TIAS executor of "new generation benchmark" for municipalities
March 9, 2016
New times have come for the Real Estate Benchmark for municipalities. The successor of the IPD benchmark is no longer a voluminous report, but an online application enabling the real estate manager to compare his portfolio with reference municipalities at any time. No more lists, but an insight with the help of "big data". Ingrid Janssen, Associate Professor of Real Estate Management at TIAS: "It is time for the new generation of benchmark for municipalities."
TIAS School for Business and Society is going to develop and implement the new Real Estate Benchmark for municipalities. Agreements to this effect have been made with the Real Estate Managers who are active within the network of Bouwstenen voor Sociaal (Building blocks for Social, the real estate guide). The Business School, also executor of the VGM Benchmark for the commercial real estate sector, proved to be the designated party to arrange a follow up to the IPD Benchmark for municipalities which was terminated in 2015.
The municipal real estate benchmark "new style" will not be a voluminous report, promised Dr. Ir. Ing. Ingrid Janssen, Associate Professor of Real Estate Management at TIAS. "Municipalities will receive an online application with a dashboard showing different performances, such as rental income, subsidies, running costs and the number of available square meters per inhabitant. With this, asset managers will be able to compare their real estate portfolio per policy area with the average of all participants. So for instance they can compare a sports hall with sports facilities in comparable municipalities."
A second motivation is the use of open data sources. Janssen: "We are going to enrich the information provided to us by municipalities with public information. For instance, what is the number of square meters of a facility per user group? In order to provide an answer to this question, we will supplement the data from the municipalities with data from Statistics Netherlands and Kadaster (the Netherlands’ Cadastre, Land Registry and Mapping Agency)."
According to Janssen, this is a first step in applying "big data" in the benchmark project. "There are very interesting possibilities. Consider the wealth of information released once we link digital sources such as Google Maps with the data already present!"
Keep data manageable
This year TIAS will already start benchmarking. The benchmark information will be published in annual reports. Janssen is also looking forward to analyses in which specific queries will be researched in more detail. "We will be able to compare facilities with each other at a user level, for instance culture with culture, sport with sport."
TIAS will also use the acquired knowledge as input for its Executive Master of Real Estate. "We consider it to be important to partly base our education on our own research. In the block "Steering with real estate", a lot of attention is paid to business analytics and asset management. Participants learn how they, as asset managers, can extract the correct data from an operation and how they can base strategic steering on this basis. Thanks to the municipal benchmark and the VGM Benchmark, we can make a direct connection between theory and practice."
Executive Master of Real Estate
TIAS School for Business and Society will start with a new Executive Master of Real Estate on September 01, 2016. This part time course for real estate professionals puts the challenges in present-day real estate practice central. The first block is "Steering with real estate: with lots of attention for asset management and business analytics. More information about this masters course?
Read more about this master or apply online