A step-by-step plan to manage and measure adding value by FM/CREM
Theo van der Voordt (TU Delft - Real Estate Management)
Per Anker Jensen (Technical University of Denmark (DTU))
Jan Gerard Hoendervanger (Hanze Hogeschool Groningen)
Feike Bergsma (Saxion University of Applied Sciences)
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Abstract
This conference paper presents a new Value Adding Management model that aims to support decision makers in identifying appropriate interventions to 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 including the triplet input-throughput-output, a distinction between output, outcome and added value, the Plan-Do-Act-Check cycle, change management and performance measurement. The paper is based on a literature review and a cross-chapter analysis of a book, where authors from different European countries present a state of the art of theory and research on 12 value parameters, how to manage and measure each value, and to discuss the costs and benefits of typical FM and CREM interventions to enhance satisfaction, image, culture, health and safety, productivity, adaptability, innovation, risk, cost, value of assets, sustainability and Corporate Social Responsibility. The new Value Adding Management model follows the steps from the well-known Plan-Do-Check-Act cycle. The four steps are supported by various tools that were found in the literature or came to the fore in the state-of-the-art sections of the 12 value parameters. Furthermore an overview is presented of ways to measure the 12 value parameters and related Key Performance Indicators.