Strategic Management of University Real Estate supported by BIM

Abstract

In this research the case of the Greek university Aristotle University of Thessaloniki is addressed, focusing on the university's real estate property, as one of its corporate resources. In this sense, real estate decision making is related with the performance of the organization. The main research question has been formulated as: "In which ways the decision making for A.U.Th. real estate can further be professionalized?" After assessing and evaluating the CRE portfolio of the university, the faculty in which the biggest deviation from the adopted standards was observed, is selected; the School of Journalism and Media. With the research being process oriented, dealing with a management problem, a plan of action for the specific building case is designed. The designed process is not only suitable for the specific organization examined in the research, but it can be applied in CREM cases in general. In a sense, the research as well as its end product suggest a CREM approach that is about the life-cycle of real estate, in different levels. In fact, the management of consequent cycles of real estate depending on the selected time frame (from short term, 1-2 years to long-term, 10 years or more), in which input and output information should be weighted and assessed, generating strategic insights. The research concludes with recommendations for the evolution of the A.U.Th.'s CREM; from a reactive incremental approach of the past, to a rational assessment of today, which will initially tackle the current problem and consequently lay the foundations for a sustainable long-term development.