Visionary leaders in both the private and public sectors have embraced the opportunities their property provides and have found ways it can add value to the business function. They have moved from their property being viewed as an illiquid short-term running cost, to a long-term operational and strategic business operation via the asset management approach.

Public sector asset management has been highlighted in reports from the UK government, most notably from Sir Michael Lyons, the National Audit Office, and the Comprehensive Spending Review 2007. In 2009, the Audit Commission will publish its Comprehensive Area Assessment in which asset management features strongly.

As a response, and to bring together the wealth of public sector asset management knowledge and best practice that has been produced, RICS, through its Public Sector Advisory Group, commissioned a project to publish the RICS public sector asset management guidelines. 

Fully endorsed by the full spectrum of public sector bodies, including our partners: Communities and Local Government, Office of Government Commerce, and the Scottish Government, the guidelines were launched in January 2008.  

The guidelines seek to cover the whole subject of public sector strategic asset management, by setting out a structured approach to the subject, with references to additional information. Rather than being just another textbook, they aim to help managers practice good asset management by explaining the key steps and techniques to be used.

The guidelines are designed to be used by the public sector and provide ‘how to do it’ guidance i.e. the practicalities of asset management – from how to prepare an asset management plan, to the risks of not addressing training and development needs, to the sustainability agenda.

To order your copy visit RICS Books or access them via isurv.

For further information, please email: assetmanagement@rics.org or visit the guidelines' own dedicated website by navigating to it via the top right hand panel of this page.