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The purpose of this article is to assist facilities asset managers who are dealing with regulatory environments pertaining to earthquakes and buildings. These professionals can learn a great deal from the successes and short-comings of a case study programme from the Auckland Council Property Department (ACPD), which manages the public facilities portfolio for the largest local administrative region in New Zealand in both population and landmass.

ACPD has initiated its response to New Zealand’s earthquake mitigation mandates by identifying buildings most at risk to an earthquake in its large and varied portfolio through the use of a rapid building evaluation programme strategically targeted to vulnerable building types with consequential attributes, including service type, number of occupants, floor area and geographic location.

ACPD was able to rapidly cull down its portfolio of approximately 3,500 buildings to just over 100 “high-exposure” buildings in urgent need of evaluation, set priorities for future evaluations, estimate needed operational and capital expenditures for long-term planning and provide useful information to more general facilities management decision-making processes.

A number of major cities around the world in areas of high seismicity have enacted ordinances mandating seismic retrofitting. However, much of the existing guiding literature regarding earthquake-related portfolio evaluations and costs pertains to specific scenarios involving real or hypothetical earthquakes. This case study, in contrast, details the approach taken by a public portfolio owner responding to legal mandates and attempting to quantify and reduce its life-safety risk exposure across a large portfolio as efficiently as possible using readily available information, a rapid building evaluation programme and best-practice predictive models for consulting and construction work.

Many corporate and public real estate managers are challenged to prove their added value to both the organisation and the individual business units or departments. Value can be added by product and by process. This paper elaborates on ways to improve the corporate real estate portfolio management process in order to align the real estate portfolio to the different needs of the organisation and thus add value to the organisation by delivering a better product. To manage the real estate portfolio as a group instead of individual properties, the long‐term portfolio strategy should be translated into short‐term guidelines and clear performance measures in order to analyse alternatives and the performance of the individual properties. These measures should be related to what the stakeholders consider to be the added value of corporate real estate. The examples in this paper will show how a corporate real estate manager can create a clear framework for making real estate decisions on a day‐to‐day basis.

The purpose of this paper is to describe a tool that supports an investment strategy aimed at improving the energy performance of existing buildings. It is particularly aimed at large building portfolios, such as encountered on university and corporate campuses, where typically a plethora of potential refurbishment interventions are candidates for a greening effort.

The investment optimization strategy is implemented in a web‐based software tool. Under a chosen financial constraint and investment time horizon, the tool empowers campus facility management to make the difficult “greening” decisions as part of their continuous building commissioning. The tool calculates and accepts user data that reflect different types of risks, posed by uncertainties in investment costs, energy performance, and energy cost scenarios. In addition, decision makers (DMs) can set different investment priorities, reflecting their financial risk attitude and commitment to “greenness”.

The tool helps DMs determine the best investment options from a set of available energy efficiency improvement options in the light of expected long range energy costs. It will enable the choice of the optimal mix of technologies and buildings within a given budget limit and predict the long‐term monetary as well as “green” return on investment.

The tool has been tested on a portfolio of campus buildings, but needs further validation with a larger set of buildings in a real life campus management setting. The tool can become a trusted instrument in the hands of portfolio managers faced with the problem to select the optimal mix of technologies, and buildings within the given budget. It should be noted that “investment returns (IRs)” and “commitment to greenness” are just two elements considered in the broader decision making framework of portfolio energy management.

The investment tool can provide an essential instrument for campus managers who are faced with the task to refurbish buildings in their portfolio to increase their energy performance. In the current business culture of campus management, the decision to investment in energy savings needs to be weighed against competing initiatives that target greener campuses. The target of the research was to develop an instrument that can help DMs to verify rapidly what can be achieved if a budget line item of, say $10 million would be added to the campus budget for energy performance improvements.

The research output from this paper is valuable for continued efforts in the development of indicators that measure “IRs” and “commitment to greenness”. Other elements that impact portfolio decision making can be identified in a common decision framework of which the investment tool will become an integral part over time.

The paper aims to conduct an empirical study of three models of property derivatives: index-based derivatives, factor hedges, and combinative hedges based on index and factors. The objective is to test whether the latter two models introduced by Lecomte dominate the index-based model used for existing property derivatives such as EUREX futures contracts.

