PROPERTY ASSET HEALTH MANAGEMENT

Course Background

Property assets are sizable investments; they also incur high operating cost and affect organisational performance and image. They must thus be strategically managed to ensure their functional and technical health at optimal costs to achieve the highest possible tangible and non-tangible returns from them.

Central to the management strategy is maintenance of asset health and delivery of value-add services. Achieving this mission is however increasingly challenged by inevitable cost increases due to factors such as enhanced health and safety regulations, asset ageing, more defective new buildings, sustainability requirements and rising user expectations. Maintenance budgets on the other hand continue to be trimmed on the belief that it does not significantly impact asset health and operations and longer term life cycle costs. The consequences of insufficient maintenance funding are unfortunately not immediately visible. Attempts to quantify maintenance neglect and impact on asset health are hampered by a lack of information on asset condition and the inability to predict measureable performance and condition decline.

There is a paramount need for a standardised condition assessment system to monitor and measure asset technical condition and ageing in a consistent manner at any stage in the asset life. Guiding principles provided thereafter for delivering consistent and optimised maintenance services across all assets and asset types to meet conflicting user-technical-cost parameters will help ensure effective property asset health management outcomes.

Course Objectives

The MasterClass will impart the knowledge, skills and tools to implement the Property Asset Health Management Strategy and Health Monitoring Framework shown below. This structured approach ensures asset functional and technical health to meet organisational-business needs and service requirements at optimal costs over service life.

Fig: Elements in Strategic Property Asset Health

Elements covered will include Asset Health Policy, Maintenance Standards and a Condition-Based/Predictive Maintenance Framework underpinned by an objective condition assessment system modelled after Dutch Standard NEN 2767-1 ‘Condition assessment built environment – Part 1: Methodology’ believed to a ‘world first’ to resolve the inevitable subjectivity in inspections. NEN 2767 forms the basis of European standard CEN TS/17385: ‘Method for condition assessment of immobile constructed assets’.

Course Outline

• PROPERTY ASSETS & ASSET PERFORMANCE
  • Corporate Mission & Property Assets
  • Property Occupancy / Use Costs
  • Property Asset Management / Asset Health Management
  • Property Performance Assessment & Measurement
• PROPERTY ASSET MANAGEMENT ORGANISATIONAL STRUCTURE
  • Property Assets & Asset Management Structure
  • Property Asset Management Policy
  • Property Asset Management Levels & Functions
• PROPERTY ASSET HEALTH MAINTENANCE SYSTEMS
  • The Maintenance Concept: Objectives & Outcomes
  • Maintenance: Process & Types of Work
  • Traditional Maintenance Systems: Cyclical & Response-Based
  • Change Drivers & Tenability of Traditional Approach
  • Condition-Based/Predictive Maintenance Systems
• PROPERTY ASSET HEALTH / MAINTENANCE MANAGEMENT
  • Strategic Issues
  • Maintenance Standards
  • Maintenance Policy
  • Maintenance Management Structure
• CONDITION ASSESSMENT STANDARDISATION IN MAINTENANCE
  • Inspections/Condition Assessments in Maintenance
  • Assessing & Measuring Building Condition
  • Subjectivity in Inspections/Condition Assessments
  • Condition Assessment Standardisation: NEN 2767
  • NEN 2767 Underpinned Predictive Maintenance Model
• MANAGING CONDITION ASSESSMENTS
  • Condition Assessments in Asset Life
  • Organising & Executing Condition Assessments
• IMPLEMENTING CONDITION_BASED MAINTENANCE SYSTEMS
  • Rationale for Condition-Based Maintenance Systems
  • Condition-Based Maintenance Framework & Model
  • Process for Maintenance Planning & Budget Allocation
• MAINTENANCE PLANNING, PRIORITISATION & BUDGET ALLOCATION
  • Maintenance Planning & Control: Overview
  • Long Term Maintenance Plan & Budgets
  • Short Term & Annual Maintenance Plan & Budgets
  • Maintenance Prioritisation & Budget Allocation
•  PERFORMANCE-BASED SERVICE PROCUREMENT
  • Procurement Models
  • Prescriptive vs Performance-Based Services
  • Performance-Based Maintenance Outsourcing
• ASSET HEALTH PERFORMANCE MONITORING 
  • Asset Health Performance Monitoring: Overview
  • Asset Health Performance Indicators & Metrics
    • Financial Indicators
    • Technical & Sustainability Indicators
    • Service Provision Indicators
• ASSET HEALTH & MAINTENANCE INFORMATION SYSTEM
  • Management Information System Overview
  • Property Asset Health Maintenance Management System

Who should take this course?

The course will benefit those who have a vested interest in buildings including:

• Developers
• Property Asset Owners/Government Asset Officers
• Architects/Engineers/Project Managers/Quantity Surveyors/Contractors
• Asset/Property/Facilities/Maintenance Managers
• Managing Agents
• Management Corporations
• Town Councils
• Others with a Vested Interest in Property Assets

Course Accreditation and Certificate of Attendance

The course has been approved for 14 PDU units under the PE Board Continuing Professional Development programme. Attendance certificates will be issued; they may also be suitable for meeting the CPD requirements of other relevant professional bodies not operating a CPD course accreditation system.