according to their importance and urgency. Determine which tasks are critical for the progression of the project and which can be deferred if necessary. This prioritization allows you to allocate resources where they are needed most and adjust your timelines accordingly. By focusing on high-priority tasks, you can ensure that key milestones are met and that the project remains on track.

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4 Monitor Progress

Continuous monitoring of your project's progress is vital for meeting deadlines in Corporate Real Estate. Establish regular check-ins to assess whether each phase is on schedule. If a task is lagging, investigate the cause immediately and adjust your plans to compensate. This proactive approach to project management will help you to identify potential delays early on and implement corrective actions before they can impact your overall timeline.

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5 Communicate Clearly

Clear communication is paramount when setting deadlines in Corporate Real Estate. Ensure that everyone involved in the project understands the timeline and their responsibilities. Regular updates can help maintain momentum and commitment to the schedule. If adjustments to the deadlines are necessary, communicate these changes promptly to all stakeholders to minimize confusion and keep the project moving forward effectively.

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Mark J. Hamilton

Mortgage Industry Executive | Sales, Marketing, Recruiting, Mortgage, Management
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Communicate with all parties at least once a week. Even if you don't have any real update you should still send an email letting them know their transaction is important and that you are on top of it. Under Promise and Over Deliver. I find it useful to give time frames that are longer than you expect them to be. Then beat your own timeline by delivering early. Never close ugly. No matter what you've done during the process, if the close isn't smooth the only thing they will remember is how you messed up the close.

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6 Flexibility Matters

Lastly, while it's important to set firm deadlines, flexibility can be equally crucial in Corporate Real Estate. Be prepared to reassess and adjust your timelines as the project evolves. Market conditions, regulatory changes, or other external factors may influence your project's progression. By allowing some leeway in your deadlines, you can adapt to changes without compromising the overall success of your real estate endeavors.

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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?

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Gilad Lev-Shamur

Regional Group Manager, Intel Global Real Estae Operations & Workplace Services ( GROW)
(edited)
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You can do it in many ways. Nothing compares to the experience of yourself or an expert. Do not forget the good old Parkinson's law "work expands so as to fill the time available for its completion".

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Jyoti Pal

Management Consultant
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It is always better to be flexible and should communicate the deadline, considering the additional buffer time of revisiting the presentations and numbers once more and also including the time you need to prepare yourself for presentation.

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Here's how you can effectively set realistic deadlines in Corporate Real Estate.

1

2

3

4

5

6

7

1 Understand Scope

2 Consult Experts

3 Prioritize Tasks

4 Monitor Progress

5 Communicate Clearly

6 Flexibility Matters

7 Here’s what else to consider

Corporate Real Estate

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Here's how you can effectively set realistic deadlines in Corporate Real Estate.

1

2

3

4

5

6

7

1 Understand Scope

2 Consult Experts

3 Prioritize Tasks

4 Monitor Progress

5 Communicate Clearly

6 Flexibility Matters

7 Here’s what else to consider

Corporate Real Estate

Rate this article

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