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Transcript of Research, Analysis and Evaluation. Introductions Your Name Where You Work Your Job Responsibilities...
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Research, Analysis and Evaluation
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Introductions Your Name Where You Work Your Job Responsibilities How long have you been in the Industry? Have you ever been asked to research and
suggest solutions for a property problem? What are your expectations for this
program?
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Today’s Agenda Identifying Issues and Problems Conducting Research Analysis and Evaluation Techniques Finding and Supporting Conclusions Making Persuasive
Recommendations
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Overview – Cognitive Abilities
The process of acquiring knowledge by the use of reasoning, intuition or perception
Perceiving conditions around you, analyzing problems and recommending solutions
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You Already know How to Analyze!
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Overview – Business Analysis
Identifying Business Needs
Determining Business Solutions
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You will Get Answers to……. What current conditions present
problems? Where do I find relevant
information? How do I separate out meaningful
facts? How do I determine what the facts
are telling me? How should my property respond?
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Chapter One
Identifying Issues and Problems
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Identifying Issues & Problems - Topics Issue or Problem? Typical Rental Housing Issues and
Problems Identifying Present Conditions Link to the Owner’s Goals and
Strategies How to Write a Problem Statement CLASS ACTIVITY
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Definitions
Issue
A subject of concern; the central or most important topic in a discussion or debate
Problem
A difficulty; a difficult situation, matter or person; a question or puzzle that needs to be solved
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Industry Examples Issue: New apartment property nearby
in lease-up Problems: Increased need for visibility;
inferior curb appeal; poorly trained leasing staff; poorly focused market outreach
Issue: Operating expenses exceed budget
Problems: Poor purchasing strategy; failure to use company-approved vendors; poor maintenance skills
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Some Typical Rental Housing Issues
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Activity #1Identify potential
problems or missed opportunities for your
assigned issue.
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Identify and List Present Conditions
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Examples of “Present Conditions”
Fantastic Weekly Activity Levels
Too much Delinquent Rent
Staff is not Energetic and Engaged
Shop is messy and parts inventory is not covering usage
The neighborhood is losing retail establishments
Building one has been damaged by Fire
Closing ratios are under 10%
Maintenance follow-up calls are not made
Property siding is uneven and warped
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What are your Owner’s Goals for the Property?
A specific rate of return Regular cash flow
Tax benefits Investment diversification
Quick profit Increased property value
Improved management performance
Pride of ownership
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Goals can Change!
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Sample Strategies to Achieve Goals
RefinancingProperty ImprovementsRenovation or RetrofitProperty ConversionProperty ExchangeProperty Liquidation
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Example Strategies
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Short Term Hold - - - Long Term Flooring??January 2013 Revision 1
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Problem Statement
1. Illustrates a clear vision of where we want to go
2. Describes current errors or shortcomings
3. Identifies the method to identify and solve the problem(s)
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Problem Statements May Change!
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Three Parts to a Problem Statement
STATEMENT 1 – Description of the ideal scenario
STATEMENT 2 – The reality of the situation STATEMENT 3 – The consequences for the
audienceConclude with proposed research to
investigate the possibility of making the reality more like the ideal!
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Review the Sample Problem Statement
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Activity #2
Writing Problem
Statements
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Chapter Two
Conducting Research
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Conducting Research -Topics Gathering Information Taking Notes Multifamily Rental Housing
Data ACTIVITY: DATA GATHERING Information Overload
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Print Materials
Libraries are great places to start
As you read, stay on track by keeping problem statement handy.
Quick scan table of contents or index to save time.
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Interviewing People Capture experiences of people
who have had similar problems
Compose your questions before the conversation!
Write or record everything
Stay on Track
Follow-up may be necessary
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Using the Internet
Know your Purpose
Don’t believe Everything
Smart Search Tactics Key words Gateway sources
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DON’T FORGET!
Use Company and Property Documents and Reports!
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Research Topics to ConsiderExternal
Economics Social Trends Business Activity Employment Roads and Access Building Codes Regulations
Internal Technology New Applications Products and Services Reports Company Best
Practices Competition Your Own Property
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Tips for Taking Notes
Use index cards or word processing to
sort as you go
Always identify the source as you note
the information
Paraphrase for your purpose
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Activity #3
Research Practice
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Information Overload!!
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Looking for Meaningful Material
Keep your Problem Statement with you while you research
Keep asking your 4 or 5 questions about the issue
Keep notes separated by the topics in your 4 or 5 questions.
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Wrapping Up Research Underline Key Words Look for Specific
Answers Think how Ideas might
Link Together Reject Information that
is too Detailed Gain Confidence in
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Chapter Three
Analysis & Evaluation
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NOW ITS TIME TO ANALYZE
Did your research change your suggestions?Will your final recommendations change?
