Real estate development management. Textbook

Real estate management: from strategy to tactics, from tactics to operational tasks. Property management model.

The operation of the property management system covers three levels: strategic, tactical, operational.

Strategic – goal-setting. Within its framework, the goals of the long-term development of capital, the procedure for interaction of the highest center of competence with the owners of capital are determined, and contradictions between labor and capital and the owner of capital are resolved. A strategy plan is being developed and implemented

Tactical – design and normative. Here, the strategic goals of the enterprise are decomposed and the tactical goals of the enterprise are specified, resource standards are formulated, plans and budgets for their effective use are developed, and the demand for promising types of products is determined.

At the operational-executive level, tactical goals are decomposed, planned tasks and production schedules are developed, a systematic analysis of information is carried out, and targeted implementation of resources is carried out by combining living and materialized labor in space and time.

The relationship between the main levels of strategic, tactical and operational real estate management can be traced according to the diagram shown in Figure 3.2

To be successful, a management company must always focus on the market; it must determine its boundaries and establish control and regulation of a portfolio of assets that correspond to this market. At each level of the triangle, different questions can be answered. At the strategic level, it can be determined what goals the organization wants to achieve in accordance with the development of market relations.

The strategic triangle is also the basis for the management/leadership concept of a real estate organization. This means that all actions at different levels of management must be well coordinated with each other and at the same time collectively correspond to the set strategic goals.

The model is presented in the form of a triangle, which in turn is divided into several smaller triangles, grouped at three levels: strategic, tactical and operational. These three levels represent three levels of management, each of which has its own goals and scope of activity.

At the top of the triangle is the strategic level, where goals and objectives are determined. Key (main question): what do we want? Goals are usually defined by answering the following questions: What do we want to achieve over a long period of time? what do we want to achieve? What kind of clients do we want to work with? We formulate our objectives by solving the following questions: what level of profit do we want to achieve? What level of risk can we afford or be willing to bear in order to achieve a given level of profit? What minimum annual income can we afford in order to ensure the very existence of the management company’s business?

The content of the intermediate level consists of managing tactical tasks. This level of management answers the question: what can we do? Every strategy requires financial and administrative means to implement it. The tactical level addresses issues such as financial management (raising funds and controlling cash flows), creating a structure to ensure effective asset management, monitoring changes in market conditions, and so on. The following questions arise here: do we have sufficient internal funds to finance the desired real estate portfolio (changes in it); do we have access to external funds for this? Do we have sufficient management capacity to monitor the project and maintain it in good condition? Do we have an information structure that allows us to monitor the market and make timely decisions? The task of real estate management at the tactical level is not simply to manage the real estate itself, but also to organize the business in such a way that it allows you to carry out the intended strategy.

The lowest, but extremely important level is operational. It is closest to end consumers and, therefore, to the market. This level of management is basically concerned with the question, how can we achieve our objectives? How to keep property in good condition, ensuring a level of quality that meets market demand? How do we communicate with our clients? etc.

One of the main economic methods used at the level management company is planning. It involves making decisions in advance, that is, what should be done, who will do it, who will be responsible for the result obtained. It can be argued that planning establishes a connection between the existing state of affairs and the one to be achieved. It makes it possible to realize the opportunities provided and minimize future risk. The place of planning among other management methods is determined, firstly, by the fact that the results of planning directly determine the content of other management functions, and secondly, by the fact that it is at this stage that the goals of the enterprise are formed and the means of achieving these goals are determined. Thus, the purpose of planning is to simplify the achievement of enterprise goals by:

eliminating the negative effect of external and internal environment project;

focusing managers' attention on the main management tasks;

achieving effective management through optimal resource allocation;

facilitating organizational, motivational and control activities of management.

The general process of planning an organization's activities can be presented in the form of a diagram.

Different plans are developed to achieve different goals. Depending on the goals they serve, the following types of plans can be distinguished: strategic, tactical and operational.

