12515 Strategic Asset Management
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particular session, location and mode of offering is the authoritative source
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Subject handbook information prior to 2025 is available in the Archives.
Credit points: 6 cp
Subject level:
Postgraduate
Result type: Grade and marksRequisite(s): 12535 Property Investment and Development Feasibility
These requisites may not apply to students in certain courses. See access conditions.
Description
A strategic and responsible approach to the management of property assets requires the ability to understand and respond to economic and social influences which affect the performance of property through a life cycle which begins with raw land and includes development, management redevelopment, and disposal. This subject examines asset management concepts and techniques as responses to changing economic and social forces in the strategic management of property assets.
Following the introduction of asset management concepts and techniques, including industry frameworks and life cycle costing, students apply these in the development of a property life cycle cost model and through the documentation of a property life cycle cost report. The report is delivered as a professional consultant report, preparing students for professional practice, both from a technical as well as from a written communications perspective. The initial focus lies on individual properties and their elemental costs.
Students are then introduced to strategic concepts focusing on asset portfolios, the implementation of a strategic asset management approach and strategic asset planning. In a group work session, students are actively engaged in developing a property portfolio strategy and presenting the strategy in a competitive evaluation scenario applying a wide range of technical, analytical, presentation and oral communication skills as well as innovation and creativity. Subsequently, students document the portfolio strategy in a strategic asset management plan, a major work combining technical, analytical and professional communication skills. Finally, students reflect on the implementation of strategic asset management in the form of an essay.
Subject learning objectives (SLOs)
On successful completion of this subject, students should be able to:
| 1. | Describe a property life-cycle and the complex economic, environmental, sociological and other influences upon performance of property assets throughout this life-cycle |
|---|---|
| 2. | Define the costs and ongoing liabilities associated with asset ownership |
| 3. | Apply a strategic approach to the management of property assets |
| 4. | Identify and analyse the scale of the major economic influences, both national and international, on performance of property assets |
| 5. | Describe how the changing needs of individuals and the community affect the performance, cost and contribution of property assets |
Course intended learning outcomes (CILOs)
This subject also contributes to the following Course Intended Learning Outcomes:
- Interpret, assess, and communicate complex relevant knowledge across the property development process to multidisciplinary stakeholders for positive outcomes. (C.1)
Contribution to the development of graduate attributes
The term CAPRI is used for the five Design, Architecture and Building faculty graduate attribute categories where:
C = communication and groupwork
A = attitudes and values
P = practical and professional
R = research and critique
I = innovation and creativity.
Course intended learning outcomes (CILOs) are linked to these categories using codes (e.g. C-1, A-3, P-4, etc.).
Teaching and learning strategies
This subject is delivered in block mode. Prior to the lectures, students are engaged by the lecturer through prerequisite reading material on asset management concepts and industry best practice.
In the blocks, students are exposed to a combination of lectures, presentations by guest lecturers, and class workshops. Active learning opportunities are integrated with each session through group discussions, class workshops where students work together in groups to analyse, document and present their findings and strategies, including a competitive evaluation scenario, and general in-class participation by students and student groups. Life-cycle costing principles are explained and discussed, and the uses of life-cycle tools and calculators as well as related MS Excel techniques are demonstrated. Lectures, life cycle tools, required reading material and additional reference material, as well as links to industry web sites are posted on UTS Online.
Assignments are an integral part of learning through the practical application of asset management concepts and techniques focussed on professional practice.
Content (topics)
General topics covered throughout this course include:
- Understanding the role of the property asset
- Objectives and benefits of asset management and the linkage to service delivery
- The asset life cycle
- Property and facilities management
- Asset information
- Life cycle costing
- Implementation of Strategic Asset Management
- Tactical application of asset management principles
- Developing strategies for asset portfolios
- Asset management plans
Assessment
Assessment task 1: Life-cycle costing model for an individual asset.
| Intent: | Students apply life cycle costing concepts and techniques to document a professional life cycle costing consultant report for an individual property. The delivery includes a written consultant report and a completed spreadsheet model to a professional standard. In line with subject learning outcomes 1 and 2 students will document a property life-cycle and the complex influences upon performance of property assets throughout this life-cycle and define the costs and ongoing liabilities associated with asset ownership. | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Objective(s): | This task addresses the following subject learning objectives: 1 and 2 This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.): .6 and C.1 | ||||||||||||
| Type: | Report | ||||||||||||
| Groupwork: | Individual | ||||||||||||
| Weight: | 20% | ||||||||||||
| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Assessment task 2: Develop a complete Asset Management Plan for the asset portfolio from the class exercise.
