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GET MORE VALUE FROM YOUR FACILITIES CAPITAL SPENDING

How does your organization determine which capital projects to fund? Does your current approach ensure that funding decisions maximize your organization’s financial, operational and mission-related goals? Or does the “squeaky wheel” too often get the grease?

While capital projects represent a significant investment for an organization, the process used to determine which projects to fund is often highly subjective. Perhaps this is not surprising given the many overlapping and competing considerations and priorities involved, as well as the many stakeholders – each with their unique perspective – in the decision-making process.

VFA’S FACILITY ASSESSMENT SOLUTIONS

The VFA capital budgeting solution helps organizations utilize facilities capital planning to reduce risk, lower cost, improve operational efficiency and enhance customer satisfaction. We do this by helping you to ensure that:

  • Capital spending aligns with business priorities
  • Facility investments are optimized to support long-term goals and objectives
  • You can demonstrate a clear, consistent rationale for investment decisions
  • Key stakeholders understand how varying priorities impact capital funding decisions

Designed with input from facilities managers and institutional planners, VFA’s solution unites the art of collaboration and consensus building with the science of hierarchical decision-making to deliver a best-practice approach to capital budgeting.

CREATE A BETTER CAPITAL BUDGET THAT: 

  • Reduces risk: business, financial, safety, legal and reputational
  • Lowers costs
  • Increases operational efficiencies
  • Improves customer satisfaction
  • Gets you recognized for facilities excellence

FIVE STEPS TO A BETTER BUDGET

  1. ESTABLISH THE TEAM

    We begin by working with your organization to define the team responsible for establishing key goals, objectives and responsibilities, including:
         •  Finance
    ​     •  Facilities
    ​     •  Operations
    ​     •  Executive Management

  2. CREATE A COMMON UNDERSTANDING

    Accruent provides the team with an overview of facility assessment and capital planning processes, including:
    ​     •  Assessment terminology
    ​     •  Categorization methods
    ​     •  Cost estimation
    ​     •  Funding strategies

  3. DEFINE PRIORITIZATION CRITERIA

    Using proven processes for articulating business drivers and priorities, Accruent consultants work with your team to build consensus about strategic goals and values and how they will be applied to prioritize capital needs.The group determines the criteria that will be used to prioritize facility requirements, and ranks these factors using pairwise comparisons in the Capital Budgets Ranking module in VFA.facility®.Factors can include:
         •  Building Use
    ​     •  Type of building system
    ​     •  Current facility condition
    ​     •  Impact of remediation on condition

  4. PRIORITIZE REQUIREMENTS
    By applying a defined ranking strategy to a single facility or an entire portfolio within VFA.facility, users can see what requirements will be addressed at a given funding level. VFA.facility provides sophisticated tools for evaluating the implications of various prioritization schemes and funding levels. An organization may define multiple ranking strategies for various scenarios, including:
         •  Different types of assets
    ​     •  Different funding sources
    ​     •  Different organizational priorities
    ​     •  Short vs. long-term needss

  5. CREATE THE BUDGET
    Based on the ranking strategy selected, VFA.facility produces a multi-year capital budget, with a ranked list of funded requirements, and enables modeling of funding alternatives that will achieve the organization’s facility and business objectives. The end result is a capital budget that:     
         •  Reflects accurate condition and cost data
    ​     •  Aligns spending with organizational goals
    ​     •  Delivers the greatest business value
    ​     •  Provides flexibility when budget changes

THE VFA ADVANTAGE

Capital Planning Expertise Combined with State-of-the-Art Software our consultants have provided Capital Planning and Management Solutions (CPMS) to government, education, healthcare, banking and other corporate organizations since 1998. Clients can easily create defensible multi-year capital plans and budgets with the help of our consultants and their wealth of experience. You can easily understand the impact of business priorities on capital plans, make adjustments as your business needs evolve, and readily create capital budgets and projects that reflect current priorities with our sophisticated software.

LEARN MORE

Contact Accruent to learn how VFA solutions can help your organization obtain objective data for strategic facilities capital planning and management.

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Tags: vfa.facility, facility capital planning