Strategic plans (long-term) are drawn up for 5-10, 10-12 years; they reflect global goals and the main stages of their achievement. These plans do not specify methods for achieving management goals, but only determine the general policy and general direction of management activities, set priorities and allocate available resources. They must take into account the state and development prospects external environment, as well as its own advantages and disadvantages, that is, the internal environment of the project.

Operational plans (short-term) - are current in nature, they are developed for various calendar periods up to one year inclusive. The plans' indicators are extremely specific. If strategic plans answer the question: “What do we want to achieve in the future?”, then operational plans answer the question: “How to achieve our goals?”

Tactical plans (medium-term) serve to link strategy and operational activities; they are drawn up for 3-5 years and cover all main aspects of project management activities (production, marketing, finance, personnel, research and computer research).

Planning allows you to:

improve coordination of management activities;

take into account rapid changes in the external environment;

realize favorable opportunities for the project;

improve information exchange in management;

optimally allocate resources;

strictly define the duties and responsibilities of management participants;

stimulate better performance of work by employees, greater validity of decisions made by managers, and their implementation;

improve management control.

The planning process is a tool to facilitate adoption management decisions. There are four main functions management activities as part of the planning process: resource allocation, adaptation to the external environment, internal coordination and organizational strategic foresight.

Resource allocation involves the allocation of scarce organizational resources such as funds, management personnel, and technological expertise.

Adaptation to the external environment covers all actions that improve the organization's relationship with its environment. Organizations need to adapt to both external opportunities and possible threats, identify relevant situations and ensure that strategy is effectively adapted to environmental conditions. Planning for successful enterprises allows you to create new opportunities through the development of better production systems, through interaction with government and society at large, and so on.

Internal coordination is the coordination of an organization's activities, taking into account its strengths and weaknesses in order to achieve effective integration of internal operations in organizations, large or small, and is an integral part of the activities of managers.

Consciousness of organizational strategies involves systematically developing the thinking of managers by creating an organization that is able to learn from past strategic decisions. The ability to learn from experience allows an organization to adjust its strategic direction and improve professionalism in the field of strategic management. The sustained success of organizations is driven by management's continued commitment to learning from past experiences and anticipating the future.

Today, organizations have to achieve their goals in a dynamic, changing and uncertain environment. A belief system that allows an organization to achieve its goals in a dynamic, changing and uncertain environment is called the concept of strategic management.

Reflections on the future of the project, strategy and business plan solve similar problems, but do this only with varying degrees of detail and formalization.

In modern conditions, a business plan is developed mainly for the purpose of obtaining financing. However, fairly large investors are gradually beginning to come to the conclusion that the qualified preparation of a concept plan and business plan is a necessary condition for effective project management.

The investor clearly understands that if you cannot make a normal business plan, then you will certainly not be able to start a business.

The concept plan and business plan are a product of internal activities, although the consumer is most often external counterparties: investors, creditors, business partners.

Conditions under which the developed concept plan and business plan can be considered untenable:

“deafness” of Russian managers to key issues to key issues of project management, including management as one of the first, if not the first guarantee of the profitability of the enterprise (this attitude arises due to the denial of the old directive planning, and the strong conviction that someone must give money: not the state, so foreign investor); they say “We need money, not a business plan”;

the lack of a methodology for working with a business plan turns it into a museum value, a historical relic the very next day after its creation;

lack of preparation for working in foreign markets, lack of a minimum audit of the consultant you are working with, and the presence of the euphoria of easy money.

Work on business planning and attracting financial investments are not simple projects; they require a position and knowledge of the subject.

Strategic management involves the collection and analysis of strategically important information, the development of a strategy, its translation into a specific program of action, followed by the organization of controlling.

Property management is based on the construction of a management strategy. The property management strategy should be understood as the correspondence between the characteristics of the property and those opportunities that determine its position in the market and in the real estate portfolio.

