Technical Due Diligence: Study of Building Evaluation Practice
Publication: Journal of Performance of Constructed Facilities
Volume 25, Issue 3
Abstract
Technical due diligence (TDD) as an evaluation of the performance of constructed facilities has become an important new field of practice for consultants. Before the financial crisis started in autumn 2008, TDD represented the fastest growing activity in some consulting companies. TDD is usually carried out for buyers or sellers involved in real estate transactions. It can also be part of mergers, including real estate and other assets, or part of facilities management outsourcing. This paper is based on a case study and an interview survey of companies involved in TDD consulting in Denmark and Italy during 2009. The research identifies the current practice and compares it with the recommended practice in international guidelines. The current practice is very diverse and could, in many cases, be improved by a more structured approach and stricter adherence to international guidelines. However, the investigation of the current practice also identifies examples of value-adding practices, which can give the companies in question competitive advantages by differentiation and/or give input to improvements of the recommended practice guidelines.
Get full access to this article
View all available purchase options and get full access to this article.
References
ASTM. (2001). “Standard guide for property condition assessments: Baseline property condition assessment process.” E 2018-01, West Conshohocken, PA.
Hoskisson, R. E., Hitt, M. A., Ireland, R. D., and Harrison, J. S. (2004). Competing for advantage, South-Western Cengage Learning, Florence, KY, 251.
Huff, A. (2004). “Merging byte by byte.” Commer. Carrier J., 161(2), 40–44.
Jensen, P. A., Nielsen, K., and Nielsen, S. B. (2008). Facilities management best practice in the Nordic countries: 36 cases, Centre for Facilities Management—Realdania Research, Copenhagen.
Miller, J., Minhas, M., and Radovsky, N. (2009). “Managing patent transactions: What makes for good patent due diligence.” J. Comput. Internet Lawyer, 26(11), 10–13.
Roulac, S. E. (2000). “Institutional real estate investing processes, due diligence practices and market conditions.” J. Real Estate Portfolio Manage.
Royal Institution of Chartered Surveyors (RICS). (2009). Technical due diligence of commercial and industrial property, London.
Small Business Notes. (2009). “Definition of due diligence.” 〈http://www.smallbusinessnotes.com/glossary/defduedil.html〉 (May 2009).
Varano, M. (2009). “Technical due diligence—A comparison of best and current practice.” M.S. thesis, Technical Univ. of Denmark, Lyngby, Denmark.
USLegal. (2010). “Due diligence law and legal definition.” 〈http://definitions.uslegal.com/d/due-diligence/〉 (Apr. 2010).
Information & Authors
Information
Published In
Journal of Performance of Constructed Facilities
Volume 25 • Issue 3 • June 2011
Pages: 217 - 222
Copyright
© 2011 American Society of Civil Engineers.
History
Received: Jan 4, 2010
Accepted: Jun 29, 2010
Published online: Jun 30, 2010
Published in print: Jun 1, 2011
Authors
Metrics & Citations
Metrics
Citations
Download citation
If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. Simply select your manager software from the list below and click Download.