Asset Management (Real Estate)
Competency Title:
Asset Management (Real Estate)
Competency Type:
Functional
Competency Description
This competency refers to the ability to optimise the performance of real estate assets to achieve REIT objectives. The scope includes evaluating the profitability of the asset and planning of the acquisition, creation and/or disposal of the appropriate assets in the asset portfolio.
Level 1 - Awareness
Level 1
• Recognise the different classes and attributes of real estate assets.
• Identify standards and/or principles used in asset performance management.
Level 2 - Knowledge
Level 2
• Identify tools and techniques to analyse costs and demands for assets.
• Explain the costs, risks and benefits relationships in asset investment.
• Describe the concepts of Whole-life Costing and Value Optimisation in relation to asset management.
Level 3 - Skill
Level 3
• Use appropriate tools and techniques to forecast and analyse costs and demands for the assets.
• Analyse the needs for creation and/or acquisition of assets based on the requirements of the REIT scheme.
• Analyse the costs, risks and benefits of asset creation, acquisition and/or disposal options.
Level 4 - Mastery
Level 4
• Develop key strategies for the asset portfolios and/or asset groups that support strategic aims and objectives.
• Specify appropriate performance indicators for assessment of asset creation and/or acquisition.
• Assess asset condition and performance against investment strategy and objectives.
Level 5 - Expert
Level 5
• Evaluate the implications of current and forecast asset condition on the asset strategies.
• Review and influence asset creation and/or acquisition policy to achieve optimum asset life-cycle performance.
• Review and align asset management strategies to investment strategy and objectives.