Item

Determining portfolio performance in the New Zealand Fire Service: A dissertation submitted in partial fulfillment of the requirements of the degree of Master of Property Studies at Lincoln University

Povey, David
Date
2003
Type
Dissertation
Fields of Research
ANZSRC::350403 Real estate and valuation services , ANZSRC::350208 Investment and risk management
Abstract
Much has been written regarding the structuring and performance of property portfolios. Most of these writings have focused on the elements of risk and return and the correlation between those characteristics as they apply to the various investments that may comprise a portfolio. These theories do not readily lend themselves to the government sector or more accurately to the public-sector, service delivery organisation. In these cases, the physical property will exist to facilitate an operational output, rather than to generate a revenue stream or investment return. This paper endeavored to develop a model for determining the performance and efficiency of the New Zealand Fire Service's property portfolio, by identifying and quantifying performance factors which may equate with the more traditional 'return' concept espoused in modem portfolio theory. The model was tested against the permanently manned fire stations within the portfolio to identify the validity of the analogy, and to identify those properties that may be considered inefficient and therefore warrant closer analysis by the organisation. Subject to the limitations discussed within this paper, the model has displayed some interesting and applicable results, in particular identifying a correlation between changes in operational demand levels and changes in site performance scores.
Source DOI
Rights
https://researcharchive.lincoln.ac.nz/pages/rights
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