BUILDING ASSET VALUATION IN A CIRCULAR ECOSYSTEM

Due to rising demand and shrinking supply, the built environment, and its raw material’ suppliers must align with the world’s regenerative cycles. The aim of this research is to create a circular procurement framework that determine the value of building asset at its end of life and preserve that value. It thus creates a transparent and measurable standard for circular procurement process, thereby reducing waste and optimizing resource use. In a CPP, a product goes through a process chain when exchanged between seller and buyer through an online marketplace. CPP considers exit scenarios, quality, market demand, disassembly potential, and LCSA of a building asset.
With an emphasis on demolition and deconstruction, the present end-of-life practices in the built environment were investigated. The ecosystem’s major deliverables include a database of site and inventory inspections, an exit scenario and resource recovery plan, a partial deconstruction plan, and an online marketplace for resource trading. A vital part of making the proposed framework work is making sure that the asset information for each deliverable is included in the passport for that deliverable. The site and inventory section addresses team composition and relationship between the team members and delivers a site and inventory database, along with a visual quality assessment framework. Exit scenario and resource recovery requires planning and preparation for resource recovery, as well as assessment requirements to establish a resource recovery plan using indicators relevant for sellers. The utilization of BIM 4D and 5D capabilities to form a WBS, CBS together with an OBS is crucial for producing a partial deconstruction plan. For resource trading, QR codes are recommended to handover product information during trade. A review of existing online marketplaces was conducted to recommend the most appropriate platform for used goods. It encompasses fourteen key parameters, guided by CPP indicators pertinent to the online medium and buyer.
The framework proposed in this research aims to use existing tools and indicators to realize a CPP. It also incorporates essential requirements and BIM concepts that can form the basis for the system design of applications that can ease the decision-making process of the stakeholders in a CPP.