ASSET MANAGEMENT


ownership of the PFI assets at expiry were not satisfied with the asset’s condition. This statistic highlights the need for a proactive approach to understanding the condition of the estate prior to hand-back. Where authorities have insufficient knowledge of the asset condition, this puts them at risk of assets being returned with a lower quality than needed or expected. Fifty-five per cent of respondents to the National Audits Office’s survey recognised that they need more understanding and knowledge of the asset’s condition. While it is the responsibility of the SPV investor to maintain the assets during the contract, the Trust needs to monitor asset condition. Thirty per cent of survey respondents are not monitoring annual maintenance spending, and 50 per cent do not maintain an asset register.


Assessment against PFI contractual requirements One of the key components in the PFI handback process is that an assessment is undertaken against the PFI contractual requirements. Basic requirements for good asset management include built drawings, operational and maintenance manuals (O&Ms), schedules of accommodation, the asset register, condition survey, and room data sheets. There is no doubt that asset data will be the key to successful management of delivering the end of a PFI contract, and the role of well-managed, high-quality asset data in PFI handback and reversion.


Industry experts are indicating that Trusts and PFI/PPP providers need to bring the review stage to anywhere between five and 10 years before contract expiry date – meaning that this activity needs to be high on the agenda for both


Brook Smith


Brook Smith is a Partner at independent construction and property management consultants, RLB UK, head of Building Surveying in its Birmingham office, regional Health Sector lead, and National lead of Six Facets Property appraisal. He has 15 years’ experience working in the healthcare setting, spent primarily in the delivery of estate strategies and multi-facet property appraisals, and possesses an in-depth knowledge of the challenges and opportunities faced by healthcare estates and facilities departments in managing their complex property portfolios.


He brings multi-sector experience to healthcare, and has developed many


bespoke asset management solutions in the retail, education, and public sectors. Solutions have been tailored towards clients’ solutions, incorporating CAPEX and OPEX forecasts, data migration to CAFM platforms, lifecycle cost modelling, investment and business case production, asset hierarchy review, and incorporation of PPM requirements and statutory inspection. He has extensive experience in the methodology of Big data, and specialises in the front-end presentation and demonstration of results in varying media formats to ensure that they are communicated to their target audiences, as well as analysis of the data that provides client insight and portfolio intelligence.


the public and private sectors in the healthcare space in the immediate future. Trusts will need to get ahead of the curve, and understand their obligations and the contractual provisions. Accurate and appropriate data on the estate portfolio will underpin the entire handback process, and both be at the centre of any contractual negotiations, and ensuring that the Trust regains assets, and not liabilities.


Whatever the next year throws at the


healthcare sector, be that coping with another wave of the pandemic, or playing ‘catch-up’ with the backlog of existing treatment needed, the condition of our estates needs to be monitored and assessed to allow Estates managers to tap into the funds available. It will be data that acts as the key to unlock this investment, and plays a larger and more significant part than ever in the Estates strategy for every healthcare estate manager.


hej


January 2022 Health Estate Journal 57


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