Based on investment property database (IPD) historical database covering 224 individual office properties from 1981 to 2007, the study assesses ex ante hedging effectiveness of the three models. Nine simulations are run under different hypotheses involving individual buildings and portfolios. The 17 factors included in the study cover both macro-factors (e.g. macroeconomic indicators) and micro-factors linked to the properties (e.g. age).

Atomization and periodic rebalancing of property derivatives' underlying make it possible to substantially increase hedging effectiveness for a large majority of buildings in the sample. However, combinative hedges are overall superior to factor hedges owing to the overriding role played by IPD indices in capturing risk.

Due to confidentiality requirements inherent to the use of property level data, the study downplays the role of micro-factors on real estate risk at the property level.

The paper introduces a typology of optimal hedges aimed at individual property owners and portfolio holders in the City office property market.

This is the first time a comprehensive analysis of different models of property derivatives is conducted. The value of the paper stems from the use of property level data.

This research distinguishes between abstract brand concepts built through the development of diverse product portfolios (i.e. portfolio abstractness) and those built through establishing human-like images (i.e. image abstractness), and investigates the joint effect of the two types of brand abstractness on building brand equity.

The three studies presented use experimental design with participants in a laboratory setting and members of an online participant panel.

Three studies demonstrate that while building abstractness by expanding a brand’s product portfolio can generate favorable brand evaluations, this positive effect is marginal compared to when the brand is imbued with human-like characteristics. Furthermore, the favorable effects on brand equity because of abstractness associated with a human-like brand image are evident in protection from brand dilution in the face of negative publicity.

The findings suggest that a consideration of different forms of abstractness is key to unlocking the complexities of understanding customer-based brand equity.

This research shows that although building abstractness through a diversified product portfolio or a symbolic, human-like brand image can favorably impact customer-based brand equity (i.e. attitudes and responses to negative publicity), the former strategy has a marginal effect compared to the latter.

This is the first research to conceptualize brand abstractness as stemming from broad portfolios or from human-like brand images. Additionally, it provides a holistic understanding of how these two forms of abstractness jointly influence brand evaluations and responses to negative publicity.

In contrast to traditional portfolio practices that focus on the individual, this paper aims to reenvision portfolio practices to encompass sociocultural aspects of learning by considering how young makers, both in- and out-of-school, imbue digital cultural practices into the documenting and showcasing of their work, as well as observe the extent to which their portfolios are used to build community inside and outside their local settings.

Drawing from a connected learning approach, the authors engaged in qualitative and ethnographic study of youth’s digital maker portfolios in an out-of-school and a school-based makerspace. Through qualitative and thematic coding of portfolio walkthroughs, the authors identified four underlying characteristics within portfolio artifacts (i.e. personal and shared projects) and capturing practices (i.e. personal and shared capturing practices) that differently presented projects.

The analysis showed that portfolios that included shared productions and shared portfolios (i.e. projects and portfolios contributed to by more than one youth) and that were shared in open-ended ways across communities valued connected learning principles. These connected portfolios made community building within and beyond maker-educational communities of the young makers possible. In particular, openly shared and collaboratively captured work showed individual achievements (e.g. projects and techniques) and made visible connective and social engagement (e.g. opportunities for feedback and refinement, possibilities to narrate work to multiple audiences).

This paper has implications for the design of portfolio assessment in makerspaces and expands the role of portfolios as a way to capture individual and cognitive achievements alone toward connected community-building opportunities for youth as well as maker-centered settings within and beyond the youth’s local maker-centered settings.

Both financial and non-financial functions are imbedded in the life-cycle management activities of building assets. These functions provide relevant information for the establishment of operational and maintenance strategies and for decision-making processes related with the timing of major repairs, replacements and rehabilitations. The purpose of this paper is to focus on improving the alignment of financial and non-financial functions related to the recognition that the service potential of buildings should be appropriately funded as it is consumed over its life cycle.

Authors undertake an analysis of depreciation rates used to accommodate a systematic allocation of the depreciable amount of building assets over its useful life. Different depreciation approaches and calculation methods are explored. A case study of a school building portfolio is used to debate situations of misalignment of financial and non-financial depreciation rates. Data mining methods including decision tree and clustering are used to predict equivalent functional depreciation rates of buildings system and subsystems and promote an enhanced alignment with regulated financial depreciation rates toward an optimized life-cycle management of the school building portfolio.

Historical data show the relevance of considering technical and functional characteristics of the building system and their subsystems (landscaping; structure; external elevations and roofs; interior divisions; and services and equipment) when determining depreciation rates for the building assets The case study showed a misalignment of equivalent functional and financial depreciation rates used in the life-cycle management activities of the school building portfolio ranging between 1/1.26 for external elevations and roofs and 1/5.21 for landscaping.

