Roles in Property Asset Management

Roles in Property Asset Management

  • Submitted By: ronaldxu
  • Date Submitted: 11/09/2008 11:19 PM
  • Category: Business
  • Words: 780
  • Page: 4
  • Views: 782

What is property, facility and maintenance management?

“Property management is the operational management of the property focusing on the day-to-day activities.”(Lecture notes, week 1). Facility management is the resource and service management. “It deals mainly with the concerns of users of property and is less directly concerned with asset performance.”(Lecture notes, week 1). “Maintenance management is the process of keeping any, part or all of a building or facility in an agreed condition”. (Tony Ransley & Jerry Tyrrell, 1998)

What is the difference between each and function of each?

Property management only involves in the operational phase during the whole project life cycle. It acts more like a ”order taker” to deal with the operational objectives, pursuing a return on asset owner’s investment and representing the owner to enhance the revenue.

Facility management concludes both strategic design and operation phase..(Bet Nutt & Peter McLennan, 2000) In strategic design phase facility management will determine the whole facility function and the life cycle cost. It acts as a proactive role in the very beginning of the project. In operational phase, facility management is “concerned with the implementation of organizational property objectives.”(Tutorial notes, week 3). It focus on both operational and physical level of the property and is the management of all tenant services within the building.

Maintenance management attends all parts of the project life cycle. In strategic design phase the role of maintenance management is to determine the economic life and maintenance strategy of the building. It pays attention to the building quality in the construction phase and mainly deals with the physical level to obtain and maintain the maximum value of the building in operational activities.(Jenny Tynell,1998)

The participation of different roles in project life could be concluded as below: (figure 1)

Facility management...

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