Innovative Practice Award Program
The Innovative Practice Award Program is a collaborative effort between real estate professionals and students enrolled in the FINA 7397 – Innovation in Real Estate course conducted in the Spring of each academic school year.
Objective of the Innovative Practice Award Program
A "Real Estate Innovative Practice" is an innovative methodology that, when applied to the development of a real estate project, or related process, service or operation, is found to improve results and advance the achievement of the desired objective.
The methodology will typically utilize interdisciplinary skill, knowledge sharing, and collaborative efforts. Therefore, it implies the combination of people, projects, and services.
"Innovative Practice Program"
The Innovative Practice Program is an annual program, whereby the Stanford Alexander Center for Real Estate identifies an innovative methodology and demonstrates its value as an improvement over conventional approaches.
The Innovative Practice is promoted through the publication of a report and presentation at a symposium to expand its application and thereby advance expertise in the real estate profession.
Structure of the Program
The Executive Advisory Board Center Committee provides leadership and governance of the Initiative.
A task force composed of 3-5 real estate professionals selected from the Committee, or as otherwise designated, and real estate students enrolled in the Research Seminar: Innovation in the Real Estate Profession course will be organized as a team to conduct the Innovative Practice Award Program.