In order to define the cast Property Management and Investment, one must analyse it purely in respect of science. The science of property management and property investment can best be defined by firstly identifying what the term “property” means. It is said to be the management of fixed assets ranging from clubs, private homes, resorts or hotels, and schools. The management spectrum of properties is viewed as the managing of these assets on behalf of the assets’ owner for compensation. For instance, Robert and Floyd define the process as one that excludes the direct involvement of the owner of the asset as the person of management, but rather the owner usually wages the work performed on his/her behalf (Robert & Floyd, 1998).
With the understanding that the management of properties stretches beyond the usual misconceptualized ideology that it merely refers to a landlord or person who is entitled to the collection of rentals and the granting of leases, it is worth noting that though my duty is mainly operational, I also will largely ensure that at least five other functionalities are realized. In the management of the Maxwell Building, every blade of space has the potential of providing revenue to the client, The University of Salford, through leasing arrangements that will be discussed in this project. The revenue will mostly arrive as rental collections. This very revenue is of a focused nature as all available utilities will be paid for and I will make advancements towards the essential establishment and maintenance of the client-manager relations.
The highest degree of satisfaction (the product mix) can be achieved only through a multidisciplinary approach. This is when new strategies will emerge with the sole aim of eradicating existing problems that are beyond the ordinary experienced ones and providing a suitable solution derived from an understanding of the problem or problems themselves. In 1926, Jan Smuts described multidisciplinary people as those with holism as the invested view rather than reductionism.
Though the University of Salford has seen that the Maxwell Building is a surplus to the requirements needed by it, a vast pool of financial securities can appear through ownership of such a building rather than renting an asset of its particular nature. It is, thus, wise to commence management duties with managing the spaces available within the Maxwell Building. This is done to determine a current state of the building and to comprehend dimensions in the mature state of the stage of the area required.
These spaces can be grouped into four main sections (which I prefer to call “zones”), namely the North Wing, the South Wing, the Annex, and the Sub Basement area of the Maxwell Building. The nomenclature seen in the crafting of valuational and marketing particulars is that every available space present must be usable. Thus, a topographical view of the entire building is required to scope the best possible mix that would yield the highest possible profit and viable adjustments necessary to meet the secondary clients’ needs, “The Tenants”. This will also make it feasible to determine the current state of each zone within the building and then the dimension in a mature state of the stage, which is desirable to achieve.
Calculation of the Net Lettable Area of the North Wing, South Wing, Annex, and Sub Basement areas of the Maxwell Building Using BIM
As mentioned earlier in this project, the concept of the management philosophy will be, “Every blade of space offered by the entire Maxwell Building has the untapped potential of providing capital for the university rather than of being a vacant building”. These philosophical views will reach not only the primary clients’ stated needs and wants but also will likewise reach the unstated ones. It is, therefore, wise to estimate the amount of space available for use in the Maxwell Building before injecting market particulars and a marketing plan for the building itself.
It is worth mentioning that I have subdivided the entire building into four main zonal areas (North Wing, South Wing, Annex, and Sub Basement). Firstly, it should be assumed that each of the zones is a product being offered by the university. Then it reasonable to state that a profitable product mix can be determined by allowing each zone to possess a different service organisation closely correlated in nature to what the other zones will erect. These will exist and function symbiotically together with the university and the other remaining zones of the Maxwell Building. This, however, must be conducted with the use of software that is capable of providing a three dimensional representation of all four areas having an intrinsic Graphical User Interface (GUI) approach for both the university and the potential interested organisations as the clients.
The Net Lettable Area (NLA) is presented and calculated in meters squared in this very case. More technically, it is described as the floor space that exists between the internal finished surface of the permanent internal walls and the internal finished surface of the dominant portions of the permanent outer walls of the building. The calculation of the NLA of the entire Maxwell Building will be conducted in the sections of the North Wing, South Wing, the Annex area, and the Basement area. These will include window frames and all structural columns and exclude only the restroom area, cupboards, and tea rooms as they are seen as standard facilities inside the building area. In addition to the calculations, all areas described as the general public spaces will be excluded, as well.
