chapter  10
39 Pages

Performance

How to measure and benchmark the performance of corporate real estate

This chapter aims to explore the practical side of benchmarking and real estate performance measurement. Benchmarking is frequently divided into six or seven types in the main literature; here we have briefly reviewed each type and provided examples: Because of the costs involved in obtaining data, it is imperative to concentrate on those factors that are key to success. The chapter examines specific details more closely, but at this stage it focuses on two typical examples: customer satisfaction and the bottom-line. It needs to analyse the information and work out what it means for us. Performance, as a component of our 10P model, is one of the two outputs that can be expected when the eight principal components are strategically aligned. Here we focus on the measurement of that performance both in absolute and relative terms. The demands on the Corporate Real Estate Asset Management (CREAM) professional require both efficient and effective CREAM provision.