Quality Management Assessment
Over the past 25 years, NRESC has conducted Quality Management Assessment (QMAs) over 350 million square feet in 40 US cities and 2 countries for leading real estate owners and managers.
Quality Management Assessment (QMA)
Quality Management Assessments (QMAs) is an objective, standardized method of evaluating and measuring the performance of a property/facility team’s management practices to increase an asset’s operating performance and effectiveness. The QMA evaluation employs industry best practices and Total Quality Management techniques to assess management practices. This includes property inspections, surveys of management practices, detailed tenant inquiries, statistical sampling, and interviews with the property team.
The comprehensive approach assesses and scores the quality management practices in 48 management activities in the functions of:
- Customer Care
- Marketing and Leasing
- Maintenance and Engineering
- Sustainability
- Administration and Operations
- Financial Management
- Human Resources
With this knowledge, an asset manager or senior property management can better understand what management activities require improvement and verify that current activities are comparable to industry best practices. NRESC provides the client with a “report card” listing those practices which are commendable and suggestion for improvement.
“If you can’t measure something, you can’t understand it. If you can’t understand it, you can’t control it. If you can’t control it, you can’t improve it.”
Quality Management Assessment (QMA) Process
1. Property Selection by Client
- Clients use a variety of criteria to select properties to be reviewed.
These include:- Annual percentage of properties based on the size of the portfolio.
- Newly acquired properties.
- Properties subject to disposition.
- New property management teams.
- General concerns with the existing management team.
2. Scheduling On-Site Visits
- Client notifies the property management team of the pending QMA.
The property team and NRES confirm a mutually convenient on-site schedule. - The on-site visit is typically one day, but it may be two for larger properties.
3. Preliminary Data and Document Collection
- Typically, starting 30 to 45 days before the on-site visit, NRES will send the property management (PM) team a detailed overview of the QMA process.
- The PM team will review the Management Practices Surveys for each property management function and the requests for supporting documents.
- These requests will include a suggested timeline to guide the property team’s submissions.
- Property management functions may include Customer Care, Marketing and Leasing, Maintenance and Engineering, ESG and Sustainability, Accounting and Reporting, and Human Resources.
- Before each on-site visit, a NRES surveyor will review the survey responses and documents, and may email or conduct a video/telephone follow-up with the property management team to clarify responses and request additional information.
- The goal is to collect, review, and clarify all property data and supporting documents before the on-site visit.
4. On-Site Visit
- NRES will meet with the PM team to review and verify preliminary responses, supporting documentation, and any outstanding issues.
- NRES will interview selected tenants, where applicable.
- NRES will conduct a comprehensive property inspection.
- NRES will debrief the PM team on the findings and preliminary suggested improvement practices.