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A portfolio approach to optimizing facility performance involves a comprehensive assessment of the facility with respect to three aspects: the quality of the work environment, the operating and maintenance costs of the building fabric and systems, and the asset value of the property. Basic to this method is that individual properties within a facility will perform well in some of these aspects, but will also often perform poorly in others. Evaluation of the facility as a portfolio establishes a strategy for this diversity of performance of the individual properties. Of importance is the performance of the portfolio as a whole, and this involves correlations and trade-offs between the three aspects in order to optimize resources and reduce risk. The performance objectives of the portfolio are to provide the variety of work environments necessary for the operation of the organization, to minimize the operating and maintenance costs, and to maximize the value of the real estate assets, these being relevant to the strategic objectives of most organizations. A theoretical description of the approach is presented.
facility performance evaluations, facility portfolio, work-environments, o&m costs, asset value