RICS: Global push to reduce assets and space

The study found that public sector asset managers see an increasing need to decrease the total amount of physical assets and space within their respective nations

The study also found that a number of governments have accumulated a substantial backlog of deferred maintenance amongst their portfolios.
The study also found that a number of governments have accumulated a substantial backlog of deferred maintenance amongst their portfolios.

The Royal Institution of Chartered Surveyors (RICS) has revealed findings of an asset management study of the global public sector.

Titled Public Sector Asset Management: Roundtable Report, the study found that public sector asset managers from across the globe believe that the total number of both physical assets and space needs to decrease, within their respective nations.

The study also found that a number of governments have accumulated a substantial backlog of deferred maintenance amongst their portfolios. Conclusions formed from managers found that traditional methods of managing assets are unsustainable.

Additional concerns reported by managers include the lack of standardized training and education to attract and develop talent.

Commenting on the report, James B. Balocki, chief executive officer, U.S. Army Reserve Command, shared; “This research identifies a number of findings that enhance our understanding of public sector asset management.”

He added: “The framework suggested here points us in that direction and will be helpful as we look to a future with even greater need to find efficiencies in the employment and sustainment of our real property assets.”

Kristin Bammel, who managed the project for RICS, pointed out that the study breaks new ground. “This research is the first of its kind on a global scale and although the results may not come as a surprise to some, it is important to see that issues in public asset management are not local but global.

“This research is also a good starting point for both the industry and RICS to do more in-depth studies in specific directions as well as for the development of applied training and education.”

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020