Value Adding Management (VAM) of buildings and facility services in four steps

Theo Van Der Voordt, Per Anker Jensen, Jan Gerard Hoendervanger and Feike Bergsma

Corporate Real Estate Journal, 2016, vol. 6, issue 1, 42-56

Abstract: This paper presents a new Value Adding Management (VAM) model that aims to support decision makers in identifying appropriate interventions in buildings, other facilities and services that add value to the organisation, to manage its implementation, and to measure the output and outcomes. The paper builds on Value Adding Management theories and models that use the triplet input-throughput-output, a distinction between output, outcome and added value, and concepts, theories and data on the impact of interventions in corporate real estate and facility services, change management and performance measurement. Furthermore, input has been used from a cross-chapter analysis of a new book in which 23 authors from five different European countries present a state of the art of theory and research on 12 value parameters: satisfaction, image, culture, health and safety, productivity, adaptability, innovation, risk, cost, value of assets, sustainability and Corporate Social Responsibility. The new VAM model follows the steps from the well known Plan-Do-Check-Act cycle, which are supported by various tools that were found in the literature or came to the fore in the state-of-the-art sections. In order to be able to select appropriate interventions in the Plan-phase, this paper includes a typology of typical interventions in corporate real estate and facility services that may add value to the organis­ation. The Check-phase is supported by an overview of ways to measure the 12 value parameters and related Key Performance Indicators (KPI). The new Value Adding Management model connects Corporate Real Estate Management (CREM) and Facilities Management (FM) with general business management in order to align CREM/FM interventions to the organisational context and organisational objectives. The VAM model opens the black box of input-throughput-output-outcome and is action oriented due to the connection to various management and measurement tools.

Keywords: added value; FM; CREM; Plan-Do-Check-Act; interventions; KPI (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:aza:crej00:y:2016:v:6:i:1:p:42-56

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