Property is a significant resource in the UK economy that directly affects business performance and service delivery. Despite this fact, many organisations regard their accommodation more as an overhead to the business than a valuable productive asset, so that its strategic importance is often overlooked.

The Bootle Report to the RICS [2002] stated: 'businesses are throwing away up to £18 billion a year through inefficiency in their use of property - cutting out this wastage could increase gross trading profits by up to 13%.' The Lyons' Report to HM Treasury [2004] noted that the public sector needed to 'raise its game' - 'asset management seems to be pursued in a narrow context within departments not fully joined with strategic thinking'.

There is clear evidence in the private and public sectors of demand for improved methods to manage accommodation as an integral part of the business. To meet this demand, IAM, RIBA, BIFM, COPROP, OGC and other industry leaders have started the task of specifying a business management system for property assets. The system will focus on the ability of buildings and facilities to support business outcomes; it will act as a framework that bridges the traditional gap between property management and other business management systems.

Wide consultation will help us build the consensus we need to specify a system that will be accepted by the industry as its own standard.