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Analysis & EvaluationTopics Analysis Defined Preparing and Using an Outline Preparing and Using a Concept Map Trend spotting Critical Thinking
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Definitions ANALYSIS – the process of breaking
a complex topic or substance into smaller parts to gain a better understanding of it.
BUSINESS ANALYSIS – the discipline of identifying business needs and determining solutions to business problems.
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Potential Solutions Process Improvement
Organizational Change
Strategic Planning
Policy Development
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Multifamily Business Analysis
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Preparing and Using Outlines
Working OutlineVs.Final Outline
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Typical Outline Structure
I. Major Component of IssueA. Smaller Factor of the Component
1. Details2. Details3. Details
B. Another Smaller Factor of the Component1. Details2. Details
II. Second Major Component of Issue
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New Construction Down the Street
Review Example
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The Final Outline Add specifics to details Check for evenness – enough detail
on each element, or did you over focus on one?
With the right detail, this is almost your final proposal if you are making it in writing!
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Sorting Major Topics Chronology
Cause/Effect
Compare/Contrast
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Concept Maps
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Numbers or Patterns?
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Concept Maps….. Establish Connections between Ideas
you Already Have
Uncover new Connections
Organize logically, but not rigid
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Sample Concept Map
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New Property in the Neighborhood
Closing ContestShops
TrainingStaff
Sources
Traffic
New Signage
Flags
Curb Appeal
Test Upgrades
Our Units
Preferred Employers
Outreach
Loss Leader
Our Rents
Amenities
Pet Park
New Bike
Shop Comps
Qualify?
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Activity# 4
OutlineOr
Concept Map?
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TrendSpotting
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Tips from Sonicbids
1. Stop talking and listen2. Look beyond your own business3. Visit your alma mater4. Kill your products before
someone else does5. Think “yes,” not “no”
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TrendSpotting in Reports Repetition Once is a Charm Knowledge is Power External influences Reporting All alone
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Critical Thinking
Lots of Data……What’s important and why?
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Ask Yourself Am I too vague? Do I have enough facts and figures
to support my plan? Have I thought of every roadblock or
hurdle? Do I have enough clear examples?
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Critical Evaluation Skills Toolkit
1. Students teaching Students
2. Group Problem solving
3. Using Questions to encourage Critical Thinking
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Chapter Four
How to Draw Conclusions
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The Fourth Step…..
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“Assumption” “An assertion about some
characteristic in the future that underlies the current operations or plans of an organization”
RAND Corporation
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Some Typical Assumptions This slowdown is temporary – traffic will
be back to normal soon This resident loves us, so our decision is
safe Our residents want “X” Our comps can’t beat us at “Y” We can’t afford to do “X” We tried “X” before and it didn’t work.
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As you draw your conclusions…..
Check for practices, results, stereotypes and history that you may be assuming has or will happen!
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Activity #5
Identify typical assumptions for
each category
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Reasoning Skills Inductive Reasoning
Deductive Reasoning
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Inductive Reasoning Starts from specific facts or
observations to arrive at a general conclusion
A “prove it” approach Relies on generalizations (could be
misinterpretations!)
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Deductive Reasoning Starts from a general observation
and works back to a specific example
Relies on inference (conclusion) Relies on all parts of the premise to
be connected (what happens to variables?)
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Three Parts to a Conclusion Introduction
Body
Recap
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Writing Effective Conclusions
So What?
Circle Back
Synthesize
Action?
Broaden
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ConclusionsNever – Ever Overused
Phrases 1st Time for
Proposal New Idea New Evidence
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Chapter Five
Writing Effective
Recommendations
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Effective RecommendationTopics Recommendations or Conclusions? Using Debate Skills in
Recommendations Tips for Writing Recommendation ACTIVITY: Writing Recommendations
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Our Example:
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Consider Who your Audience is!
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What do I want my Audience to get?
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Wear the Stakeholder’s Shoes
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Personal Move-In Visit?
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Using Debate Skills to Sell Recommendations
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Debate Skills
Persuasive Verbal Arguments
Confidence and Clarity
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Debate Skills
Use Big Picture Perspective
Counter Opposing Arguments
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Debate Skills
Time Management Skills
Logical & Analytic Thinking
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Debate Skills
Research Skills Reading the Audience
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An Equal Balance
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Not Accepted???
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Don’t Give Up!
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Your Recommendation Checklist Restate the Problem(s) Don’t Assume they think you have
the Answer! Double-check your research Prove your Conclusion(s) Financially Feasible Look and Sound Professional
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The Multifamily Professional
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YOU!
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Activity #6
Writing Recommendations
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Chapter Six
Research, Analysis and
Evaluation Workshop
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Workshop Instructions Work in small groups Select a scenario Complete the Answer Sheet Present your final Recommendations
to the Class
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Thank You!
Begin to use Your Cognitive Skills TODAY!
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