As an act of further demonstrating the total NLA of this wing, each of the existing seven floors has been draw. As one can clearly see, each floor almost aligns perfectly with the one above it and below it. It is vital to state that the system merely made calculations based on the mode of the seven floors-the very first floor. The overall shape of the Wing can thus be represented as shown immediately below. All other calculations have adopted the same formulary in calculating the net lettable area of the building with respect to the number of available space per zone.
As for the South Wing areas, the following was realized: Areas 1 and 2 have the following parts: 300.3 meters squared and 3997.9 meters squared respectively. The total area was calculated as 4298.2 meters squared. Area 3 represents the public area that will not be included in the calculations.
Analysing the Annex areas of the building, the following was realized: Areas 1, 2, 3, and 4 have the following parts: 367.2 meters squared, 46.5 meters squared, 489.9 meters squared, and 308.2 meters squared respectively. The total area was calculated as 1211.8 meters squared. Area 5 represents the public area that will not be included in the calculations.
Analysing the Sub Basement areas of the building, the following was realized: Areas 2 has the following degrees: 690.6 meters squared is also the total area. Area 1 represents the public area that will not be included in the calculations.
The size of the building will be used to determine the specific use that will be viewed as the “optimum highest usage” for it. This will then be coupled with the current market time; this will allow the university to yield more steady increments in profits. A close analogical view of all lettable areas clearly shows that the biggest areas are distributed in both wings; this is followed by the annex area and, lastly, the basement area. The age of the building would also dictate the type of possible client organisations to use it. The Maxwell Building is fairly old; thus, this will only be a major positive feature with none office situations when considering the dynamic technological changes and preferences for a commercially applicable spacious area.
Market Particulars and Marketing Plan for the Space in the Maxwell Building
Without falling into the trap of just advertising and launching promotional strategies as tactics, a clear comprehensive analysis of the market in which the Maxwell Building will be sold as the product and service will be done. As the foundation of the marketing plan, a well-detailed documentation of the Maxwell Building being offered and the available liable terms of the product of sale will be considered. Channelled towards the Universities culture, a combination of its marketing vision will be merged into a new marketing plan for the building at hand. In order to sustain the business, the marketing plan has been drawn via the comprehensive analogy of the market on which the building rests and has been geared towards providing the best appropriate product mix to release optimum profits.
Now the “want” of the organisation is not only leaned towards the financial profits in both the long and short term venue, it is also aimed at upholding the prestige of the school values and becoming a place that would pull future students to the school. To achieve this “want”, the product The Maxwell Building will have the following marketing strategy erected. It will be based on the following support system of vital pillars: promotion, distribution, pricing, and product itself. The work will be done towards the designing of a proper marketing mix of the four elements.
The perfect combination of these will be realized through adjustments aimed at aligning the Universities’ wants while simultaneously yielding high incomes as the financial profits. Afterwards, this will leverage the project to be above the other existing rentals and, thus, achieve its goals in the mission and vision. I will also show that the Building will probably meet most if not all the requirements of the present market and will also provide decent profits, further justifying its own existence at the university location.
In accordance with the Net Lettable Areas calculated, the North and South Wings of the Building will be the main Usable areas for a possible profitable mix. As part of the segmenting dimensions, the determining dimensions that will effectively affect secondary and tertiary clients’ purchasing of the lettable space will be of the two wings. The Annex and Sub Basement areas will be discussed in this document. The qualifying dimensions that are relevant in the inclusion of a specific client will be expressed throughout this section, as well.
A closer analysis of the price pillar will show as follows; the building will have to enter the market at a slightly lowered price by letting both the North and South wings first followed by the Annex and Sub Basement areas. This will be done for the sole aim of merely getting the product into the market and getting it well-accepted. This will not only act as a luring device for possible clients to try and use the available space in a specific wing, but also will gain a reasonable share of it as the Wings penetrate the market. It will be expected that this initial pricing will be gradually increased in insignificant amounts as sufficient market shares are gained.