| Intent: | This major assessment task comprises the documentation of an Asset Management Plan to describe in full detail the strategy proposed in the asset portfolio group exercise carried out in the Second Block week. The plan addresses issues such as levels of service, future demand, life cycle management plan (maintenance, replacement & operational costs), financial summary, proposed Asset Management practices, and plan improvement and monitoring. This assignment reflects subject learning outcomes 1, 2, 3, 4 and 5 combining both practical and professional, knowledge and disciplinary content with communication and group work. A minimum of 3000 words to be submitted to UTS online. Individually submitted and assessed task. It is mandatory for this assignment to follow the Table of Contents as outlined in the course documents. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3, 4 and 5 This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.): .6 and C.1 | ||||||||||||||||||||||||
| Type: | Report | ||||||||||||||||||||||||
| Groupwork: | Individual | ||||||||||||||||||||||||
| Weight: | 55% | ||||||||||||||||||||||||
| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Assessment task 3: Report: Discuss the challenges and opportunities associated with the implementation of Strategic Asset Management within an organisation.
| Intent: | The assignment requires the student to discuss the challenges and opportunities associated with implementation of Strategic Asset Management within an organisation in an essay structure. In line with subject learning outcome 3 students will reflect on the implementation of a strategic approach to the management of property assets. A minimum of 1500 words to be submitted to UTS Online. Individually submitted and assessed task. | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Objective(s): | This task addresses the following subject learning objectives: 3 This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.): .6 and C.1 | ||||||||||||
| Type: | Essay | ||||||||||||
| Groupwork: | Individual | ||||||||||||
| Weight: | 25% | ||||||||||||
| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Required texts
The Strategic Asset Management Reader is available on UTS online together with other course materials and is a necessary component for the course. All students are requested to download their copy.
THE INSTITUTE OF ASSET MANAGEMENT (2015): Asset Management - An Anatomy, The Institute of Asset Management, Bristol (available at https://theiam.org/what-is-asset-management/anatomy-asset-management).
References
General & AM
BRAND, STEWART (1994): How Buildings Learn, Viking Penguin, USA. (UTS Library: 720.1 BRAN)
GOVERNMENT ASSET MANAGEMENT COMMITTEE (2001): Asset Maintenance - Strategic Planning, Total Asset Management (TAM2000), NSW DPWS, Sydney.
NZ NATIONAL ASSET MANAGEMENT STEERING (NAMS) GROUP & THE INSTITUTE OF PUBLIC WORKS ENGINEERING OF
AUSTRALIA (IPWEA) (2000): The International Infrastructure Management Manual – Australia/New Zealand Version.
Building Maintenance & Costs
LEE, REGINALD (1987): Building Maintenance Management, 3rd ed., Blackwell Science, Oxford. (UTS library: 658.202 LEER)
CHANTER, BARRIE and SWALLOW, PETER (1996): Building Maintenance Management, Blackwell Science, Oxford
(UTS library: 658.202 CHAN)
MEANS COMPANY INC. (1996): Cost Planning & Estimating for Facilities Maintenance, R.S. Means, Kingston MA
(UTS library: 658.202 COST)
JARDINE, A.K.S. and TSANG, A.H.C. (2006): Maintenance, Replacement, and Reliability – Theory and Applications, CRC Press Taylor & Francis, Boca Raton FL. (UTS library: 658.202 JARD)
LANGSTON, CRAIG (1991): The Measurement of Life Costs, NSW DPWS, Sydney, Additional Readings on Property Development & Finance Basics
WILSON, C and KEERS, B (1993): Introduction to Financial Management, 2nd ed, Prentice Hall, Sydney. (UTS library: 658.15 WILS (1993 ED))
WILKINSON, SARAH and REID, RICHARD (2008): Property Development, 5th ed, Rutledge, New York (UTS library: 333.7315 CADM)
DAVID ISAAC (1996): Property Development Appraisal and Finance, Macmillan (UTS library: 332.6324 ISAC)