PROP 7003EX - Property Asset Management
External - Semester 2 - 2017
General Course Information
Course Code PROP 7003EX Course Property Asset Management Coordinating Unit School of Architecture and Built Environment Term Semester 2 Level Postgraduate Coursework Location/s External Units 3 Available for Study Abroad and Exchange N Restrictions M. Prop, M. Plan, M. Arch Course Description All developments require asset management after completion. This course is designed to explore this management process. The course will examine asset management strategies designed to enhance value, mitigate the impacts of depreciation and obsolescence and provide a clean, safe, sustainable and attractive environment.
Course Coordinator: Nicholas Nunnington
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning Outcomes
1. Define Property Management,Facilities Management, Property Asset Management and Corporate Real Estate
Asset Management (CREAM) and the operations undertaken within each
2. Develop a variety of asset management marketing and letting strategies to support enhanced rental returns,
minimize voids, enhance capital values and reduce risks.
3. Develop customer focused relationships with tenants and assess their impact upon asset maximisation.
4. Appreciate the importance of tenant mix and mall configuration ina retail context.
5. Analyse end user requirements in the office sector from an understanding of contemporary issues in CREAM to provide insight into office
design and configuration
6. Evaluate the use of appropriate software (including BIM) to support property asset management activities.
University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Deep discipline knowledge
- informed and infused by cutting edge research, scaffolded throughout their program of studies
- acquired from personal interaction with research active educators, from year 1
- accredited or validated against national or international standards (for relevant programs)
1,2,4,5,6 Critical thinking and problem solving
- steeped in research methods and rigor
- based on empirical evidence and the scientific approach to knowledge development
- demonstrated through appropriate and relevant assessment
2,3,5,6 Teamwork and communication skills
- developed from, with, and via the SGDE
- honed through assessment and practice throughout the program of studies
- encouraged and valued in all aspects of learning
3,5 Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
2,3,4,5,6 Intercultural and ethical competency
- adept at operating in other cultures
- comfortable with different nationalities and social contexts
- able to determine and contribute to desirable social outcomes
- demonstrated by study abroad or with an understanding of indigenous knowledges
3,5 Self-awareness and emotional intelligence
- a capacity for self-reflection and a willingness to engage in self-appraisal
- open to objective and constructive feedback from supervisors and peers
- able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
Online LearningAll resources required to complete this course are available on the Course MyUni site.
Learning & Teaching Activities
Learning & Teaching ModesThe learning and teaching strategy is an active learning one, using a range of problems, application and case studies. The basic content of the course is delivered on line, however the themes will be integrated and applied using a series of case based problems and two dynamic team based assessed activities using simulations and/or real asset management case studies based in Adelaide. The approach to assessment is one of integration with teaching and “assessment for learning” rather than of learning. Interaction through peer evaluation and discussion will enrich the online experience.
Study will be highly structured but may be undertaken at the students convenience. Deadlines for assessment will be strictly enforced which will provide an overall framework for the semester of study.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
Students are not required to attend face to face classes but will have access to the program co-ordinator for face
to face enquiries. Regular structured on line study and contact with the course co-ordinator is expected for the first four weeks of study. The online environment will be used to contact the course co-ordinator who will monitor student queries via the MyUni site on a weekly basis. Peer interaction and support will also be used to encourage active learning and create a community of practice, valuable to take forward into the assessed face-to-face projects.
The initial stages of the course, acquiring the basic knowledge that underpins the application, will be assessed by the online test. Students are then required to be present in Adelaide to undertake field survey work relating to the two assessed projects. Both of these will require student team meetings, either virtual or face-to-face, and collaborative work including field surveys of the relevant sites. The projects will be intense, with a challenge based, integrative problem solving approach.
The time allocation should reflect
the assessment weighting in the schedule below.