This particular pricing pillar, though insignificant increments in pricing will be experienced, will benefit the business when it comes to managing the Maxwell Building. To further solidify these claims, a marketing research process stated that though most prestigious buildings are much easier to let, it is wise to start with a 25% less the normally expected market price.
As an act of identifying a solution early, the following will be done: the pre-existing challenges will be defined, followed by a swift analysis of the situation carried on by the collection of the problems’ specific data. Then this data will be decoded into meaningful information in order to solve the immediate problem faced. Since the building is immobile, changes in demand in a particular zone may drastically change with respect to another. It is then wise to assume that just as the building was once usable to the university at a certain season; it would be needed again for usage with changes in the flow of student’s academic requirements in the near future.
Thus, only companies willing to take up the space with as little as 20% change to the main internal building stratifications will be leased. In other cases, organisations willing to further improve the Maxwell Building in accordance to its original conduct will be favoured. The university will not win market shares or profits through the mere spending of funds, changes or equipment increments.
In order to eradicate the problem that the university has, a campaigning act will be launched. This will inherit an intrinsic formal researching tool that will gather primary data about what will be sold. As for the qualitative researching part, the best efforts of beating the competition will be aided with a well-targeted promotional campaign. This conduct will consistently be followed (Due 2003). This qualitative approach will seek out an in-depth and open-ended data entry response of people sharing their thoughts on the introduction of different facilities (as the mix) at the Maxwell Building without placing guidelines on how they are to respond. The repetition of the same questions will allow for easy quantitative summarizing of the data.
The following is vital as this will avoid leasing companies that will not have many clients. This will mean that if the leased organisations do not gain reasonable profits, the supply chain will break and, thus, the university will not gain rental payments as the immediate financial gains. The quantitative research approach will be administered towards the possible companies (these will be mentioned later on in this document) willing to rent the buildings spaces as adorned. This will be achieved through advertisement efforts towards them.
The main platform of advertising will include local newspapers, one-to-one marketing, and flyers. Adverts in the newspaper will be placed every month until filling the Building wings with respectable companies as tenants. This will benefit with the wider coverage that the newspaper has.
Research has shown that the costs of advertising in the newspapers are quite reasonable. For example, a ten by ten centimetres black and white advert in the same paper will cost an approximate $27, 99 at the current rate. As soon as even a single wing is filled with the desired prestigious clients, a 10% discount policy in the rental fees for three consecutive months will be further awarded to tenants that will successfully invite other businesses to ally with them in other available zones. This will further assist the university in employing tenants rather faster and easier.
One-to-one marketing for clients will be handled best by a fairly large eye-catching marketing department that will be erected on the site. It is worth stating that the costs that will be involved in erecting such a board will be slightly higher than that of the standard brochure and the V typed departments. This board will be charged with the engagement of potential as well as registered small but prestigious companies on a one-to-one meeting basis. This form of marketing will target only very prestigious companies and will run for one month to reduce the costs. Through these meetings, a demonstration of high quality of the service will be seen.
The flyers will be issued out simultaneously and sent to clients and will commence with month to month. All flyers will also be given to clients who enrol their children to the university. This will potentially consolidate the clients’ understanding of company’s existence and its focus as the school company. The other significant component of the marketing mix will be the product itself. It will be ensured that the product (the building) will satisfy all customers. This will be guaranteed through the provision of contracts that will state that the building is modelled and refinished at progressive significant levels, thus providing a quality product.
As mentioned, modelling and refinishing will be aimed at preserving the Buildings main usage. The facilities will also be kept clean, attractive according to marketing on the right way (Vandenbroeck 2007). A standardised signboard would also be erected along with its particulars that will be provided as a minimum. This will all be done to ensure the full exposition of the Building to the market.
