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On successful completion of this course students will be able to:

1. Define Property Management, Facilities Management, Property Asset Management and Corporate Real Estate Asset Management (CREAM) and the operations undertaken within each.

2. Develop a variety of asset management marketing and letting strategies to support enhanced rental returns, minimize voids, enhance capital values and reduce risks.

3. Develop customer focused relationships with tenants and assess their impact upon asset maximisation.

4. Appreciate the importance of tenant mix and mall configuration in a retail context.

5. Analyse end user requirements in the office sector, using contemporary issues in CREAM to provide insight into office design and configuration.

6. Evaluate the use of appropriate software (including BIM) to support property asset management activities.

Subscription to specialist journals such as the Journal of Retail & Leisure Property by Palgrave Macmillan should be considered and available through the Universities journal subscription processes.

A key text, which students may wish to purchase, is Haynes B & Nunnington N (2010) Corporate Real Estate Asset Management, Strategy and Implementation, Routledge.

MyUni-Canvas:
All materials will be uploaded to the MyUni site or be available through the University library. Academic papers, journal articles, professional articles and appropriate data and case study information will be provided to support problem based activities using the MyUni facility. In particular, research papers and case studies produced by leading real estate consultancy firms such as CBRE and Cushman & Wakefield will provide contemporary practice based information to support you in your assessed projects.

University Email:
The School uses the University email system to get in touch with the students. So it is imperative that you check your email regularly and keep up to date with any new announcements.

Discussion Board:
The Discussion Board can be used to interact with other students and is an essential tool to discuss information and increase your understanding of issues.

The learning and teaching strategy is an active learning one, using a range of problems, application and case studies. The basic content of the course is delivered on line, however the themes will be integrated and applied using a series of case based problems and two dynamic team based assessed activities using simulations and/or real asset management case studies based in Adelaide. The approach to assessment is one of integration with teaching and “assessment for learning” rather than of learning. Interaction through peer evaluation and discussion will enrich the online experience.

Study will be highly structured but may be undertaken at the student’s convenience. Deadlines for assessment will be strictly enforced which will provide an overall framework for the semester of study.

Students are not required to attend face-to-face classes but will have access to the Program Director for face-to -face enquiries. Regular structured on line study and contact with the Course Co-ordinator is expected for the first four weeks of study. The online environment will be used to contact the Course Co-ordinator who will monitor student queries via the MyUni site on a weekly basis. Peer interaction and support will also be used to encourage active learning and create a community of practice, valuable to take forward into the assessed face-to-face projects. The initial stages of the course, acquiring the basic knowledge that underpins the application, will be assessed by the online test. Students are then required to be present in Adelaide to undertake field survey work relating to the two assessed projects. Both of these will require student team meetings, either virtual or face-to-face, and collaborative work including field surveys of the relevant sites. The projects will be intense, with a challenge based, integrative problem solving approach.

The time allocation should reflect the assessment weighting as shown in the Assessment Summary.

Essential information on property asset management concepts and approaches, definitions of activities, management strategies, analysis techniques and contemporary issues in real estate management will be dealt with by structured readings and problem based/case study exercises. The approach is progressive, building upon fundamental concepts and knowledge acquisition with increasingly complex problem based exercises. Two intensive, integrative project based challenges will test the integrated application of this knowledge in a real property environment with students working collaboratively on a complex project as a whole but with individual tasks to perform. The projects involve analysis, problem identification and solving, strategy setting and presentation. The two projects will develop a thorough understanding of how the concepts studied are applied in practice and how the concepts need to be integrated and adapted to meet the specific requirements of the case and the relevant stakeholders. Each project will also identify specific skills to be developed within it, and provide opportunities for self and peer reflection on performance and skill development.

The first project focuses on written report writing skills to a client and is based upon the critical analysis of an underperforming asset with recommendations and detailed proposals of strategies to address the underperformance and revitalise the asset.

The second project focuses on professional presentation skills, by illustrating the best solution to a corporate relocation project, which examines the requirements of a corporate client and matches them to developments in the Adelaide area. Learners must demonstrate their detailed understanding of their clients needs and match them to the most appropriate building, office configuration, space plan and stacking solution. Through this strategic and critical analysis a detailed understanding of customer requirements for real estate is provided, which can be fed forward to the design and development process. This second project will also provide opportunities for developing consulting skills, for example, in managing a “difficult” client through role-play.