The main point of the strategy is to indicate to the organization a reliable course of property management in the existing conditions. When an organization has strong confidence in its actions, it tends to achieve very good results. With the adoption of a real estate management strategy, the main problems are removed, and people, having decided on the main thing, instead of discussing the choice the best option use of real estate pay attention to details - specific measures to improve management efficiency, customer service, planning income and expenses of the property. Thus, the adopted strategy eliminates uncertainty in management, ensuring its regularity and controllability. In this sense, it is akin to a theory that simplifies and explains the world and facilitates the timely adoption of adequate management decisions. The managerial validity of a management strategy is a factor through the prism of which all possible options are passed through. Moreover, it has two components – compliance of the strategy with the owner’s goals and available management resources.

Every manager who thinks about strategy must be a bit of a philosopher. Thanks to this quality, he overcomes two significant obstacles that constantly arise in management, especially in strategic management. The first is the limited information field in which decisions must be made, the second is the so-called chicken and egg problem, when it is not clear where the beginning and end of strategy development are.

However, there is a sequence of steps in the process strategic planning, where everything has a strictly defined place (Figure 3.3).

Figure 3.3 Model of strategic planning and management

In the model of strategic management of a real estate property, three main stages can be distinguished:

assessment of factors shaping management strategy;

formation of a facility management strategy;

assessment and implementation of facility management strategy.

At the first stage of strategic planning, an analysis of the business “today” is carried out - these are strategic diagnostics, SWOT analysis, a series of examinations, marketing research of the project’s market environment and monitoring of the external environment. At the next stage of the procedure, it is necessary to distribute planning functions between departments, draw up a program of activities (who should do what and when), a budget system for a given period (who should do what, when and how much it will cost) (Table 3.2.1).

Table 3.2.1 – Distribution of strategic planning functions between company divisions

In practice, this ideal framework does not serve as a rigid guide, but rather as a guide to support the iterative process of strategy development. So you can first formulate a strategy based on intuition, and then engage in analysis, and not in full, only financial. Then clarify the strategy, model the business “tomorrow” and develop a transition program. In the next iteration, marketing research may be included in the analysis block - and again moving in a circle.

More detailed content of the stages of the presented model is given below.

Gradefactors shaping management strategy

Many factors influence the determination of a company's strategy. The interaction of these factors is specific to each industry and company and always changes over time. The main emphasis in building a real estate management strategy is on assessing external and internal environmental factors. The first includes the current state and development trends of the real estate market, existing regulations, the second - the condition of the property and available management resources. The choice of strategy for using a real estate property is determined by the ability of the market to accept this strategy, the possibility of implementing this strategy in terms of the potential of the location of the property, legislative permission, technical condition of the property, economic and managerial feasibility.

Real estate market monitoring and analysis

An analysis of the market's ability to adopt a particular real estate management strategy is carried out to determine how much a particular strategy fits into the nature of supply and demand in the real estate market.

For this purpose, within the framework of the servicing concept, research (analysis) and monitoring of the real estate market are carried out. Research (analysis) of the real estate market is an independent type of activity aimed at providing objective information to decision-makers on carrying out certain operations on the market. During this analysis, the location (situs) of the property, the nature of development and the state of the regional economy, the supply of commercial real estate, possible competitors and competing objects, etc. are studied. Thus, the ratio of supply and demand for commercial real estate is assessed and a conclusion is drawn about the feasibility of an appropriate property management strategy.

Market research can be carried out for various private purposes and represent an element, a stage of other types of activities:

marketing research to promote the property on the market;

investment activities in order to assess the effectiveness of investment decisions;

analysis and forecasting of market development trends - to develop strategic decisions for business development.

Thus, depending on the goals of the analysis, the following areas of studying the real estate market can be distinguished:

Analysis of the price situation in order to determine the average market rental rate by type of real estate.

Analysis of market conditions, determining the volume of demand and supply of rental services for commercial real estate, trends and dynamics of market development.

Marketing market analysis to determine the most effective measures to promote a property on the market.

Market analysis to determine the market value of a property.

Analysis of the effectiveness of real estate investments in order to determine the most profitable investment options.

In turn, each area of ​​market research involves solving a number of subtasks.

The diagram shown in Figure 3.4 gives an idea of ​​the scale of the work required.

