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http://hdl.handle.net/10397/14225
Title: | Operation and maintenance budgeting for commercial buildings in Hong Kong | Authors: | Lai, JHK | Issue Date: | 2010 | Source: | Construction management and economics, 2010, v. 28, no. 4, p. 415-427 | Abstract: | The significance of whole-life costs for building operation and maintenance (O&M) is well known. The causes of ill-budgeted O&M resources, however, are often uncertain. An in-depth exploration of the problems with budgeting O&M works for commercial buildings in Hong Kong was carried out, based on interviews with building owners, management companies and O&M contractors. The practice of historical-based budgeting predominates among a variety of budgeting bases, and budgets are largely constrained by preceding budgets and predetermined budget ceilings. Budgetary costs are significant, which can be economized through bundling small contracts into larger procurement packages. The importance of satisfying O&M needs is usually recognized but the motivations of practitioners toward preparation of proper budgets are inadequate. Corresponding to the range of problems identified, a framework of improvement measures is outlined, which requires further development to help achieve proper budgeting for sustainable operation and maintenance of buildings. | Keywords: | Budgeting Cost Facilities management Maintenance |
Publisher: | Routledge, Taylor & Francis Group | Journal: | Construction management and economics | ISSN: | 0144-6193 | EISSN: | 1466-433X | DOI: | 10.1080/01446190903365665 | Rights: | © 2010 Taylor & Francis This is an Accepted Manuscript of an article published by Taylor & Francis in Construction Management and Economics on 19 Apr 2010 (Published online), available online: http://www.tandfonline.com/doi/full/10.1080/01446190903365665 |
Appears in Collections: | Journal/Magazine Article |
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a0861-n03_14-OM_budgeting_final_(with proofread corrections).pdf | Pre-Published version | 358.42 kB | Adobe PDF | View/Open |
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