Asset Managers in Commercial Developments
The role of Asset Managers in Commercial Developments cannot be downplayed as it is a critical role. An asset manager is one who serves as an adviser to a client with the single goal of substantially growing client’s portfolio. The asset manager provides the following major services. this is in no way an exhaustive list. The services include:
- Maximises the overall profitability of the site
- Analysis, options, and recommendations to the owner for decisions to be made by them
- Implementation to achieve the objectives and decisions of the owner
- As required, implementation to achieve decisions for the general manager and management team based on those objectives
- Ensures that the strategy is converted to tactics and implemented with changes as required
- Looks at each Area of Operations and look for inefficiencies, improvements, structure, operations, and quality
- Create Standard Operating Procedures to capture policy on standards, quality, performance measurements
- Leads the creation of operating budgets, CAPEX priorities, recommendations, and implementation.
- Build management team including hiring, reshaping and firing of senior staff, setting objectives, performance reviews, and bonuses
- Ensure non-financial objectives are achieved (e.g. quality, social justice programs, PR etc.)
Our Asset Optimization portfolio offers solutions for utilities to improve asset management and investment analysis with advanced financial modeling to facilitate a risk-based approach to strategic asset investment planning.
As Asset Managers, Bickstone’s responsibility is to act as the owner’s representative in order to maximise the property’s financial performance.