Operational management is a central part of responsible property management. It is important that up-to-date information about a property’s characteristics, equipment and operating systems, and the way that these elements interact with the environment, is collated and acted upon.
Operational management includes integrating information management systems within a property’s management, maintenance and monitoring strategies, and meeting the environmental data requirements of asset managers and occupiers.
A range of information about a property should be stored and accessible to stakeholders. This information may relate to, for example, a property’s construction, installed equipment, operating systems and risks, and can inform asset and property management strategies.
Ideally, this information will be included in a single Asset Register, however, the information may be stored in multiple locations. It’s important that property managers have clarity about the information they are responsible for providing and the process for maintaining it.
Property managers should identify information that is missing from a property’s Asset Register and consider how such information could be obtained. When acquiring a property, it is important to check that a property manager has all necessary information from the vendor.
Through engagement between asset and property managers, an informed view can be made regarding the need for, and approach to, sourcing missing information types. This may involve, for example, commissioning surveys or installing monitoring equipment.
Property level data relating to, for example, utilities, waste, occupancy and ambient conditions, is becoming more accessible as a result of remote monitoring and interconnected systems.
Alongside improved efficiency and data integrity, this enables asset managers to integrate property information within centralised portfolio management processes. For example, energy management systems, planned preventative maintenance and accounting systems.
Property managers can support this by identifying opportunities for, and managing the installation and maintenance of, automated property data systems and platforms.
Property managers are often integral to the provision of information required by asset managers for corporate reporting. This may include data relating to, for example, waste, energy and water consumption.
Property and asset managers should undertake an annual review to agree the type, frequency and process for the provision of property data.
A monitoring strategy should be prepared to track performance against operational action plans and ongoing property reporting requirements.
A maintenance strategy should be prepared to identify maintenance requirements for installed assets, including informing relating to newly installed or modified equipment.
Sustainability improvement opportunities are identified through ongoing review and monitoring of operational action plans. These opportunities should be considered as part of the asset and property management cycle and annual budget process.
Property managers should engage asset managers and occupiers to discuss how improvement initiatives can be financed. For example, capital expenditure programmes or service charges.