Since the entire Maxwell Building will most likely be vacant and ready for adjustments from September the first, 2013, it will be wise to invite an organisation or company that will rent out a section of one of the wings. Such a company will be charged with the sole provision of part of the funding required to maintain the current state of the building and funding of the latter upgrading of the wing in accordance. The marketing plan is suggested to be issued in the following way. Since the Maxwell Building was erected with high hopes of educating the young generation of people in its neighbourhood, this main purpose must still be kept in the subconscious part of the campaign. Looking at its modern red brickwork and the exterior facade of glass with innovative interior design, it is evident that any community will be proud of being the owners of the Maxwell Building.
Like all buildings, this once jewelled building has been faced many challenges concerning its surroundings for the years (Halifa 2010). A police station appears when looking across the building in the North Wing direction. Though this particular building was remodelled in April, 2009, it appears that there is still room for improvement as the environment affects the value of the school, as well. Even before looking at the internal marketing of the North Wing, it will be productive to find a solution in upgrading the police building once again. It is common for properties under the correct circumstances to upgrade the renewability of the surrounding neighbourhoods.
As both the North and South Wings are fairly large spaces to rent out, they will be sub-divided into subgroups that smaller prestigious companies could own. It will be vital to have also erected a semi-permeable choosing board that will be responsible for the preservation of the school prestige. This will not cost much as the former retired passionate patriots of the university will meet all the required credentials. It also means that only companies will upgrade the image of the Wings, and thus, the building will be accepted. The type of tenants, who rent the place, is also expected to accommodate the students of the university. The North and South Wings will be open for letting two mini-restaurant companies, a restaurant each.
The North Wing will obtain the restaurant that will be well-known and aimed at “milking” the working class, and the South Wing will obtain the other that will be slightly lower, perhaps of the middle state, making it also available for students wanting to experience classical meals. This will ensure that both parties will gain much from the experience. Most likely, students will promote the business of the second restaurant as it reinvests a certain percentage of the achieved funds into the school through rentals. This arrangement will be made with the second mini-restaurant. The remaining sections of the North wing will be made available for companies that will attract many people high in the working class. For instance, law firm companies have been known to take their clients out for lunch while discussing evasive manoeuvres of winning their cases in court while breaking bread altogether. This will be ideal with our setup and will couple nicely with the two mini-restaurants.
One section of the North Wing will be left for a company that will sale equipment that the students require at the reasonably priced shares. The more people the companies will attract, the greater the probability of all leased organisations make meaningful profits. Also as mentioned earlier, a good marketing philosophy will ensure that the renting companies are interdependent on each other. For example, having open space for a restaurant company, it will be profitable to rent out another section of the North Wing to a mini-mall (Delattre at al. 2009) as this will maintain a fairly good reputation of the school for outsiders. Probably, the customers who are shopping in the mall will also enter the restaurant in order to enjoy a refreshing meal after shopping. It is also known that the policy of good restaurants and malls is aimed at the attraction of the clients.
The South wing will act as a semi-student and working class section. It will also have a professional sporting facility installed with a middle classed sporting company. Again, this will make it much more profitable for the South or North Wings restaurants to capitalise on the tired and hungry clients coming from physical training. During the later stages of letting out the remaining sections of the South Wing, a mini-cinema will also be located and leased. This Mix will most definitely allow a constant flow of clients into the Maxwell Building. It also means that the Wings will not depreciate with time but rather be preserved waiting for the school to upgrade it once more. The above point can only be realized through the advertisements as it has been mentioned already.
Using the Net Lettable figures demonstrated earlier, one can clearly see that the Annex and Sub Basement areas account about 0.2 of the entire building at large. The Annex area will be leased on a daily, weekly and monthly situation. Its different floor levels will be provided to individuals or organisations that want to exhibit something. For instance, professional oil painters could rent a floor for days to exhibit their art works to potential buyers or promotional agents. Similarly, clay shapers and sculpture artists could rent the Annex area, as well. This will again attract many different people to the school and also the Maxwell Building.
The Sub basement area will only be offered as a storage space for the organisations that will rent above spaces. Storage tariffs will be assigned monthly or yearly, depending on the available situation.
