Monique Arkesteijn
414 pages
ISBN 978-94-6366-226-0
Published:
2019-12-04
Book (Full version)
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One of the long-standing issues in the field of corporate real estate management is the alignment of an organization’s real estate to its corporate strategy. In the last thirty years, fourteen Corporate Real Estate (CRE) alignment models have been made. In some of these CRE alignment models it is indicated that they strive for maximum or optimum added value. Even though extensive research into these existing CRE alignment models has provided us with valuable insights into the steps,...
Book Chapters
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Corporate Real Estate
Corporate real estate is real estate that is necessary for an organization to conduct its business. CRE can be owned or leased space and is different than commercial real estate. CoreNet Global (2015) describes that in commercial real estate, real estate is core business, and the goal is to provide a risk adjusted return to the investor; whereas, in corporate real estate, real estate supports the business function. Corporate real estate...
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This dissertation aims to enhance CRE alignment by approaching alignment as a design and decision process as is explained in chapter 1. The current state of the art in CRE alignment modeling is summarized in paragraph 2.1. This sets the context of this research and will show that CRE alignment is complex and multidimensional. Thereafter, an assessment of CRE alignment models from a design and decision perspective is made in paragraph 2.2. Based on this perspective I identified the...
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In this chapter, using basic concepts and definitions from management science, decision theory and design methodology, I shall outline the methodological aspects, characteristics and features of the Preference-based Accommodation Strategy (PAS) design and decision system, which I developed for the formation of a corporate accommodation strategy.
This outline serves first and foremost as a simple way of representing and modeling the PAS design decision system. It also enables the...
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One of the long-standing issues in CREM is the alignment of an organization’s real estate to its corporate strategy as I have shown in chapter 2. CRE alignment is even defined by some as the raison d’être of CREM, as the range of activities undertaken to attune corporate real estate optimally to corporate performance. Even though extensive research into existing CRE alignment models has provided us with valuable insights into the steps, components and variables that are needed in the...
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The focus in this chapter is on the component steps of PAS (see Figure 5.1 and Figure 5.2). CRE alignment is achieved, as has been shown in chapter 4, if stakeholders can use PAS successfully. PAS is successful if the stakeholders are able to perform each step of PAS. I assume that the stakeholders can perform steps 1 (specifying decision variables), 3 (assigning weights) and 4 (determining design constraints) because these type of steps are part of other multi criteria decision analysis...
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PAS consists of three main components; steps, stakeholders & activities, and mathematical models, as explained in chapter 4. In this chapter, the stakeholders & activities are the focal point (see Figure 6.1). By explaining the interactive design process in detail, the reader understands how the stakeholders perform the activities to achieve alignment between the organization and the corporate real estate portfolio.
The stakeholders & activities are displayed in the...
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The focus in this chapter is on the component mathematical models of PAS (see Figure 7.1 and Figure 7.2). PAS can only be performed if the system engineers are able to build a mathematical model of the problem situation for each of the pilot studies. In this chapter, I will show that the system engineers were able to do this for all three pilots.
Typically, a subset of the alternative is infeasible. When the feasible set of alternatives can be characterized mathematically, the PFM...
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In this chapter the evaluation of PAS will be discussed. The use of PAS has been extensively reported in chapters 5 (steps), 6 (stakeholder & activities) and 7 (mathematical model). The use of PAS has been successful, this means that stakeholders are able to use PAS. In this chapter the evaluation of the stakeholders of PAS is discussed. This answers the question if the stakeholders want to use PAS.
Recall, that PAS comprises of steps, stakeholders & activities, and...
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By now, the PAS design decision method is familiar and it is known that:
1 The Preference-Based Design procedure could be adapted and implemented into an accommodation strategy formation project so that it can be used at real estate portfolio level in CRE alignment process (see chapter 4);
2 The stakeholders were able to perform all PAS design decision steps and accepted the outcome (see chapter 5 and 6);
3 The facilitator and the systems engineers were able to...
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Even though extensive research into existing CRE alignment models has provided us with valuable insights into the building blocks, components and variables that are needed in the alignment process, these models still fall short in two ways. Most models pay little to no attention to (1) the design of new CRE portfolios and (2) the selection of a new CRE portfolio that adds the most value to the organization. With the development of a new approach, the Preference-based Accommodation Strategy...
