Overview

As part of asset management, PHAs must also convert to project-based management (PBM), the forth building block of asset management. As stated in 24 CFR 990.275:
 

PBM is the provision of property-based management services that is tailored to the unique needs of each property, given the resources available to each property?Under PBM, [these] property management services are arranged, coordinated or overseen by management personnel who have been assigned responsibility for the day-today operation of that property and who are charged with direct oversight of operations of that property. Property management services may be arranged or provided centrally; however, in those cases in which property management services are arranged or provided centrally, the arrangement or provision of these services must be done in the best interest of the property, considering such factors as cost and responsiveness.