ASSESSMENT TASK	COLLABORATIVE/ INDIVIDUAL	WEIGHTING	WORD COUNT/TIME	DUE DATE	LEARNING OUTCOME
Online test	Individual	20	1 hour	Week 5	1, 2, 4, 5, 6
Project 1	Individual Collaborative	15 25	Group based analysis of the current position of a retaill asset. (2000 words) Individual strategic intervention report. (2000 words)	Week 9	2, 3, 4, 6
Project 2	Individual Collaborative	15 25	Group based production of a client strategic brief for a corporate relocation.  (2000 words) Individual client solution. (Presentation slides)	Week 13	2, 3, 5, 6

On line test: multiple-choice test on basic knowledge of concepts in property asset management e.g., definitions of activities, strategic approaches to management, contemporary issues Corporate real estate management.

Project 1: a strategic analysis of an existing retail centre development. This will be conducted initially as a team exercise undertaking a strategic review of the asset management operations of a retail asset. Following feedback learners are required to formulate and present a written strategic intervention plan demonstrating how, through asset management initiatives, the performance of the asset could be enhanced. Students should address issues of tenant mix, building condition, management strategy, marketing and branding. In addition the behavioural characteristics of shoppers and the psychology of space will be examined in terms of how this can be analysed and used to support greater dwell time and spending. A cash flow analysis will be used as a vehicle to which all individual team members will contribute and then present to the client as an overall analysis of the existing centre. Following this, alternative strategies will be developed and tested against the existing analysis and a formal report of the proposals submitted to the client.

Project 2: an office based corporate relocation scenario requiring change management and incorporation of the latest thinking in corporate real estate solutions.

This project is designed to examine the tensions created by the traditional procurement of real estate between end user requirements and investor expectations. Using a simulated client students are expected to analyse the detailed needs of the client, and through role-play, appreciate the subtleties, tensions and complexities of matching offices to client needs.

The first part of the project involves the analysis of client requirements to produce a detailed “Strategic Brief” which sets out the requirements and specifications the groups believe will deliver a productive and efficient workplace for the client. This will involve examining space requirements, work activities, adjacencies and an understanding of what contemporary office users look for in buildings. This will be undertaken on a GROUP basis.

The second part of the project involves examining the available office stock in Adelaide and matching the customer requirements using a structured technique. The focus of this part of the assessment will be on an INDIVIDUAL basis and will require the production of a detailed professional presentation explaining and justifying the selection of the development, its configuration and space utilisation to match the needs of the client. This may involve an existing building capable of refurbishment or a proposal for a new building. The project will focus on an analysis of future user needs and the design, and cost /revenue implications of these. The project will give insight into the next generation of office buildings and the challenges of meeting the rapidly changing needs of office users and organisations. Students should demonstrate awareness of the tensions between designer/ developer and building end user requirements and expectations and how these may be resolved.

Role-play will be used to simulate the realities of managing a difficult client and tensions that may exist between say the Human Resources Director and the Financial Director of an organisation in this situation. Through this students will have the opportunity to develop consulting and client management skills as well as further develop their professional presentation skills.

Assessment Task	Due Date/Week	Weighting	Submission Method
1.Basic Fundamentals- application of basic principles (individual written test)	Week 4	20%	MyUni
2.Asset Management in Practice: Retail asset management - small group discovery formative assessment (group work) followed by summative INDIVIDUAL action plan report.	Week 8	40%	MyUni
3.Corporate Relocation Consultancy Project - small group discovery formative assessment (group work) followed by summative INDIVIDUAL design and implementation solution	Week 12	40%	MyUni

All assignments must be submitted by the method and no later than the time indicated above.

Note that NO LATE submissions will be accepted unless it is due to illness or other appropriate extenuating circumstances as explained in the School's Student Handbook. These must be formally approved using the appropriate University procedure.

Selected submissions of the Final Assignment may be included in the All-In Exhibition at the end of the semester.