Posted on 10/30/2015
By: Lora Mays, Product Marketing Manager
Last week, we kicked off our blog series about how you can improve your capital planning. Our first post covered the first step in the process – how to define the facility capital planning within your organization.
With the facility capital planning process defined, next up comes the data gathering process. Knowing that your data is valid can help you create accurate cost and condition estimates, which serves as the basis for a successful facility capital plan.
Before you start to think about how you will capture this data, first determine what information you need to gather. To know which investments you need to make in your facilities, you need to understand:
If you have multiple buildings within your portfolio, take it one step beyond putting together a list of the facilities. Prioritize the buildings based on organizational mission, identifying those that are essential to operations and that should be managed as longer-term investments. Tying your facilities to the strategic mission of our organization can ensure that your investments are in line with broader organizational priorities.
With your buildings outlined, you can move forward with collecting the building data. There are a number of ways that you can inform this process. Using independent assessors (mechanical, electrical and architectural engineers) with qualifications to collect accurate, unbiased data results in the most objective information to fuel your facility capital planning process. A team of assessors will survey the buildings, systems and infrastructure assets in detail using consistent best practice methodologies.
In addition, you can engage in a self-assessment to collect the data. To ensure accuracy, it’s important that you standardize self-assessment tools and establish a consistent, repeatable process for internal staff. This option is often preferred by organizations to supplement the evaluation by independent assessors to ensure data accuracy and maintenance throughout the facility capital planning process.
Through these methods, you’ll be able to collect essential data to inform your capital planning process, including:
Interested in learning more? Contact us or stop by next week for the next post in this series, where we talk about step 3 regarding benchmarking.