Clear Success Metrics Are Key For Smart Building Projects

Episode Summary: In the third episode of  The Measure Podcast by Metrikus, our host Michael Grant is joined by Salma Kayali, Vice President | Innovation at Aldar Group who create real estate developments within Abu Dhabi.

Theme: Productivity

Episode highlights:

• How Aldar approaches indoor air quality within their properties (02.39)
• The solutions they have implemented and progress they have seen (03.45)
• The importance of setting clear success metrics at the beginning of a project (05.00)
• How they are able to help startups scale (06:12)
• How to get stakeholder buy in with startups and innovation (07.27)
• The challenges with proving a return on investment within air quality projects (10.52)
• How their work on air quality is not just about ROI but also value creation (11.48)
• The advice Salma would give organizations trying to prove success on a Smart Buildings Project (17.37)
• Myths Salma would like to break about the PropTech industry (21.24)

Key Takeaways:

• “The value add is huge. It's creating efficiencies, reduction in energy usage, improvement of wellbeing. An increase  in productivity, safety, and security.” - Salma
• “There needs to be KPIs to be measured, and if they're not existent, not present, even if the pilot or project concludes, and it's fine, then how can we show the value that's being created for the corporation?” Salma
• “Innovation is absolutely the opposite of that. It's breaking that mold, it's bringing new ways and improving the ways that we do. And with that, there's obviously an innate resistance. However, the way we have tackled this at Aldar is by finding the champions, the 10- 20% of people who are willing to try, who are always eager, enthusiastic to do things better.” - Salma
• “We have developed a framework for economic value measurement that tackles over 25 variables. So ultimately it's nice to tie it to a financial figure, whether it's cost saving or revenue generating, but in some instances, the initial variable it’s tied back to is not a financial figure. It could be repeat customers.” - Salma
• “For us, air indoor quality and actually outdoor quality to a certain extent, and the temperature around that is absolutely crucial for the wellbeing of all the dwellers. And it does hit our goals of ESG, which you could ultimately tie back to green financing or a sustainable credit and all these other cool metrics that are being designed now to support and encourage big corporations to take on these initiatives that don't have immediate financial return.” - Salma

Resources:

• Metrikus
• Metrikus Content Hub
• Berkeley
• PM10 & PM2.5
• Deutsche Bank

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