As both the North and South Wings develop through the pouring of income through rentals, a three dimensional advertisement campaign must be obtained, such as from BIM (Building Image Management), which will be discussed deeply in the later sections of the project. This will benefit clients, the university, and the possible tenants. The university finance department will want to see a three dimensional view of the step by step approach that the building will gain in a certain timeline and the tenants likewise as it will be used in the remodelling of other university buildings that have a similar structure. The architectural personnel for graphical imaging will be hired and used.
Management Plan Setting
A strong belief will be placed by the university as the client in the maintenance of the Maxwell buildings culture and form. A division will, thus, be erected that will offer complete solutions to the Universities stressed design specifications of the Maxwell Building. The newly founded or contracted in-house design board will then be tasked in working closely with the university as the client. Organisations, such as Deborah Services Limited, have been known to invest much in the establishment of their own personal in-house design team.
These teams are able to offer very comprehensive services for the university as their clients. This is usually achieved through what they call “CAD Systems”, more commonly called computer aided design systems. This will not only ensure that all requirements are marked-out and highlighted, it will largely precipitate a solution that will be of the most cost effective state in nature. In the case of the university, the purchasing of a CAD will be much cheaper in the long run. This will further be elaborated in the next section of this project.
When all the zones/areas of the universities Maxwell Building have been fully rented out, as it was stated above, each of the four zones will collect a percentage of rentals aimed at renovating a particular wing or area. The areas of the Building will be developed through renovations at monthly increments as part of the contract with the prestigious small companies of tenants. As the philosophical view states that the more people should be attracted, it is likely that more market shares will be obtained as a favour is obtained with the locals.
This will provide the desired needs of the university as the client since homogeneous submarkets would be erected. These, as described earlier, will assume that individuals as clients will always have different wants and needs from other individuals. Thus, the North Wing, South Wing, and the Annex area will provide a variety of products that will ensure that at least every client passing through will buy something. This is to simply say that individuals that are not homogeneous or do not like anything in say the South Wing should at the very least like something from the North or Annex area. In order to keep up with the ever growing internal in-house expenses, the present companies will be asked to pay out an increased rent since the building will attract more people to them with the described homogeneous submarkets installation policy.
Though the installed organisations are most assured of paying rentals on time, our written policy will stress that failure to realize the increments will result in the replacement of a particular company with an able one. The management plan will include six main sections: operational planning, establishment and maintenance of a register capturing the value and the functional feasibility of the existing building areas, maintenance of the cyclic assessments and related items, the management of energy outflow, budgeting available assets, and finally, analysis of the risks, which company is likely to face.
Now looking more into the management plan, in regards to the operational plan, a well-documented journal will be provided. This document will address all the monthly requirements of the different available and needed assets, such as those of energy consumption, conditioning of the internal environment of all areas leased out, the required lighting standards, and the security of the building. Moreover, the document will include the main assets and the specifications when operating them as a kind of a performance indicator.
For the establishment and maintenance of a register that will capture the value and the functional feasibility of the existing Maxwell Building zones, all existing asset requirements will be made known. This will be aimed at establishing all the available necessary operation regulations. Furthermore, the identification of the unmet and the inadequate available asset requirements will be conducted to insure that all operational requirements are reached by the companies being leased. A plan and financial document will also be presented. In the management of the Maxwell Building, it is worth knowing that just as all living organisms pass through different stages in life, every project will also experience a life cycle. The financial analysis will be aimed at maintaining all possible “life cycles”.
In order to optimise the lifespan, as well as the highest degrees of performance operation, particular attention will be paid to the early stages of the lifecycles. This will ensure the improvement of the reliability of the design and on-going renovations of the internal Maxwell Building areas, the implementation of the very highest technological aiding methods, and knowledge to over shadow the present challenges faced by the university as the client. Finally, a close review of all the available companies’ performances as the assets will be conducted weekly in order to manage the image of the university and to ensure that all rental fees are realized. The maintenance of cyclic assessments and related items will be categorised in two ways: firstly, it will appear as a description of all annual maintenances and then as a main periodic maintenance.
