bp and JLL: Reimagining Real Estate and Facilities Management Outsourcing

 

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 organization. The team got a boost when Bernard Looney took the helm as bp’s 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. The result? The decision to use the University of Tennessee’s Vested methodology to enable bp to create a highly strategic and collaborative strategic partnership with a service provider with a clear intent to transform bp’s corporate real estate and facilities management operations to meet bp’s aggressive new goals.

This case study explores bp’s journey to learn – and ultimately implement – a Vested business model with JLL. Together, the parties set out to reimagine and transform bp’s workplace services operations. bp and JLL signed their Vested agreement in late November 2021 and just three months later had mobilized the first wave of bp facilities – a remarkable achievement made even more remarkable because the process was done entirely in virtual environments during the pandemic lockdown and as lockdown restrictions ended. bp and JLL want to share their story to inspire other organizations about the art of the possible.

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% of the work had to be done virtually. The case study consists of six parts.

  • Part 1 provides a brief background
  • Part 2 shares how bp laid the foundation for change
  • Part 3 profiles how bp and JLL got ready for the Vested journey
  • Part 4 goes into detail about how the partners put the Vested theory into practice by creating a Vested Agreement
  • Part 5 explains the transition of living into the agreement
  • Part 6 summarizes early results and offers advice that will benefit other organizations as they embark on their own Vested journey.

We hope you find this case study an inspiration to see the art of the possible when it comes to strategic outsourcing partnerships.

This case study was presented at the 2023 Global Executive Summit. You can view that presentation slide show here.

 

You must be a SIG member and logged in to view this document.