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Purpose – The construction industry in the UK has a history of client dissatisfaction. A potential solution for improvement is through use of a framework agreement, where long-term relationships between parties may focus upon performance. The purpose of this paper is to assess whether use of framework agreements for highway maintenance projects can result in significant improvement for performance when compared with engagement of contractors through traditional discrete methods. Design/methodology/approach – A single-case study approach is used to investigate outcomes set within the context of a major county council in the UK. Quantitative data compiled from 164 civil engineering highway maintenance projects are separated into two groups – one represents those procured using traditional discrete methods and the other within a framework agreement. Findings – Results from independent-samples t-tests identified significant improvements in overall performance and in time (finish on time), cost (payment accuracy) and quality (defects and health and safety) resulted from the framework agreements. Research limitations/implications – The results of this study are derived from one unique and typical case, but they form a baseline upon which further research can build to test their significance in many other settings for construction and maintenance programme, especially in housing, education and highways. This research does not cover the impact of framework agreements on production and transaction costs which should be treated as a separate area for further research. Practical implications – Councils have a statutory duty to provide and maintain a wide range of local services and facilities, including transportation and road network. Conclusions from this study support use of framework agreements within a public sector environment, leading to improvement for contractor performance due to longer term relationship with clients. This in turn enhances quality of works and hence value for money from the councils’ highway budgets. Originality/value – Construction frameworks are a relatively new idea. Although a number of frameworks have been concluded, there is very little analysis regarding performance outcomes. This research tested and confirmed the validity of impact of this new approach on contractor performance.

Purpose -The purpose of this paper is to identify the economic forces influencing the outsourcing process of property management services, and investigate how these forces should be applied in order to maximize the productive efficiency and performance quality, thus ensuring optimal use of resources. Design/methodology/approach -Market competition and transaction monitoring were identified to be the fundamental factors. Single-case study method was used to quantitatively examine the impact of these economic forces on the outsourcing of property management services of the Hong Kong Housing Authority. Findings -The property services market was contestable, and through competitive tendering the level of competition had a significant negative impact on production cost and a significant positive relationship with service quality. Fee level was also found to have no significant effect on service quality. Professional maintenance services were found to be complex and associated with significant transaction costs, especially where there was a high degree of contact with tenants.Research limitations/implications -The outsourcing strategy forms a conceptual baseline on which further research can build to test its significance in many other settings, thus resulting in a more robust economic theory for outsourcing of property management services.Practical implications -Competitive tendering should be adopted for outsourcing to minimize production cost and maximize service quality. The overall transaction costs should be minimized by focusing the limited resources on monitoring of the complex professional maintenance services, especially the services for major planned maintenance works where there are many occupiers involved. Originality/value -The confirmatory tests indicate that the strategic objectives of cost and quality improvement from outsourcing, as expected by the stakeholders, can be achieved. Hence the research contributes to the property management practice by developing an economic strategy which optimizes the use of resources for the benefit of corporate organizations which own a property portfolio, whilst at the same time satisfying the power and needs of the tenants and other stakeholders.

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Purpose Improving valuation accuracy, especially for sale and acquisition purposes, remains one of the key targets of the global real estate research agenda. Among other recommendations, it has been argued that the use of technology-based advanced valuation methods can help to narrow the gap between asset valuations and actual sale prices. The purpose of this paper is to investigate the property valuation methods being adopted by Australian valuers and the factors influencing their level of awareness and adoption of the methods. Design/methodology/approach An online questionnaire survey was conducted to elicit information from valuers practising in Australia. They were asked to indicate their level of awareness and adoption of the different property valuation methods. Their response was analysed using frequency distribution, χ2 test and mean score ranking. Findings The results show that the traditional methods of valuation, namely, comparative, investment and residual, are the most adopted methods by the Australian valuers, while advanced valuation methods are seldom applied in practice. The results confirm that professional bodies, sector of practice and educational institutions are the three most important drivers of awareness and adoption of the advanced valuation methods. Practical implications There is a need for all the property valuation stakeholders to synergise and transform the property valuation practice in a bid to promote the awareness and adoption of advanced valuation methods, (e.g. hedonic pricing model, artificial neural network, expert system, fuzzy logic system, etc.) among valuers. These are all technology-based methods to improve the efficiency in the prediction process, and the valuer still needs to input reliable transaction data into the systems. Originality/value This study provides a fresh and most recent insight into the current property valuation methods adopted in practice by valuers practising in Australia. It identifies that the advanced valuation methods could supplement the traditional valuation methods to achieve good practice standard for improving the professional valuation practice in Australia so that the valuation profession can meet the industry’s expectations.