Buildings initial technical and functional attributes are affected with its wear, aging or decay, causing loss of value until they reach end-of-life. This paper demonstrates the impact of the different interpretations of the concept of useful life and the subsequent misalignment that it generates between financial functions based on financial depreciation rates and non-financial functions based on historical data and the functional equivalent (technical and functional) depreciation rates. Economic data of 158 public school buildings constructed in Portugal since the 1940s, that sound life-cycle thinking enhances the alignment of both financial and non-financial functions.

This paper aims to develop a forecasting tool for the automatic assessment of both environmental and economic benefits resulting from low-carbon investments in the real estate sector, especially when applied in large building stocks. A set of four artificial neural networks (NNs) is created to provide a fast and reliable estimate of the energy consumption in buildings due to heating, hot water, cooling and electricity, depending on some specific buildings’ characteristics, such as geometry, orientation, climate or technologies.

The assessment of the building’s energy demand is performed comparing the as-is status (pre-retrofit) against the design option (post-retrofit). The authors associate with the retrofit investment the energy saved per year, and the net monetary saving obtained over the whole cost after a predetermined timeframe. The authors used a NN approach, which is able to forecast the buildings’ energy demand due to heating, hot water, cooling and electricity, both in the as-is and in the design stages. The design stage is the result of a multiple attribute optimization process.

The approach here developed offers the opportunity to manage energy retrofit interventions on wide property portfolios, where it is necessary to handle simultaneously a large number of buildings without it being technically feasible to achieve a very detailed level of analysis for every property of a large portfolio.

Among the major accomplishments of this research, there is the creation of a methodology that is not excessively data demanding: the collection of data for building energy simulations is, in fact, extremely time-consuming and expensive, and this NN model may help in overcoming this problem. Another important result achieved in this study is the flexibility of the model developed. The case study the authors analysed was referred to one specific stock, but the results obtained have a more widespread importance because it ends up being only a matter of input-data entering, while the model is perfectly exportable in other contexts.

The paper aims to examine assessment tools for strategic performance evaluation of building and Norwegian practice in light of international practise.

This paper includes a literature review of literature describing the use of assessment tools suitable for building performance evaluation. In this paper, the authors examine, first, what properties they find most essential when assessing building portfolios. This analysis is outlined in the theoretical framework section. Second, the authors examine what are the propensities of the analytic assessment tools that they perceive as to be found in the forefront of contemporary methodological development for examining building performance. These propensities are presented in the findings chapter. The authors discuss how they measure their applicability and impact of use.

The authors found several interesting methods for assessing building performance in general. In particular, the feed forward loop from Steinke, developed from BSC, Soft Landings Framework and the Norwegian multiMap method are recommended.

This conceptual paper addresses methodological challenges in a comparative way. This comparative approach permits for an identification of respective strengths and weaknesses. It suggests concrete points of reference enabling an increase in the performance of such methodologies.

The paper is original in its approach of several methodological tools in light of concepts such as viability and adaptability. By doing this, it underlines the necessity to include social and adaptive dimensions of strategic building portfolio assessment tools.

The purpose of this paper is to broaden the current view of customer portfolio management by including the notion of customer interconnectedness.

The previous research in customer portfolio theory is reviewed, with special attention to customer interconnectedness. Customer interconnectedness as a criterion to build customer portfolios is studied in the example of large Russian b2b company. First, the results of participative inquiry research within the company are presented and then the insights from five in‐depth interviews are described.

Findings suggest that the assumption of customer independence in a portfolio, on which most of customer portfolio models are based, may not fit certain markets and industries. This paper sheds light on to the specifics of customer portfolio building, in the Russian context and results in the customer interconnectedness assumption.

Additional research beyond the provided exploratory study is needed to quantitatively test the assumption and generalize the results. The main research implications relate to the new perspective on customer portfolio theory based on customer interconnectedness.

The paper provides researchers and practitioners with insights into customer portfolio models specifics existing in Russia. This knowledge can be helpful, also, for foreign companies entering the Russian market.

The process of customer portfolio building in the Russian b2b markets has been addressed for the first time in b2b marketing research. The analysis of customer portfolio building in Russian b2b context shows that customer independence assumption is challenged and should be replaced with customer interconnectedness approach.