Application value of a process model for supporting decision-making in property and real estate management
||Le Roux, Pieter
||Application value of a process model for supporting decision-making in property and real estate management
||21st Annual European Real Estate Society Conference in Bucharest, Romania
||This paper addresses the application value of a methodology that uses an organization-centered Accommodation-Choice Model (AC-Model) for improving the match between user-requirements and organizational objectives with accommodation and/or real estate (Voordt et al., 2011).The study was performed with 150 2nd-year students during the 2012-2013 / 2013-2014 Corporate Real Estate Management (CREM) curriculum of the Academy for International Real Estate and Facility Management (IREFM) at the NHTV University of Applied Sciences in Breda, The Netherlands. Objectives of the study were: (i) introduce student-professionals to the concept of using a process model for supporting evidence-based decision-making in real estate and property management, (ii) create am awareness and in-depth understanding of the relationships between organizational ambitions and conceptual decision-making, and (iii) assess differences in take-up and application between compulsory and recommended use of the process model in problem-based learning. The methodological approach focused on applying the process model to real-life case studies where new workplace concepts have been introduced. In the 2012-2013 academic year the application of the model was a mandatory component of analyzing 6 different case study work environments, while the 2013-2014 academic year theme assignment whereby students were asked to analyze the functional optimization or transformation of existing vacant office buildings, only recommended the use of the model. In executing their assignments, groups were asked to structure the execution and outcomes of their assignments according to the process model steps.The main outcomes of the study indicate (i) the applicability of the AC-Model as a central structuring element in identifying and documenting organizational ambitions / intentions and the related conceptual choices in workplace change, (ii) the benefits of interactive learning through active application of the process model, and (iii) the added value thereof in creating and increased level of awareness and professionalism amongst students in terms of evidence-based decision-making on organizational accommodation. This research brings originality to the topic of CREM-education through the application of a decision-making support model as value-adding methodology in supporting conceptual decision-making on issues related to real estate and accommodation based on organizational goals and ambitions.
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||N : Real Estate Education
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