Investigating a systems framework for property risk management

Huston, Simon (2010). Investigating a systems framework for property risk management. In: ERES 2010 Conference Papers. 17th Annual European Real Estate Society Conference (ERES 2010), Milan, Italy, (). 23-26 June 2010.

Author Huston, Simon
Title of paper Investigating a systems framework for property risk management
Conference name 17th Annual European Real Estate Society Conference (ERES 2010)
Conference location Milan, Italy
Conference dates 23-26 June 2010
Proceedings title ERES 2010 Conference Papers
Place of Publication Milan, Italy
Publisher ERES Digital Library
Publication Year 2010
Sub-type Fully published paper
Total pages era-unavailable
Language eng
Abstract/Summary Although the Global Financial Crisis raised the profile of risk management (RM) the current framework remains largely ad hoc and descriptive. The research investigates how general systems theory (GST) could contribute to a more rational development of RM. It then conducts a preliminary inquiry into the effectiveness of current industry practice. The paper is organized into three parts. In the first, theoretical one, a robust systems RM framework is developed. In its second, empirical, section RM policy and practice is reviewed in a selection of prominent real estate entities. Entity policy and performance is analysed and some telephone or face to face interviews are conducted for a sample of key respondents. Responses are then systematically analyzed. The results suggest some disconnect between robust RM theory and actual corporate practice. Finally, a discursive policy section draws out the implications for future robust RM practice in imperfect and turbulent markets. The framework has practical implications for property sector RM development. Recommendations are made to improve RM and, therefore, entity performance and resilience.
Keyword Robust risk management
General systems theory
Economic and environmental signals
Q-Index Code E1
Q-Index Status Provisional Code
Institutional Status UQ

Document type: Conference Paper
Collections: ERA 2012 Admin Only
UQ Business School Publications
 
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Created: Tue, 18 Oct 2011, 10:36:56 EST by Simon Hugh Cuthbert Huston on behalf of UQ Business School