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Client summary
Talonvest Capital Inc. provides mortgage brokerage services for senior debt, mezzanine loans, preferred equity, and joint venture equity to capitalize ground up construction, value-added acquisitions, and stabilized properties. The company’s active leadership is evidenced by its service on the boards of the Urban Land Institute, SSA Foundation, NAIOP, CA Self Storage Association, and the University of California -Irvine Center for Real Estate.
Industry
Tech
website
https://abstraxtech.com
Key results
Reduction in information silos being developed
Improvement in workflow transparency
Reduction in redundant email communication
people
teams Behind the Work
Abstrax Tech consists of 100+ employees, 3 teams across 3 locations, including manufacturing.
Challenges
barriers to scale
- Information silos preventing visibility over project timelines, status, and pending tasks
- Projects stalled due to bottlenecks that wouldn’t be recognized for weeks or months
- Frequent communication breakdowns between manufacturing and management
- Lack of clear ownership for project outcomes
- Teams excessively dependent on management’s oversight to complete projects
- No backup plans to compensate for delayed or failed projects
- Confusion caused by unclear priorities competing for the same resources
steps
client priorities
- Increase visibility and transparency over projects, tasks and completion timelines
- Implement clearer, simplified and repeatable workflows
- Install an efficient project management system (PMS) to achieve more consistent outcomes
- Improve cross-team communication and project/task handoffs across teams, and departments
- Consistent weekly project management facilitation across different teams and locations
- Improve prioritization of resources
- Introduce proper New Product Introduction (NPI) calendars
Solutions
steps to streamline
- Conduct a thorough audit and assessment of existing processes to identify bottlenecks
- Introduce Asana combined with Agile project management practices to ensure project and task priorities and clarity
- Configure new workflows around essential project work, build top-level portfolio views to quickly gauge on-track and off-track project status
- Introduce a predictable planning and work management cadence to improve management and communication
- Improve communication by pairing tasks and updates in a single place and reducing unnecessary email and instant messaging
- Create a new set of routines and habits to define new projects, tasks, and sub-tasks on Asana
- Train and reinforce routines and habits based on the new workflow to maintain an accountable workflow
- Provide weekly Asana implementation sequences and goals to ensure consistent and gradual adoption
Execution
putting plans into action
Approach
how we planned the work
Results
What’s improved
- 50% reduction in information silos being developed
- 50% improvement in workflow transparency from the idea to manufacturing phase
- 30% reduction in redundant email communication
- Increased visibility into project timelines and tasks
- Clarity on project statuses and overall management
- Creation of tangible workflows and processes
- Increased trust from executives due to improved workplace transparency
- Improved communication between team members and among departments
- Improved project handoffs between teams and departments
- Reduced confusion surrounding priority activities
- Reduced scope creep
- Increased accountability for project work
- Increased accountability for project work
- A set of sustainable and scalable workflows and processes