Each market research task can be solved independently or in mutual connection. The essence of the connection is that some of the stages are common to several directions and some directions use the results obtained by others. The most typical example common task- assessment and forecasting of the price situation in the real estate market. It is key in the entire market analysis and is highlighted in the first direction. At the same time, when forecasting prices, it is necessary to know the trends in market conditions, that is, use the results of the second direction. Further, when analyzing and forecasting the state of the market, marketing efficiency, profitability and cost of real estate, investment efficiency, the results of the first direction are necessary.

As part of the servicing concept, market analysis and monitoring should be carried out on an ongoing, targeted basis. This requirement is dictated both by the specifics of the real estate market, which is undergoing constant changes, and by the variety of tasks in its study. Under these conditions, serious market research cannot be carried out spontaneously, from time to time.

Studying the almost century-long history of the functioning of real estate markets in developed countries of the world, we can come to the conclusion that insufficient attention paid to the quality of analytical work is one of the main reasons for most major crises in real estate markets. A typical example is the crisis in the US real estate market in the late 80s and early 90s. As experts note, excessive and disorderly investment in new construction has led to an oversaturation of the market and, accordingly, to a lack of market demand for a large number of projects for which loans were issued. At the core of this situation were unrealistic market expectations stemming from poor analysis incentive structures, weak analysis methodology, and incomplete data describing current conditions. Considering the prospects for the development of the real estate market in Russia, we can assume that the absence of potential crises is an overly optimistic scenario. However, the consequences of such crises may be less significant if today, at the stage of active market development, some general principles and requirements for analytical research are formulated and introduced into everyday practice, on the basis of which investment decisions will be made. Not only the threat of crises, but also current everyday problems - increasing competition, decreasing opportunities for obtaining short-term excess profits, the beginning of the implementation of long-term and capital-intensive commercial real estate development projects, the entry of foreign investors into the market with high demands for substantiating decisions, etc. - objectively indicate that the importance of qualitative analysis in the Russian real estate markets will in the near future become increasingly important. (Tarasevich E.I. Fundamentals of methodology for analyzing the real estate market // Problems of real estate. Scientific electronic journal. - 1999. - Issue. 3. - p. 3-4.)

Individual firms that consider renting out temporarily empty premises as a side activity may from time to time turn to collecting information about their competitors, demand for commercial space, etc., that is, solve separate subtasks of real estate market research. But a high-quality and comprehensive solution to the entire range of market analysis tasks is possible only within the framework of a large organization. Only commercial companies for which information and analytical business is the main one, or specialized information and analytical divisions of large companies operating in the real estate market can afford to create complex research tools that must be operated by highly professional analysts.

Formation of a facility management strategy

After the factors shaping the strategy have been analyzed, the period of direct creation of a real estate management strategy begins.

The formation of a real estate management strategy is a creative process that is difficult to formalize; here, more than anywhere else, the role of the company’s founders and its top management is great.

However, there are a number of points worth paying special attention to. Experience shows that in the process of determining a property management strategy, it is necessary to clarify the following issues:

choosing the best and most effective option use of the property;

determination of the subject of real estate management;

identifying the main elements of a marketing strategy;

determining the place of the property in the company’s product and market strategy.

An enterprise by definition is property complex, intended for entrepreneurial activity Therefore, a business can be assessed as a set of assets; the financial results of operations and the value of the business as a whole ultimately depend on the effectiveness of asset management.

K = FA + NFA = SK + ZK

Where, K is capital; SK - equity capital; FA - financial assets; NFA - non-financial assets; ZK - borrowed capital.

The tool for analyzing financial and economic activity is economic accounting, which allows a comprehensive assessment of the value added of a business and its impact on the financial and economic state. The peculiarity of this accounting is that assets in monetary and non-monetary form have their own and borrowed components, and equity and borrowed capital have monetary and non-monetary forms.

Table 1. Capital structure

The most important condition for managing the financial component of capital is that expenses should not exceed income, which ensures high level own capital, its economic growth, zone of financial stability, adequacy of own capital in cash and solvency in cash.

