Webinar: Governance and Decision Making in Condominium Renovations
Brief information from the webinar
This presentation covers key topics like governance structures, decision-making processes, common pitfalls, and data-driven strategies to ensure successful condominium projects. Learn how to avoid scope creep and budget overruns by understanding legal frameworks and best practices.
Summary of topics
Common governance structures
Decision-making processes & impact
Noise & decision hygiene
Decision awareness - "thinking fast and slow"
Scope & prioritization
Common pitfalls & risk areas
Defininig success: metrics & indicators
Best practices & implementation tools
Analytics & data-driven decision-making
Q&a / call to action
Organizational chart
Condominium Authority Tribunal
Decision-Making Process
Priorities
Common Pit Falls and Risk Areas:
Analysis paralysis
Problem: Too many options, no clear criteria Solution: Narrow options based on critical / functional / aesthetic - set a vote deadline
Unrealistic expectations
Problems: Budgets timelines not grounded in reserve fund or market data Solution: Update reserve fund study, adjust budget, communicate phasing plan to owners early
Lack of trust
Problem: Board member / Resident insists on reviewing every change order real time - delaying approvals Solution: Transparent RFP's; establish clear change order thresholds (e.g. only up to $5K), share a live project dashboard
Governance confusion
Problem: Manager signs contract without a Board resolution, leading to dispute over scope creep. Solution: Document approval process in minutes, clarify signing authority in by-laws.