DocumentCode :
3594408
Title :
Municipal portfolio stewardship with limited budgets: the application of matrix correlations as a tool to support resource allocation decisions in the public good
Author :
Albrice, David ; Branch, Matthew ; Lee, Tsai-sun
Author_Institution :
RDH Building Eng. Ltd., Canada
fYear :
2014
Firstpage :
1
Lastpage :
12
Abstract :
Portfolio managers are often challenged with difficult decisions in balancing the distribution of limited resources, particularly across groups of buildings of varying attributes, such as age, size, function, and states of physical condition and functional obsolescence. These complex decisions require insight into the correlations (or relationships) between a multitude of physical and financial attributes. Budget constraints compel the managers to prioritize the resource allocations, which requires the development of a compelling business case to support the skewed distribution of the funds to certain facilities and critical assets during particular fiscal years. This paper presents a methodology that draws upon a matrix correlation tool that has been used to help municipalities establish a defensible resource distribution amongst civic departments, motivated by the public good rather than profit incentive. While the weightings for the variables will differ based upon the owners´ objectives (either in the public sector or private sector), the principles of matrix correlations apply to all real estate sectors, including municipal, commercial, industrial and institutional.
Keywords :
budgeting; decision making; investment; matrix algebra; public administration; resource allocation; budget constraints; civic departments; complex decisions; financial attributes; limited resource distribution; matrix correlation tool; municipal portfolio stewardship; physical attributes; portfolio managers; private sector; public good; public sector; real estate sectors; resource allocation decisions; Correlations; Decision-Support Tool; Matrix; Multivariate Analysis; Resource Allocations;
fLanguage :
English
Publisher :
iet
Conference_Titel :
Asset Management Conference 2014
Print_ISBN :
978-1-84919-865-3
Type :
conf
DOI :
10.1049/cp.2014.1043
Filename :
7129238
Link To Document :
بازگشت