Process Re-engineering in Real Estate Development

When looking to understand current processes, as well as designing new processes, it is vital to recognise the roles and responsibilities required. To this end, processes can be flow-charted and then mapped using a RACI chart in order to understand and clarify responsibilities.

A RACI chart (pronounced “racey”) allows for each task step to be identified; then each stakeholder and their responsibilities can be identified. The resulting chart can be scrutinised for opportunities for improvement.

The approach can be particularly useful in a start-up situation when a start-up is considering the range of tasks required, the sequence of execution, who is needed to do each task and whether to deliver in-house or partner of buy in.

Keogh Consulting were recently engaged by a start-up in the real estate sector to help develop and refine their business model and organisation structure. Through several workshops and meetings a RACI chart was developed for each step in the property development and asset management process. This allowed responsibilities to be allocated across each member of the start-up team and an initial list of external design and engineering providers to be drawn up.

The attached document gives an overview of the RACI process with an Appendix detailing a typical RACI chart for a real estate developer to illustrate an approach that can be used.

raci_charts.pdf