The property complex of an enterprise, consisting of land plots, real estate, equipment and other means of production, in contrast to financial assets, has not only quantitative, but also qualitative indicators of its components, and the efficiency of use of property determines financial results activities of the enterprise. Since the property complex determines fixed costs, on the one hand, and on the other hand, the operation of production facilities is a condition for the development of production, the optimal composition of the property complex and its effective use (increasing the production capacity utilization rate) have the most significant impact on profit. The main requirements for property complexes are:

• high profitability when using;
• sufficient resistance against production and other risks;
• not too high capital intensity of production facilities;
• low maintenance costs;
• flexibility and adaptability in use.

Failure to comply with these requirements is often the cause of a crisis, which emphasizes the dominant role of developing a competent strategy for managing the property complex of an enterprise. The deterioration of his condition is realized according to the following scheme:

Not enough effective management assets and accounts payable enterprise leads to insolvency, infringement of the interests of owners and creditors. The main cause of the crisis is the inconsistency of financial and economic activities with changing parameters environment. This is usually due to an incorrect strategy, inadequate business organization, and poor adaptation of the business to the requirements of the market (external environment).

Features of developing a strategy for managing a property complex include taking into account two important points:

• the determining role of the condition and use of the property complex on the results of the financial and economic activities of the enterprise as a whole;
• dependence of the choice of strategy for managing the property complex on the results of financial and economic activities.

In the theory of financial management, the most characteristic are four groups of the financial and economic state of the enterprise:

• severe (crisis);
• tense;
• satisfactory;
• good.

In turn, each group of financial and economic status determines general and private strategies, including those for managing the property complex. For rate current state and developing a strategy, an express analysis of the enterprise’s activities using a scale of financial and economic sustainability is sufficient. It is convenient to assess the financial condition of an enterprise using the indicator of financial and economic stability (IFES), with the help of which both the group of financial and economic condition and the potential opportunities reflected in the strategies are quite simply determined:

Ifeu = SK - NFA = FA - ZK

Table 2. Express assessment of financial and economic condition

A good state is determined by a positive Ifeu, in which the determining factor is the development and growth strategy of the enterprise, characterized by indicators of diversified, integrated and concentrated growth, as well as fundamental qualitative changes in activities based on reengineering. The development strategy of the enterprise corresponds to the strategy of intensive advanced development of property complexes, associated with a great need for investment, as well as the transformation of the entire production and technological base based on the implementation automated systems management, new technologies, expansion of production capacity.

Table 3. Selection and relationship of strategies

If the enterprise does not have its own capital and Ifeu = NFA or lower, a severe (crisis) condition occurs in which borrowed funds are not secured by assets (exceed non-financial assets in the absence of financial assets).

A severe condition corresponds to a strategy of passive conservation (survival), characterized by a regime of resource saving, a decrease in production volumes, a reduction in personnel and a decrease in wages. Avoidance of payments and all sorts of deferments, “resolution” of mutual non-payments, primitivization of the assortment and production technology are inevitable.

In a difficult situation, investment activity is not carried out (the introduction of new technologies and the expansion of production capacity is impossible) and one of the solutions in this case is the division of property during the reorganization of the enterprise (up to the separation of the property complex into an independent business and the transition to an entrepreneurial business model), merger (realization business for debts to a creditor or sale of a controlling stake).

The need to change the business model from production to entrepreneurial is dictated by the exit from the profit zone, which is expressed in a decrease in the indicator that determines the ratio of the company's market value to revenue volumes.

Table 4. Business models

Along with the sale of unused assets in order to save financial resources and tax reduction, conservation of fixed assets and property depreciation are used. Increased turnover working capital is achieved by reducing inventories and illiquid assets, reducing accounts receivable. In this state, production reengineering and the introduction of automated enterprise property management systems are impractical and ineffective, since they do not lead to the restoration of solvency in the short term and do not contribute to the growth of the investment attractiveness of the business. The key factors remain the sale of excess fixed assets and the redistribution of capacity associated with the development of new products (product restructuring).

