Modelling property management decisions using ‘iconCUR’

Abstract

Making appropriate decisions concerning the ongoing management of existing built facilities is an important activity for property and facilities managers. This paper describes the development of a new conceptual framework for making better decisions about built assets at an early stage in the process, with a view to identifying which course of action to pursue. The resulting model, known as iconCUR, uses a weighted matrix methodology to obtain performance scores for condition, utilization and reward that are capable of mapping property decisions in 3D space over time. Via a case study of a real project in Sydney (Australia), the application of iconCUR is shown to be both practical and an example of decision-making using an adaptive management (or ‘learning by doing’) philosophy. The benefit of adopting iconCUR to assist with property management decisions lies in its ability to quickly assess, identify and rank available opportunities according to potential value added. The spatial coordinates that underpin the 3D model enable certainty levels to be reported objectively through measuring the distance between current property performance and optimum decision corners that define the cubic boundaries of the model.