In the fast-evolving real estate industry, various frameworks, such as Capability Models, Value Streams, and Problem Analysis frameworks, offer ways to organize and manage different business functions and project components. Each framework can be beneficial in specific contexts, like tracking leasing efficiency or tenant engagement. However, these models often fall short of providing a holistic view of the enterprise, especially in a complex field like real estate.
This blog examines how Capability Models apply within real estate and demonstrates how the ICMG Enterprise Anatomy Model offers a more complete, universal approach.
One Enterprise, One Anatomy: The Foundation of the ICMG Model
The ICMG Anatomy Model operates on the principle of “One Enterprise, One Anatomy.” Unlike traditional frameworks that vary based on specific departmental needs or external perspectives, the ICMG model proposes that every real estate organization—and each project within it—has a single, definitive anatomy. This comprehensive structure ensures consistency, alignment, and completeness, eliminating the gaps that often arise in traditional Capability Models.
Best Practices vs. Absolute Structure: What Real Estate Needs
Capability Models in real estate are typically based on best practices developed through experience or industry knowledge. While these models can be helpful in isolated scenarios—such as setting standards for tenant acquisition processes or property management—they are usually selective, offering only a partial view that can result in inconsistencies.
Case study 1:
Consider two real estate firms each using a Capability Model to optimize their leasing strategy. One firm focuses on tenant retention processes, prioritizing long-term occupancy, while another prioritizes marketing and acquisition to fill vacancies quickly. Both approaches serve their purpose but represent only a fragment of the leasing process. When viewed in isolation, neither offers a complete picture of the overall leasing system, which includes operations, tenant onboarding, maintenance, and strategic alignment with corporate goals.
In contrast, the ICMG Anatomy Model provides an absolute, universal structure. Much like the anatomy of a building—which must cover all essential elements, from foundation to utilities—the ICMG Anatomy Model insists that all aspects are addressed, from Goals/Strategy to Processes, Systems, Components, Implementation, and Operations. This structure ensures that nothing is missed, creating a reliable foundation for decision-making and operations.