Thus, the relationship between the management strategy of the enterprise’s property complex and the financial and economic state is obvious and predetermines not only the result of financial and economic activities, but also the fate of the business as a whole.

Real estate management (Yagudin)

1. Legislative framework property management various states property rights.

2. Strategic goals and concept of property management.

3. Stages life cycle real estate and transformation of management functions.

4. Real estate development programming. Technological and financial monitoring.

5. Dynamics of the market value of real estate as a criterion for management efficiency.

6. Goals, objectives and criteria for the effectiveness of operating and investment real estate management.

7. Management of objects, complexes and real estate portfolios.

8. Formation of expenses and income from the property.

9. Rental policy and employment policy.

10. Factors influencing the level of rent.

11. Methods for determining rent.

12. Technical operation object and its components.

13. Separation of real estate management functions between different hierarchical levels of management.

14. Control features various types real estate.

15. Current problems of management and disposal of real estate.

Strategic goals and concept of property management.

There are several main goals of property management:

Maximizing real estate value, minimizing costs and better meeting public needs;

Adoption rational decisions regarding the sale or rental of real estate;

Accurately measure the gains and losses of property ownership;

Capitalize on property when market conditions are favorable and expand engagement with the private sector;

Improving planning of the budget process and material technical support in all local government departments that use the property.

Real estate management practice is divided into three areas:
1) creation of a management system; 2) making decisions regarding the implementation of projects and implementing these projects; 3) project portfolio management.
The first area of ​​activity includes measures to create the property management system itself, which serves as the basis for further decision-making and project implementation. The second area is closely related to the planning and implementation of specific projects for the use of real estate - its sale, purchase, improvement, rental and construction.
The third direction means managing a package of projects that are already at the implementation stage.

Creating a property management system should begin with defining the goals of this activity. First of all, you should study the main functions performed by the local administration. From this point of view, the local administration acts as: 1) a consumer; 2) investor; 3) an entity that provides public needs; 4) designer (for example, in the field of landscaping); 5) seller of goods. The purpose of property management is to represent the local government as a consumer and investor. A property manager primarily evaluates a property as a consumer, determining its market value, location and specific characteristics, rental costs, etc. At the same time, the manager is aware that the property has an investment value, measured by income from it, residual value, operating costs, etc.

The social and aesthetic value of a property is also taken into account and is more obvious but more difficult to measure. Most local administrations are more aware of the social and aesthetic needs of residents, and therefore these needs dominate when making decisions regarding real estate. This situation must be changed. A balance must be maintained between the social and investment value of real estate. As an investor, the local administration must compare the costs and benefits of owning property, evaluate alternative ways its use, choose the most profitable project.

The operation of the real estate management system must be organized in such a way as to ensure: examination of real estate, including its assessment, the purchase and sale process, marketing, etc.; objectivity of decision-making, which implies organizational separation of the relevant unit of the local administration from the departments of planning and real estate operation; high analytical quality of market research, risks, financing, etc.; creative atmosphere; authority that gives the opportunity to act on behalf of the local administration; constancy of activity, regardless of the change (re-election) of municipal councils; orientation towards active action with minimal bureaucratization.

The effectiveness of property management depends on the operation of the information support system. It is necessary to create an information database containing the most complete information and descriptions of real estate. This database must be constantly updated.

Decision-making regarding real estate must necessarily be preceded by the development of a strategic plan that defines priority areas actions and criteria for their evaluation. The plan must indicate whether the local authority is seeking to expand its business activities, or intends to increase revenues, or balance the objective of expanding business activities with the objective of increasing revenues. In any case, whatever strategic goal is chosen, it is necessary to plan a cost-benefit analysis and direction of real estate operations taking into account the interests of the local citizen community.