Looking more into the annual maintenances, the documents stating the expected estimate repeated cost in the ordinary month will be issued. This will be done to prevent and correct a fault. Thus, the estimation of rates and annual expenses will be provided and then compared with the expected annual expenditure gained from tenants. A summation of all the elemental expenses and the equipment being used in the four areas of the Building will be done. This will be to segment each zone to provide a complete section of the Building. For most of the periodic maintenance, reviews of the costs involved will be conducted. This will help the university to isolate any recurring expenses and also allow minimizing their appearances.
Estimations of the fixed expenses will be substituted with a fixed fee of annual expenses, and the rates for these particular expenses will be identified. In respect to the rate of usage of all the cyclic items, the outlined plan of preparation will be presented to the university stating a list of the required maintenance tasks for each individual asset. Besides, the identification of main recurring maintenance issues will also be provided. Finally, in this venue, the module will terminate with the identification of the expected length of each element in use. This will range from assets like the chairs and ventilation machines.
The management of the energy outflow will also inherit that of the environment. This venue in management will also be composed of two outlets. The two will be outlining the plan of view, as well as looking at the revenue and the recurrent issues. The inheritance of the outlining view will be the identification of the demands. Similarly the targets, the applicable policies, and bench markers will all be included in this outlining. The analysis of all alarming issues will be closely considered, as well. These will range from the building itself, its present geographical location, and the mechanisms of maintenance.
Moreover, a valuable list of the main components and their associated tasks will be provided. In completion of the above mentioned, the outline view will be crafted and finished and will provide projections of the expected operation of the key components. These components will be seen as the revenue and recurrent issues on paper. A formal analysis of recurring and non-recurring rates and energy expenses will be provided to the university both as data and interpreted graphical information for easy comparison of the passed financial oppressions. The expected returns and the typical investment plan will also be offered in the same document. This document will also be inclusive of the waste removal and disposal approach. As a reference point, bench marks will be used to evaluate the gradient of progress.
In the budget planning area of the present assets, the available phases will be administered in maintenance of all four zones of the Maxwell Building. The first phase that will be used will be a cyclic one. This will address issues involving the costs involved in the replacement of the fazed-out assets with better ones. It will include pure mathematical expectations of the expenses in replacing the key element. As examples of this phase, the window structures of the Wings, equipment, and the present furniture in use will be inclusive.
The expectation of the life span of any given components duration as stated in the previous plan will also be viewed. A “sinking fund” policy will also be prepared for the university. This will allow the university to reduce any debts through the repaying or purchasing of any outstanding loans or securities that are held against them through bonds. The second phase will focus on recurrent expenses. Mathematical estimations are excluded and replaced by simply identifications from existing collected accounting data of the given energy expenses and rates. Thus, the university will seek all cleaning expenses and their related rates in a document that will be crafted in sections of the documentation. This will also be inclusive of the waste removal expenses. In the third and final phase, all periodic and annual maintenances, the recurring energy, cleansing, and management will be made known.
Risk management will also be provided. It will mainly consist of four phases, as well. It will be a summary of the systematic isolations, analysis, treatments, and spread of the risks involved in the management and upkeep of the Maxwell Building. The appropriate risk management procedures will be designed to eradicate all significant risks to the vision of the university. The document will provide all risks and all strategies to manage them. Though I have no doubt that the project will succeed, a few issues will be raised and made mention of in passing. Fluctuation in the raw material prices and their availability may vary. The businesses that will be responsible for selling foodstuff will be affected. Thus, the rentals will be reduced as they may close because the results of operations and financial conditions are dependent upon the cost and supply (supply and demand curve) of foodstuffs. Any increase in the price of these foodstuffs could affect the company’s profitability.
Therefore, it can be difficult sometimes to make up the change in the fees as this may affect companies’ competitiveness. This risk will be minimized through ensuring in the contract with the restaurants that they will be required to have long term supply chain contracts with clients at the fixed prices. As the middle classed mini-restaurants become larger, they may change the agency’s focal role and all their initial property requirements because of the increased number of machinery they need to fit. This can be evaded by having a policy that will allow the university to get a three month notice from any cooperation wishing to leave and a substantial fine must be issued if the treaty is violated. If records are poorly maintained, for instance, inadequate leases that are documented or if key agreements are lost, the university may not be able to make or exercise their authority in such cases. This could be minimized by providing both soft and hard copies of all vital sensitive information.
