ABSTRACT
This paper reports on part of the findings of a research project that investigates organisations’ response to the management of the operational property assets (real estate) as a supporting corporate resource. The focus of the research is to provide a business perspective to the role of operational property assets in supporting the fulfilment of corporate business plans and its implications on internal competency required to continuously align the corporate physical assets to emerging busines plans. This paper reports on the outcome of one of the research propositions—that the practice of Real Estate Asset Management (REAM) can be mapped as an incremental management development model. The model seeks to integrate the demands arising from strategic business decisions to the delivery of operational factilities and associated support services as a dynamic management process.
The research substantiates the crucial importance of promoting organisational effectiveness in REAM by monitoring three organisational variables that formed the basis of an evaluation model—structure, processes and competencies. The papers reports on the developmental ‘shifts’ that are essential for many organisations moving from a reactive to a proactive mode of management of its operational real estate assets.
