Making better decisions about built assets
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Arguably the most important question currently facing the Australian built environment professions concerns how to make better decisions that are feasible, sustainable and in the national interest. This paper describes emerging and ongoing research using a unique multi-criteria decision analysis support model coupled with an adaptive management (or 'learning by doing') approach. The researchers are retrospectively analysing existing Australian commercial buildings to identify potential changes to the original decision-making process in the light of overall evidenced performance. The findings will provide new knowledge about the interaction of economic, social and environmental criteria in practice; so critical to the continuous improvement and value of our built asset stock. This research will assist the built environment professions and their clients to make better decisions about new developments and how to better manage existing ones over their full life cycle. Used successfully in other fields such as natural resource management, a 'learning by doing' methodology will capitalize on the large number of asset investments undertaken to benchmark original stakeholder intentions and aspirations against the reality of current performance. Decisions will be re-evaluated in the context of contemporary economic, social and environmental criteria to enable existing multi-criteria models to deliver more sustainable outcomes that are also feasible and in the national interest, and consequently minimize the industry's current exposure to future climate change.
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This document has been peer reviewed.