Seismic Risk Assessment of Real Estate Portfolios

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Seismic Risk Assessment of Real Estate Portfolios

October 15, 2020
mike@standardsmichigan.com
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神奈川沖浪裏, ‘Under the Wave off Kanagawa’

ASTM International publishes best practice titles that appear frequently in physical asset management enterprises.   You find them referenced deep in risk management agreements, construction contracts and in the documents that set the standard of care in design, maintenance and operations.  Now comes notification from the ASTM Committee E06 Performance of Buildings of a new standardization project to manage risk in the financial support for buildings with seismic risk —  ASTM WK55885 New Practice for Seismic Risk Assessment of Real Estate Portfolios.   Many large research universities have multiple properties in seismic zones.  From the project prospectus:

Scope and Purpose: Real estate portfolios for mortgage lenders and property owners often include many properties distributed across many regions or multiple states. Seismic risk assessment for a group of real estate properties (a portfolio) differs from PML investigations for a single building (as treated in ASTM E2026 and E2557). The geographical diversification of the portfolio is a fundamental characteristic that differentiates it from the investigation of a single site.  

Project Need: Proper treatment of the complex variables associated with seismic risk assessments at multi-property portfolios requires a new, separate standard, with an appropriate stakeholder focus, and a more complex computational approach more consistent with (probabilistic) earthquake insurance models, but accommodating structural engineering input. As such, this proposed scope for seismic risk assessments of multiproperty Portfolios will generally resemble the scope used for the single building standard (ASTM E2026), however with materially different multiproperty components within the same framework.

Stakeholders: Whole Buildings and Facilities industries

This is a new project identified in ANSI’s Project Initiation Notification System and does not yet have a draft open for public review; only a notification to assure and hasten harmonization among accredited standards developers (Link to ANSI Standards Action | PDF Page 15).

Pepperdine University California

The ASTM Subcommittee E06.25 on Whole Buildings and Facilities cancelled its October meeting in Orlando next week.  No further information provided on its landing page.

We maintain the ASTM bibliography on several agendas — Sport, Risk, Prometheus, to name a few.   This title is part of an expanding constellation of standards for facility management.  When public consultations become available for education community asset managers we will identify them.  ASTM makes it fairly easy for students and faculty to access its consensus products.  CLICK HERE for more information.

 

Issue: [18-189]

Category: Risk Management

Colleagues: Mike Anthony, Jack Janveja, Richard Robben

 


LEARN MORE:

University of Washington Seismic Building Inspections

 

 

Recommended Practice for Prefabrication of Electrical Installations for Construction

October 9, 2020
mike@standardsmichigan.com

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National Ambient Air Quality Standards

October 9, 2020
mike@standardsmichigan.com
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Collision Resistant Hash Function for Blockchain in V2V Communication

October 9, 2020
mike@standardsmichigan.com
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H.R. 3665 / School Violence Prevention and Mitigation Act of 2019

October 7, 2020
mike@standardsmichigan.com

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434 lawmakers, including 89 new freshman Members, were sworn in to the 116th Congress on January 3, 2019. Photo by Phi Nguyen.

A BILL: To establish a grant program to encourage schools to conduct independent facility security risk assessments and make hard security improvements, and for other purposes.

Distance Education & Innovation

October 7, 2020
mike@standardsmichigan.com

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Lyndon Baines Johnson Federal Building / US Department of Education

Updated 9/2/2020: The Department of Education has released final Distance Education and Innovation rules, which offer new flexibilities for colleges and universities that offer certain types of distance education. The rules, which are nearly unchanged from the proposed rules introduced in April 2020, bring closure to a rulemaking process that began in 2018 with ED’s announcement to convene a negotiated rulemaking session.

The Secretary proposes to amend relevant parts of the Higher Education Act of 1965 to hasten adaptation to online learning. Two-hundred forty-eight (248) comments were received. We have picked a few them for easy access here. Note the “sturm and drang” (drama) over the definition of “distance education”.


Posted April 5, 2020

 

The purpose of these distance education and innovation regulations is to reduce barriers to innovation in the way institutions deliver educational materials and opportunities to students, and assess their knowledge and understanding, while providing reasonable safeguards to limit the risks to students and taxpayers. Institutions of higher education may be dissuaded from innovating because of added regulatory burden and uncertainty about how the Department will apply its regulations to new types of programs and methods of institutional educational delivery.

Docket ID:ED-2018-OPE-0076

We reviewed a few of the 248 comments received during our Federal action teleconference,  We picked a few representative comments to enlighten understanding:

Western Governors University

National Student Legal Defense Network

Center for American Progress

We are watching for further action.  See our CALENDAR for the next Federal action teleconference; open to everyone.

 

Considerations for Converting Outdoor Spaces into Temporary Seating Spaces

October 6, 2020
mike@standardsmichigan.com
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Workspace / OPEI

October 6, 2020
mike@standardsmichigan.com
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Common Data Dictionary

October 1, 2020
mike@standardsmichigan.com

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