Economics of Property Management: The Building as a Means of Production

; Frank Heynick

Economics of Property Management: The Building as a Means of Production

The economic analysis of a building is a complex subject and traditionally it has focused on a single aspect of the structure or a single part of the construction process. Les mer
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Economics of Property Management: The Building as a Means of Production

The economic analysis of a building is a complex subject and traditionally it has focused on a single aspect of the structure or a single part of the construction process. Dr Tempelmans Plat is a leading proponent of a new methodology which focuses on the building as a stock of services to be supplied over a long lifespan. This method is more realistic since it takes into account the changes in use and the adaptation of the building over its life. This book will be the first to make this method comprehensible to a wide audience of postgraduate students and professionals in the field of construction economics.

Foreword by John Habraken, Preface, Acknowledgments, INTRODUCTION, Structure of the book, Part One: PRODUCTION OF A BUILDING AND USE OF ITS SERVICES, Chapter I.1. Introduction, Chapter I.2. Use of a Building as Means to the Ultimate Goal, 2.1. Production of a building as a product, 2.2. Use of a building's services, 2.3. Exploitation as intermediate process, 2.4. Conclusion, Chapter I.3. Service and Technical Solution, 3.1. The performance concept, 3.2. Condition, service and solution, 3.3. A problem of transformation, 3.4. Dimensions of demand and of supply definition, 3.5. Maximisation of the solution space, 3.6. Conclusion, Chapter I.4. Levels in the Built Environment, 4.1. The building in a system of levels, 4.2. Levels and life spans: change, 4.3. Responsibilities, 4.4. Conclusion, Chapter I.5. Agents in the Building Process, 5.1. Three processes, 5.2. Use of the building's services: demand planning, facilities management, 5.3. Exploitation of the building: intermediate role of property management, 5.4. Production of the building: design and contracting, 5.5. Advise and intervention, 5.6. Conclusion, Chapter I.6. Time and Change: Relating Money, Technique and Environment, 6.1. Money and technique: contradiction?, 6.2. Change: balance of expenditures, 6.3. Economics and sustainable building, 6.4. Conclusion, Chapter I.7. Summary, Part Two: COST CALCULATION AND VALUATION AS BASIS FOR DECISION-MAKING - A THEORETICAL FRAMEWORK, Chapter II.1. Introduction, Chapter II.2. Short Planning Period Versus Long Life Span, 2.1. Investor and the building, 2.2. User and the building, 2.3. Designer, contractor and the building: frequent return , 2.4. Periods and life spans: a set of definitions, 2.5. Life span and cost calculation, 2.6. Conclusion, Chapter II.3. Annual Cost Calculation, 3.1. Expenditures to be transformed into costs
3.1.2. Total discounted costs or annual costs, 3.1.3. Financing expenses not as cost estimate , 3.2. Transformation of the investment expenditure: depreciation, 3.2.1. The goal of depreciation, 3.2.2. A building as a stock of services, 3.2.3. Economic life span as depreciation period, 3.2.4. Degressive depreciation on a building as an entity, 3.2.5. Progressive depreciation on separate parts of a building, 3.2.6. Progressive and degressive depreciation combined, 3.2.7. No depreciation on land, 3.3 Maintenance, adaptation and decomposition , 3.3.1 Maintenance versus adaptation, 3.3.2 Adaptation: refurbishment, renovation and upgrading, 3.3.3. Adaptation: decomposition and installation activities, 3.3.4. Final demolition, 3.3.5. Disposal cost, 3.4. Annual total cost calculation, 3.4.1. Annual total costs of a separate service, 3.4.2. Annual total costs of a set of services, 3.4.3. A decomposition scenario; no LCC needed, 3.5. Steps in decision-making: demand definition and cost calculation, 3.6. Conclusion, Chapter II.4. Property Valuation, 4.1. Change of the stock of services , 4.1.1. Stock of services, 4.1.2. Identical replacement, 4.1.3. Non-identical replacement, 4.2. Resale value of a building, 4.2.1. Maintenance fund, 4.2.2. Demolition fund, 4.2.3. Building value: value of stocks of services minus funds, 4.3. Property value: land and building, 4.3.1. Value of land, 4.3.2. Property value
4.4. Conclusion, Chapter II.5. Price Changes, Property Value and Annual Costs, 5.1. Price changes

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