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Realizing the Strategic Dimensions of Corporate Real Property Through Improved Planning and Control Systems

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Abstract

This paper presents a methodology that addresses the fundamental question: How can a firm maintain congruence between its real property portfolio and its strategic objectives during time of rapid economic change? The methodology is based on established planning and control theory and is discussed in terms of an actual case involving Digital Equipment Corporation. It is intended for firms, such as Digital, that have a large real property portfolio, but that are not primarily in the real estate business. After the planning and control implications of the question are elucidated, the problem with existing real property management planning and control systems is considered, followed by a three-part explanation of the methodology aimed at improving the systems. The first part focuses on the process used to develop an appropriate set of real property performance indicators, and the second part deals with the statistical techniques used to effectively monitor the set over time. Finally, these concepts are discussed in the context of a decision support system architecture for real property management.

Suggested Citation

  • Stellan Lundstrom, 1993. "Realizing the Strategic Dimensions of Corporate Real Property Through Improved Planning and Control Systems," Journal of Real Estate Research, American Real Estate Society, vol. 8(4), pages 495-510.
  • Handle: RePEc:jre:issued:v:8:n:4:1993:p:495-510
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    References listed on IDEAS

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    1. Peter R. Veale, 1989. "Managing Corporate Real Estate Assets: Current Executive Attitudes and Prospects for an Emergent Management Discipline," Journal of Real Estate Research, American Real Estate Society, vol. 4(3), pages 1-22.
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    Cited by:

    1. Chris Manning & Stephen E. Roulac, 2001. "Lessons from the Past and Future Directions for Corporate Real Estate Research," Journal of Real Estate Research, American Real Estate Society, vol. 22(1/2), pages 7-58.
    2. Christopher A. Manning & Stephen E. Roulac, 1996. "Structuring the Corporate Real Property Function for Greater "Bottom Line" Impact," Journal of Real Estate Research, American Real Estate Society, vol. 12(3), pages 383-396.
    3. Linda Ellis Johnson & Arnold L. Redman & John R. Tanner, 1997. "Utilization and Application of Business Computing Systems in Corporate Real Estate," Journal of Real Estate Research, American Real Estate Society, vol. 13(2), pages 211-230.
    4. Hugh O. Nourse, 1994. "Measuring Business Real Property Performance," Journal of Real Estate Research, American Real Estate Society, vol. 9(4), pages 431-444.
    5. Stephen E. Roulac, 2001. "Corporate Property Strategy is Integral to Corporate Business Strategy," Journal of Real Estate Research, American Real Estate Society, vol. 22(1/2), pages 129-152.
    6. Christopher A. Manning & Mauricio Rodriguez & Stephen E. Roulac, 1997. "Which Corporate Real Estate Management Functions Should be Outsourced?," Journal of Real Estate Research, American Real Estate Society, vol. 14(3), pages 259-274.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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