Mitigating Outsourcing Risk for Integrated Project Management
April 6, 2017
Just like individuals, companies make decisions whether to buy or rent. They evaluate whether to build new, refurbish old, or occupy existing facilities. Offices, factories, and data centers need to be constructed, repaired, and maintained − and decisions to build or refurbish lead to substantial investments.
Maintenance and repair is a constant process regardless of property age. Global enterprises face additional challenges due to a wide variety of local laws, taxes, zoning requirements, and other regulations. Delivering consistent real estate experiences in a global environment is difficult.
Most companies use experts to optimize return on real estate investments. A growing practice involves using Integrated Project Management Services. Integrated service providers can provide a host of services including:
- Construction management
- Property development
- Enterprise facilities management
- Tenant improvement
- Health and safety
- Sustainability and environmental services
- Property acquisition and disposition
Real estate experts perform the services above better and faster than non-experts. However, as with any outsourced offering, there are certain risks that need to be closely managed. Companies manage risks using contracts, however, even the best contracts cannot anticipate every real estate risk.
In this white paper, we explore:
- Using contracts to manage risks
- Optimizing value for all parties
- The defense-in-depth approach to mitigate risk
- Independent contract audits as a final layer of defense
Companies should make internal controls around compliance a high priority. A defense-in-depth approach to risk management, as well independent contract audits, can promote transparency, which leads to enhanced levels of trust and stronger relationships.
Read this white paper now to learn more about mitigating risk, maximizing shareholder value, and contributing to strategic goals.