Best practice asset management in major project delivery

This research examines social housing asset management (AM) in Australia and develops a best practice framework that outlines AM processes and criteria for making decisions.

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Maintrainenance: Keeping Heavy Rail Maintenance on Track

Transportation Research Record Journal of the Transportation Research Board ◽

10.1177/0361198119827533 ◽

2019 ◽

Vol 2673 (7) ◽

pp. 192-203

Author(s):

Sreekar Shashank Boddupalli ◽

Andrea Sherman ◽

Joe Zerkus ◽

Alice Grossman

Keyword(s):

United States ◽

New York ◽

Asset Management ◽

Best Practice ◽

The United States ◽

Lessons Learned ◽

Rapid Transit ◽

Bay Area ◽

Transit Agencies ◽

Heavy Rail

Infrastructure management is an important aspect of transportation engineering. Contrasting views have emerged on feasible best practice in asset management for various transportation modes. The differences in current practice can provide insight into best practices and lessons learned. This paper focuses on heavy rail maintenance state of practice in the United States and compares the maintenance practices, strategies, and procedures implemented by four transit agencies across the country. The objective of the paper is to provide guidance and examples for other transit agencies in the United States to meet the short-term challenges they face and provide recommendations to improve services nationwide. This paper examines rail maintenance practices at the Metropolitan Atlanta Rapid Transit Authority (MARTA), Bay Area Rapid Transit (BART), Washington Metropolitan Area Transit Authority (WMATA), and the New York Metropolitan Transit Authority (MTA). The paper found that out of the four agencies studied, MARTA has the highest maintenance to operations budget ratio, and most of the maintenance expenditure is on labor. WMATA found that automation of inspection improved maintenance efficiency, and BART is working toward adopting more automated processes. New York City’s MTA shows an example of the importance of clear governance in effective budgeting.

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Real Estate Investment Trusts’ (REITs) Asset Management Strategies Within Global REIT Portfolios

Real Estate Management and Valuation ◽

10.2478/remav-2021-0007 ◽

2021 ◽

Vol 29 (1) ◽

pp. 72-86

Author(s):

Yasmin Mohd. Adnan ◽

Normala Lamin ◽

Muhammad Najib Razali ◽

Rohaya Abdul Jalil ◽

Zulkifli Esha

Keyword(s):

Asset Management ◽

Best Practice ◽

Management Strategies ◽

Developed Countries ◽

The United States ◽

Real Estate Investment ◽

Analysis Techniques ◽

Sustainable Performance ◽

Management Perspective ◽

The Stability

Abstract Investment in REITs has become significant in recent years due to the stability and sustainable performance of the investment. A study on the management perspective is very important but this perspective is very limited. Asset management will derive from the profit optimization of the investment. Therefore, it is important to assess asset management strategies to ensure the sustainable performance of the assets. This paper aims to assess asset management strategies among matured REIT companies in developed countries in comparison with Malaysian REIT companies from the perspective of the managers. This research employed qualitative analyses by using content analysis techniques. A total of 41 REIT companies from the United States (US), Japan, Singapore, Australia and Malaysia were assessed. The analyses focused on the similarities and differences between the strategy framework identified in the literature review and the strategies adopted by global REITs and Malaysian REITs under review. The study will enable all REIT stakeholders to become well-informed on global REIT asset management that will derive the maximum profit from the investment. The success of developed countries’ REITs will provide guidelines for Malaysian REITs to adopt the best practice of strategic asset management from REITs in mature markets. Furthermore, this study is one of few papers that have discussed the issue of strategic property investment, particularly focusing on REITs.