Another factor of concern is security. The project largely depends on the availability of security measures. If the project is vandalized, there may be compensation from the insurance company for university, but the project’s continuity and its rate of growth will be affected. The risk is minimized through employing security guards who will watch over the complex. Another risk could be that of having an inflexible building portfolio that will fall short of achieving or evolving with changes in the business requirements. With respect to the location of the Maxwell Building, the leased companies or individuals may feel that they are not making much money as it was projected. Thus, they can move to other more attractive complexes. This is a risk that needs proper management since dealing with regular suppliers is also vital as it results in the creation of strong relationships with them. The risk is minimized through a reasonable number of suppliers at any given time.
Students of the university will be persuaded that if they buy a particular meal from the restaurant four times in a week, they will gain a fifth at half the normal prizing. A similar policy will be induced to other cooperation’s. The lack of resources at key stages of development can also be a restriction on the progress of the Building management. It is difficult to find resources at the key stages of development. The lack of resources at such stages may affect the growth prospects and profitability of the entire project. Strict budgetary measures will be used to protect against a shortage of resources at key stages of development. Also, tenants’ bad debts may lead to the cash flow problems. The main customers will be required to pay in advance in order to avoid the cash flow problems.
However, the well-known customer techniques will be used, and strong relationships with the clients will be developed for the purpose of reducing this risk. If the university fails to maintain key infrastructure, for instance, in the case that the fire starts and the fire detection equipment fail, the entire operation will be obliterated. This could best be evaded by providing a second alarm and response system that does not rely on electricity but individuals themselves. This could be achieved by allocating a security member for each available zonal floor (Kambiz & Vahideh 2010).
Works Required in Bringing the Office Space up to a Proper Contemporary Standard
Management of the standards will be done both on-site and off-site. The off-site advancements will be done first through the use of a CAD system function. The introduction and usage of software, such as BIM that uses a three dimensional graphical representation of a building, will help to reduce the length and costs of projecting the upgrading and maintaining the Maxwell Building. It will all depend on the BIM’s ability to develop a virtual environment without wasting valuable funds on different designs physically.
It also has an inherent software package that enables it to calculate and make adjustments to the already existing building areas, both internally and externally. Thus, a realistic projection will be used to produce and implement a real design without errors and losses of funds. For the North and South Wings of the building, most of the fixed sitting areas will be cleared to accommodate the introduction of the mini-restaurants, mall, and equipment shops. All removed assets will then be stored in part of the Sub basement area or sold at a good price to organisations in need of them. These funds could be used to install more air conditioners and security details in various strategic floors. As for the performance standards, the following will be carried out. The turnover time will be 16 working days; these will be spread as 6 for making each floor of a zone ready and 10 for leasing a particular unit.
For preventative maintenance processing, 85% of all preventative maintenance inspections and all the servicing of entire areas will be done in 15 days that will be scheduled and the remaining 15% within stipulated 30 days of the schedule. In the case of emergency requests from cooperation’s, the university will do these in 2 days to avoid the loss of the client, but routine requests will usually be done as stated in 4-6 business days.
Now viewing the works in greater detail, the oversight of all physical tasks would be done over 30 working days. The plans will be reviewed during the design phase by an asset manager, maintenance stuff, and developer. Also, at the meetings, the budgets are reviewed to ensure that all long term physical needs and wants of maintenance are in good order. The next phase will be of launching an inspection and maintenance of the spaces. A guide will then be crafted during this phase titled Preventive Maintenance Guide.
It will show how to instigate different types of repairs. This will also be done prior the initial occupancy of the space by an organisation or individual. Asset management will be responsible for this using the maintenance plan. The works performed will then be reviewed and documented using inspection forms. All purchases for reasonable approved items by the secondary client’s agents well above stipulated spending limit are reviewed by the funding board.
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