In future decisions regarding real estate, the local administration must measure the benefits of the operation not only in economic, but also in social parameters. Predicting and achieving good economic results is much more difficult than calculating the social effect of a particular operation. Property management requires very careful and in-depth analysis of both economic and social results in order to have a strong rationale for its activities. This rationale will help counter criticism and numerous objections. Objections from the local administration usually relate to the following issues:

Property For Sale; it is usually proposed to postpone it for more late dates when prices increase;

The degree of risk of the operation; the local administration seeks to minimize risks through measures that significantly underestimate the expected income from the operation;

One-time or short-term nature of receiving income from the operation; local administration strives to achieve maximum income generation long time;

Competition with the private sector; There remains a misconception that local government should not compete with the private sector.

An effective decision-making model in a property management system should ensure their effective implementation. This is possible when the entire decision preparation process and analytical work is open to the public. In the future, when a decision has already been made, it is necessary to achieve its implementation. At this stage, indecisiveness and frequent revision of tasks and goals are very dangerous, since trust in the local administration is weakened and the belief that the local administration may deviate from its promises increases.

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Business - initiative activity,
aimed at generating income.

Chapter 14.
ORGANIZATIONAL AND STRATEGIC ASPECTS OF MANAGEMENT OF DEVELOPMENT COMPANIES

The purpose of the chapter: consideration of the functions of development companies, their organizational structure, strategic aspects of managing development companies based on a competency-based approach, issues of forming a development portfolio, the possibilities of using a balanced scorecard in the activities of a development company.

14.1. Functions and organizational structure of a development company

The goals of the development company are to ensure effective organization and management of the development processes of residential and commercial real estate, obtaining added value on this basis and appropriating part of it in the form of income.

Achieving these goals requires the development company to perform a number of basic, auxiliary and supporting functions.

The main functions directly aimed at achieving the stated goals include the following:

1. Marketing, aimed at identifying the most effective projects and obtaining maximum returns from their implementation. The marketing function includes: systematic monitoring of the real estate market aimed at identifying promising market segments; identification of investment-attractive objects, their economic and legal examination and formation of a register of potential company projects; conducting specialized marketing research and development of the project concept; development and implementation of property promotion and sales plans; organization of sales (rental).

2. Investment, which consists of organizing the attraction of financing for the company’s projects: monitoring the capital market, determining the circle of potential investors and forming an investor base, developing business plans for the project and presenting investment proposals to potential investors, preparing and concluding agreements with investors, monitoring use and return raised funds.

3. Design and construction, which consists of organizing work with contracting design and construction organizations: developing technical specifications for design organizations based on the project concept, forming and conducting tenders for the implementation of design work, concluding an agreement with the design organization, coordinating and monitoring design work, coordination of the project with state and municipal authorities, obtaining a construction permit, holding tenders and attracting contractors to carry out construction and installation work; coordination and control of construction and installation works, commissioning of the facility.

Along with the main functions, to successfully achieve the goal, it is also necessary to perform auxiliary functions directly related to the implementation of development projects. These functions include the following:

1. Function of legal support of projects: acquisition of rights to land or a converted property from the state or private owner (purchase of ownership, obtaining lease rights, concluding a joint activity agreement), registration of contractual relations with investors, contractors, purchasers of real estate.

2. Function of financial and economic support of projects: carrying out calculations and estimates for the project, developing schemes and mechanisms for attracting and returning financial resources, budgeting, financial planning, Management Accounting.

3. The third group of functions includes supporting functions that have an indirect impact on the successful implementation of main and auxiliary functions related to the implementation of projects and are largely typical for any business:

Accounting;

Security;

Staffing;

Technical, administrative and economic support.

The types of functions of a development company are shown in Fig. 14.1.

Features of the development business, the division of the functions of a development company into a number of levels in relation to the processes of implementing development projects determine the features of building the organizational structure of the company.

As you know, there are a number of approaches to building the organizational structure of companies: linear, functional, process, project, divisional, etc. Each of them has its own sphere best use in accordance with the industry characteristics of a particular business, its scale, etc.

The organizational structure of a company has a significant impact on the efficiency of development companies. It must ensure the minimization of transaction costs when implementing development projects, the development and implementation of the most effective investment decisions and at the same time ensure the unity and integrity of the company, not allowing it to disintegrate into a number of independent structures.

