Property Standard Index background
Property Standard Index model puts Queensland out in front
In 2000, the former Queensland Department of Housing revealed a new decision support model designed to improve the management of its building portfolio, then valued in excess of A$9 billion.
The Property Standard Index, a tool for portfolio and property management decisions, was launched at the International Council for Research and Innovation in Building and Construction (CIB) conference held in Brisbane in 2000. The Property Standard Index was jointly developed by the former Department of Housing in a research alliance with Australia's CSIRO and the Queensland University of Technology (QUT).
The Property Standard Index has greatly improved the targeting of scarce financial resources designated for a large portfolio, to those properties that will benefit the most. This is achieved through comprehensive data collection and analysis and a simple user interface. Decisions can be more readily made with regard to the prioritisation of capital investment, maintenance expenditure and financial planning.
Improvements to the Property Standard Index continue to be developed and tested by professionals in the department, CSIRO - Division of Building and Construction, and QUT.
Last updated 24 April 2009
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