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Reimagining real estate and facilities management outsourcing : A bp and JLL case study
Corporate Real Estate Journal,
13
(1),
54-69
(2023)
Abstract
In 2019 bp set out to renew its facilities and real estate contracts. What began as a typical request for proposal exercise turned into a complete reinvention of the bp workplace organisation. The team got a boost when Bernard Looney took the helm as bp’s Chief Executive Officer (CEO) in February 2020. Looney’s vision was the most far-reaching transformation in bp’s 112-year history: to transform bp from an international oil company to an integrated energy company by shifting bp’s focus from producing oil and gas resources to one that delivers energy solutions. bp’s ambition is to become a net-zero company by 2050 or sooner, and help the world get to net zero. bp’s workplace team accepted the challenge; the simple contract renewal they had started needed to be reimagined. This case study goes behind the scenes and shows how the parties pulled off what many in bp thought was impossible, especially in the middle of a pandemic when 100 per cent of the work had to be done virtually.
Keywords: bp; JLL; outsourcing; Vested; Vested Outsourcing; innovation; transformation; facilities management; sustainable sourcing
The full article is available to subscribers to the journal.
Author's Biography
Kate Vitasek is an international authority on highly collaborative win–win relationships for her award-winning research and Vested® business model. Author of seven books and a faculty member at the University of Tennessee, she was lauded by World Trade Magazine as one of the ‘Fabulous 50+1’ most influential people affecting global commerce. Vitasek is a contributor for Forbes magazine and has been featured on CNN International, Bloomberg, NPR and Fox Business News.
Cherie Duddridge is the Workplace Solutions Manager at bp and a Vested certified deal architect. She has been managing the Global Vested contract transition globally across the bp/JLL Vested contract. She has worked in oil and gas for 36 years starting in retail and the last 18 years in property management. bp is a leading energy company reimagining energy for people and our planet.
Alexander Lundin is the global head of Vested at Ernst and Young (EY) and Vested certified deal architect coach. He has been an adviser and facilitated Vested journeys for over ten years and worked with 30+ organisations on other types of outsourcing projects (transactional, performance based, etc.), within facility management (FM) as well as other areas. EY is a global professional services company with 350,000+ employees and a Vested center of excellence.
Valerie Bonnin is Managing Director of Incendium Consulting who have helped over 100 blue chip clients in the last five years improve their real estate and facility management (FM) outsourcing arrangements. Valerie has dedicated her career to developing the best relational and economic models in collaboration with clients to put in place sustainable partnerships so working with the Vested methodology was a great fit. Incendium is part of the Instant Group, an innovative provider of workplace services and the world’s largest digital marketplace for flex space.