The task is to use a model of the company’s organizational structure that would ensure, taking into account the above considerations, the most effective implementation by the company of its main task- implementation of real estate development projects.

Neither functional nor process approaches to building business management sufficiently satisfy the needs of the industry. The functional approach is most applicable to industries with established, stationary conditions and a more or less continuous flow of resources in each period; the functional completeness of such control schemes turns into their disadvantage in cases of environmental changes; regular management is possible only with the correct decomposition of general goals and objectives into the goals and objectives of departments. Assuming a fairly stable decomposition of general goals and distribution of functions between management bodies, the functional approach is focused on routine, established, repeating processes and is poorly applicable to a business whose content is the implementation of loosely related projects, such as development. The main disadvantages of the functional structure are: lack of a project management center, weak connections between functional departments, low level of employee interest functional departments in the implementation of a specific project, lack of efficiency in making and implementing management decisions.

The process organization of management presupposes the possibility of combining several sequential operations of one work process into a single chain with one process owner, greater independence of process participants, and responsibility for the overall result. It is possible to both sequentially pass business process operations through several divisions and organize the process structure of an enterprise (process synthesis). However, the concept of business process reengineering was developed at the end of the 20th century. also with an eye to traditional industries with continuous or mass production, where it was only necessary to optimize business processes so that the linear-functional structure becomes process-based, and activities become as efficient as possible. Thus, the process approach in itself is also of little use, since it is based on the idea of ​​production as a single process, and development as a business is a series of parallel processes.

With such complex management activities as management investment project carried out at all its stages, blocks of tasks are identified that neither the functional nor the process approach can solve. Therefore, in practice, both approaches are used, but they are complemented by project management.

Project approach to organizational structure more aimed at project activities and assumes that the project work package is developed independently of hierarchical structure organizations. The point of the project management structure is to assemble the most qualified employees into one team different professions to implement a complex project on time with a given level of quality and within the framework of the material, financial and labor resources allocated for this purpose.

There are several types of project structures. For example, one of their varieties are the so-called pure or consolidated project management structures, which imply the formation special unit- project team working on a temporary basis. These commands operate independently of the main control structure. At the same time, the project manager forms a main, key group of specialists who constantly work on the project, recruiting the necessary personnel both inside and outside the organization. In this case, the project team is actually separate from the organization and has a clear focus on achieving the project goal. Obviously this can cause damage. general level controllability of the company, so a different approach seems more appropriate, when the entire organization supports project teams. In this case, the entire structure of the organization consists of relatively independent project teams constantly working on specific projects. The task of functional units is to provide support to project teams. Graphically, such a project-type organization can be represented in the following way(Fig. 14.1).

Rice. 14.1. Project-type organization structure option

The use of such structures has its strengths and weaknesses.

TO strengths The following can be included:

1. This is a relatively simple way to complete a project that does not involve inconsistent routine operations. Resources are not taken away from the functional organization to work on the project, the functional organization retains its integrity, and the project team works independently of it.

2. This system, unlike the functional approach, focuses on the project. The project manager has complete control over the work on the project.

3. Independent teams tend to complete projects faster, both due to the fact that team members pay full attention to the project and are not distracted by other responsibilities, and because in such a system the response to decisions occurs much faster, since information no longer walks along the verticals of the functional hierarchy.

4. There is a high level of motivation and mutual understanding in the project team. Team members have the same goal and shared responsibility for the project.

Real estate development management. Textbook

The textbook contains a systematic presentation of the functions of a developer as an entrepreneur and manager at all stages of the implementation of real estate development projects - from the formation of a development idea to the transfer of the created object into operation.
The textbook was prepared on the basis of a course of lectures given by the author at the Department of Real Estate Management at St. Petersburg State University economic university, as well as revisions, expansions and additions to the book “Development (real estate development): organization, management, financing” (St. Petersburg, 2003).
The textbook is intended for students (bachelors, specialists and masters) studying issues of project management, real estate market, property management, and can also be used in the system of additional professional education.