Project Title:
Providing Appropriate Facilities in Not-for-Profit Retirement Villages
Project Type:
Global Competitive Scheme
Funding Body:
Bowen Jenkins Legacy Research Fund (CIOB)
Project Timeframe:
2016-2019
Program Synopsis:
Facilities are very essential components that support the living requirements of residents in terms of quality of life, independence, security and sound health in both for-profit and not-for-profit retirement villages (RV). In contrast to the for-profit RV, the operation of the not-for-profit RV is mainly characterised by budget constraints, which poses significant challenges for the not-for-profit RV developers to provide facilities that can satisfy the living requirements of residents. Therefore, this study aimed to explore optimal strategies on facilities provision for the not-for-profit RV developers. Based on the theoretical framework of value engineering (VE) that defines the concept of value as the ratio of the function to cost of facilities to RV residents, this report first develop a value engineering model (VEM) to operationalise this relationship. After that, the VEM is demonstrated in a case study of a not-for-profit RV in Queensland, Australia.
Chief Investigators:
- A/Prof Bo Xia (QUT)
