A standard is simply an agreement to adopt a defined practice. Here are some potential outcomes of a standard for managing property assets:

• communicating a clear, shared understanding of how property assets support business objectives

• a cross-functional commitment to managing property that extends ‘from board room to boiler room’

• identifying policies and performance measures for property that are linked to core business activities

• better control of the risks associated with property, leading to a possible reduction in insurance premiums

• improving the success rate of corporate change management initiatives that are enabled by property

• embedding useful monitoring and reporting methods and adding value to management audit processes

• co-ordinating the activities of members of industry supply chains around a common specification

• instructing and proving a specified level of service delivery in an objective, cost-effective way

• avoiding duplication and bureaucracy by integrating or aligning property management with other systems.

Standards allow different people or different parts of the organisation to inter-operate effectively. Our goal is to deliver an agreed, practical specification which creates tangible benefits and improves the business.