Issue:

A commercial hospitality industry developer in Mexico City was under construction of two assets with an additional expansion project pending. The developer is also actively searching for new assets to acquire for scaling the portfolio under management. StoneTurn’s process enhancement and governance services were required to ensure third-party investments were controlled and deployed properly.

Solution:

StoneTurn conducted a diagnostic review of capital delivery processes and tools, providing detailed recommendations and implementation roadmaps for improving development, construction, budgeting, and cost management processes while enhancing the utilization of technology platforms. StoneTurn is now working with the client to implement the processes and policies, improve ERP system and Procore utilization, and implementation of development, construction, and accounting controls to improve governance and operational efficiency associated with capital project delivery activities.

Results:

Through the enhancement and documenting of processes, including tools and templates, the developer has begun implementing the controls and processes ensuring a standardized and controlled approach to delivering both in progress and net new projects.