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An uncertain, erratic story: the pandemic in the UK

Journal of Accounting & Organizational Change ◽

10.1108/jaoc-08-2020-0125 ◽

2020 ◽

Vol 16 (4) ◽

pp. 549-555

Author(s):

Irvine Lapsley

Keyword(s):

Health Care ◽

Risk Management ◽

Asset Management ◽

Best Practice ◽

Content Type ◽

Individual Account ◽

Reform Processes ◽

The Uk ◽

The Impact ◽

Practical Implications

Purpose The purpose of this paper is to study the pandemic from the perspective of the UK health-care system and risk management. Design/methodology/approach This paper follows a storytelling perspective. The author reflects on his experiences through the lens of research on health care and risk management. Findings The impact of the pandemic has been so massive that it has challenged the capacity of the UKs National Health Service. The political influences at work have not always promoted best practice in risk management and indicate blame-avoidance strategies by politicians. Research limitations/implications A single country experience of COVID-19. Practical implications There are major issues of asset management, of delays in decision-making, of supply chain problems and the need to reform processes of handling of crisis management. Originality/value This is an individual account of experiences of the pandemic.

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Asset Management for Buildings within the Framework of Building Information Modeling Development

Decision Management ◽

10.4018/978-1-5225-1837-2.ch009 ◽

2017 ◽

pp. 133-150

Author(s):

Antonio Jesús Guillén López ◽

Adolfo Crespo Márquez ◽

Jose A. Sanz ◽

Khairy A. H. Kobbacy ◽

Samir M. Shariff ◽

...

Keyword(s):

Asset Management ◽

Building Information Modeling ◽

Information Modeling ◽

Project Delivery ◽

Facilities Management ◽

Management Tools ◽

Effective Implementation ◽

Building Information ◽

Building Operation ◽

Lifecycle Management

Buildings lifecycle management is an area of great interest. Due this, the R&D is being promoting worldwide looking for new effective maintenance tools and methodologies. In this scenario there are two development lines whose convergence can bring great advances in this area: Asset Management (AM) and Building Information Modeling (BIM). BIM models are transforming the way buildings are conceived, designed, constructed and managed. But current use of BIM concentrates on preplanning, design, construction and integrated project delivery of buildings and facilities, rather than maintenance and building operation management. Asset Management tools, including Facilities Management (FM), and application frameworks provide the approach and required elements to get more efficiency and efficacy in the building lifecycle management. This chapter introduces the application of AM for building and how the development of BIM models is the key element to allow its effective implementation.

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Significant governance factors in PPP infrastructure delivery performance in Ghana

Journal of Public Procurement ◽

10.1108/jopp-07-2019-0039 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Titus Ebenezer Kwofie ◽

Florence Yaa Akyiaa Ellis ◽

Desmond Opoku

Keyword(s):

Best Practice ◽

Management Practices ◽

Policy Research ◽

Business Environment ◽

Government Support ◽

Project Delivery ◽

Content Type ◽

Delivery Performance ◽

Team Culture ◽

Governance Practices

Purpose Inefficiencies in public-private partnership (PPP) has been attributed to deficient and poor governance practices and structures. It has been recognized that a veritable way to achieve efficiency in PPP governance is through gaining an understanding of the theoretical, practical and contextual factors that underline governance practices in PPP project delivery. The purpose of this study is to explore the significant governance factors in PPP project performance and delivery. Design/methodology/approach Using a questionnaire survey on major players in PPPs in policy, research, consultancy and professionals, the study sought to delineate the significant governance factors that impact PPP project delivery performance. Findings A step-wise multiple regression analysis revealed effective communication and openness in sharing project information systems, competent, responsible and effective project leadership, trust-building processes, systems and practices, best practice organizational and team norms, team culture, cohesion practices, effective relationship management practices, robust policy diffusion and transfer processes, friendly business environment and government support and contractual and renegotiation flexibility as the key contractual and non-contractual governance factors that can predict about 79% level of PPP project delivery performance. Social implications The findings offer support to improve PPP delivery in governance. Originality/value These findings are, thus, useful toward evolving regulatory quality governance mechanisms, flexible supervision and quality decisions that can enhance value for money in PPP projects in PPP project delivery.

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