Overview
The final core element of asset management is project-based oversight/performance
assessment. The current Public Housing Assessment System (PHAS) examines
mostly PHA-wide activities, not project-specific activities. As such, HUD is revising
PHAS to emphasize project-based performance and monitoring. Under asset
management and, therefore, the new PHAS, each project will be evaluated on its
financial and management performance in addition to its physical condition. A
central part of this new performance measurement structure will be a system of
on-site management reviews of each project. PHAs will also be assessed in the
obligation and expenditure of Capital Fund dollars. As for internal
PHA performance measurement, the final rule does not stipulate a specific frequency
or manner. PHAs should develop internal mechanisms to monitor the performance
of each property in such a frequency or manner that is consistent with best practices
in multifamily housing. Resources and Links
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