Before You Sign a Commercial Lease, Take These 5 Critical Project Management Steps
Imagine making the pivotal decision to move your business to a new location, finding a seemingly perfect office space, signing the lease, and beginning to move in—only to discover that the new site cannot accommodate a fundamental need of your business. Believe it or not, situations like this are common with commercial moves, often resulting from a lack of project management expertise.
From setting a budget to transferring your infrastructure, commercial moves present an endless number of details to consider, all while carrying on your day-to-day business functions. A carefully crafted, detail-oriented plan is the key to reducing stress and making the move a seamless transition for your business.
Are you considering leasing a new office space? Before you sign on the dotted line, make sure that you’ve taken these five critical project management steps:
- Determine a budget and timeline for the move. Before you begin scoping out potential new office spaces, it’s important to have a clear understanding of the goals and limitations—including the budget—for your company’s move. When formulating a budget, remember that consulting with professional movers and project managers can help you save money in the long run by avoiding costly mistakes. In addition, creating a timeline for the move and breaking it down into phases will help to make the process seem less daunting.
- Identify your company’s unique needs—and ensure that any site you are considering will accommodate those needs. Are you moving any assets that take up a great deal of space? Does your business require equipment that uses substantial electrical power or must be stored in a particular manner? If so, keeping these needs at the forefront of your search for a new office space will help you avoid errors that could delay—or even derail—your commercial move.
- Do your due diligence. When searching for a new home for your business, it is common to become so enamored with a particular office space that you forget to investigate critical aspects of the property that are necessary for your business to operate. The key is to avoid making any assumptions about the property’s features.
At LaunchPM, we recently assisted a medical practice that had already signed a lease for a new office space at the time we began working with them. In addition to being in an ideal location, the space had previously been occupied by another medical group, so it seemed reasonable to assume that it would offer enough electricity to operate X-ray machines and other medical equipment. However, it was later discovered that the office did not even have enough power to add basic features, like a garbage disposal in the kitchen. We were able to help our client resolve the problem through the use of generators, but it could have been avoided if proper due diligence had been used at the outset.
- Leverage relationships with vendors. A commercial move requires the assistance of many parties. Early in the process, obtain bids from movers, contractors for any improvements that will need to be made in the new space, and project managers who will ensure a successful move with minimal interruption of your daily business operations. If any problems arise, it is important to have the right people on call to solve them in an efficient and cost-effective manner.
- Pay attention to detail. In the stress and excitement of a commercial move, it is easy to overlook seemingly minute details. However, these details can threaten the success of the move. We recently helped a client that had already signed a lease for a great office space on the third floor of a building. As a technology company, this client required large air conditioning units, or CRAC units, that were needed to cool their data centers. During the design of the new space, they discovered a major problem: due to the size of the elevator, certain CRAC units would not fit. After considering the options, we were able to modify the design and provide CRAC units that would be able to be unassembled, moved to the third floor, and then reassembled. This could have been a very expensive problem if we had not paid close attention to all the details.
With extensive project management experience, the LaunchPM team will ensure the successful completion of any commercial project. Using a uniquely holistic approach, we take into account all the details required to make the building out of a new space, or relocation or simple move easy, efficient, and economical. Contact us today to begin crafting a plan for your next commercial project!