Learning Activities Summary
Essential information on property asset management concepts and approaches, definitions of activities, management
strategies, analysis techniques and contemporary issues in real estate management will be dealt with by structured readings and problem based/case study exercises. The approach is progressive, building upon fundamental concepts and knowledge acquisition with increasingly complex problem based exercises. Two intensive, integrative project based challenges will test the integrated application of this knowledge in a real property environment with students working collaboratively on a complex project as whole but with individual
tasks to perform. The projects involve analysis, problem identification and solving, strategy setting and presentation. The two projects will develop a thorough understanding of how the concepts studied are applied in practice and how the concepts need to be integrated and adapted to meet the specific requirements of the case and the relevant stakeholders. Each project will also identify specific skills to be developed within it, and provide opportunities for self and peer reflection on performance and skill development.
The first project focuses on writtenreport writing skills to a client and is based upon the critical analysis of an underperforming asset with recommendations and detailed proposals of strategies to address the underperformance and revitalise the asset.
The second project focuses on professional presentation skills, by illustrating the best solution to a corporate relocation project, which examines the requirements of a corporate client and matches them to developments in the Adelaide area. Learners must demonstrate their detailed understanding of their clients needs and match them to the most appropriate building, office configuration, space plan and stacking solution. Through this strategic and critical analysis a detailed understanding of customer requirements for real estate is provided, which can be fed forward to the design and development process. This second project will also provide
opportunities for developing consulting skills, for example, in managing a “difficult” client through role-play.
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Asessment task Individual/ group Weighting Word count/ time Due date Learning outcome On line test Individual 20 1 hour 5 1,2,4,5,6 Project 1 Collaborative 40 2000 words 9 2,3,4,6 Project 2 Collaborative 40 20 min presentation, Q & A + 1000 word Executive summary 13 2,3,5,6
On line test:
Multiple-choice test on basic knowledge of concepts in property asset management e.g., definitions of activities, strategic approaches to management, contemporary issues Corporate real estate management.
a strategic analysis of an existing retail centre development. This will be conducted as team exercise but individual tasks will be allocated and assessed. Students should address issues of tenant mix, building condition, management strategy marketing and branding. In addition the behavioural characteristics of shoppers and the psychology of space will be examined in terms of how this can be analysed and used to support greater dwell time and spending. A cash flow analysis will be used as vehicle to which all individual team members will contribute and then present to the client as an overall analysis of the existing centre. Following this, alternative strategies will be developed and tested against the existing analysis and a formal report of the proposals submitted to the client.
An office based relocation scenario. This project is designed to examine the tensions created by the traditional procurement of real estate between end user requirements and investor expectations. Using a simulated client students are expected to analyse the detailed needs of the client, and through role-play, appreciate the subtleties, tensions and
complexities of matching offices to client needs.
The first part of the project
involves the analysis of client requirements to produce a detailed “Strategic Brief” which sets out the requirements and specifications the groups believe will deliver a productive and efficient workplace for the client. This will involve examining space requirements, work activities, adjacencies and an understanding of what contemporary office users look for in buildings.
The second part of the project involves examining the available office stock in Adelaide and matching the customer requirements using a structured technique. The focus of the assessment will be on a detailed professional presentation explaining and justifying the
selection of the development, its configuration and space utilisation to match the needs of the client. This may involve an existing building capable of refurbishment or a proposal for a new building. The project will focus on an analysis of future user needs and the
design, and cost /revenue implications of these. The project will give insight into the next generation of office buildings and the challenges of meeting the rapidly changing needs of office users and organisations.
Students will work collaboratively on the same building but be allocated discreet tasks and be expected to present the final output as team effort. Students should demonstrate awareness of the tensions between designer/ developer and building end user requirements and expectations and how these may be resolved.
Role-play will be used to simulate the realities of managing a difficult client and tensions that may exist between say the Human Resources Director and the Financial Director of an organisation in this situation. Through this students will have the opportunity
to develop consulting and client management skills as well as further develop their professional presentation skills.
SubmissionSubmission of all assessment pieces is via MyUni.
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending
Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
- Academic Support with Maths
- Academic Support with writing and speaking skills
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