Changing Faces

Mumbai Realty organizations have a new face in last decade or so. The focus has shifted from maximizing FSI use through all the Manageable Means to all the Manageable Skills. Not that manageable means have ceased to exist but, they have certainly taken a second row. Credit is not solely to ex-commissioner and CM, it also is to - 1. Prices, 2. highrise trends (during last decade the definition of highrise is not limited to 10-20 floors, it is 50 and above), 3. Technology (not limited to type of shuttering, but also extending to walls, windows, floors, etc.), 4. Organization Structure/ human capital deployment.

When the customer changes, an industry changes. All the above factors depend on each other in some manner. The township/ multiple building layouts/ mixed use layouts have entered wherever they find land required. Marketing is more and more becoming realistic and, realizing increased knowledge of customers in product and finance. Risk is no more limited to permissions. Technology, quality and customer service has gained considerable weight. It is no more a common man business in Mumbai.

Operations obviously has to aligned with larger business picture than just worrying about procedures. It seeps in policies and strategies. Dealing with young heads and, Change management. practically continuously. This leads to a situation that needs more maturity, creativity and, empathy to lead the group and achieve business objectives. Styles and, knowledge have to form a blend that sinks rightly with the premise in totality. Engineering talent is in more demand than what it was a decade ago. Thanks to high rises and, mass housing requiring high control of cost and quality. This also requires relevant change in higher management. 

Project Management at last, has earned respect in real estate. Board is acknowledging difference between Construction Management and Project Management. However, project managers need to be aware of aligning the objectives with business objective and, not distance themselves from the business activities. I would rather blur the line between project management scope and, operations management for real estate at more than one node. Continuous learning and, flexible principles is the key today.