An overview of Property Standard Index
Property Standard Index - a range of uses in portfolio management
The Property Standard Index is a decision support model which assists property portfolio managers to make informed strategic decisions about the management of their properties.
The Property Standard Index model allows the Department of Housing to improve its decisions in relation to the management and use of its residential properties, both single properties and overall portfolio.
The Property Standard Index provides a new objective basis for a number of portfolio management activities such as:
- maintenance and upgrade planning and delivery;
- forecasting and measuring the effects of investment;
- managing the movement in the portfolio towards agreed standards of amenity;
- annual valuation and depreciation processes; and
- asset management decision-making.
For example, the department may objectively specify the desired Property Standard Index for its dwellings and calculate the gap between any building or group of buildings and the desired index. This gap can easily be converted to dollars and actions needed to close the gap.
The department's property managers have found many uses for this Property Standard Index tool. The tool's flexibility and power creates new possibilities almost every day. Ongoing enhancements to the tool will enable these possibilities to be fully explored.
Last updated 07 July 2005
Other languages