(a) PHAs shall manage their properties according to an asset management model, consistent with the management norms in the broader multi-family management industry. PHAs shall also implement project-based management, project-based budgeting, and project-based accounting, which are essential components of asset management. The goals of asset management are to:

1. (1) Improve the operational efficiency and effectiveness of managing public housing assets;
2. (2) Better preserve and protect each asset;
3. (3) Provide appropriate mechanisms for monitoring performance at the property level; and
4. (4) Facilitate future investment and reinvestment in public housing by public and private sector entities.