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ENSURING AN ACCURATE FOUNDATION FOR CAPITAL PLANNING

Facility condition assessments provide a wealth of information about the current conditions and deficiencies of an organization’s real estate portfolio. However, in order to remain an effective foundation for capital planning, this information must be continually updated to reflect both completed improvements and new requirements.

While organizations recognize the importance of accurate data, they may lack the personnel, time or expertise necessary to keep this information updated. And as facilities capital budgets are increasingly stretched to do more with less, the time between assessments often increases as well.

How can organizations ensure that they are effectively planning for the needs of their facilities as these needs continually evolve?

OPTIMIZE THE VALUE OF FACILITY CONDITION DATA
Accruent can assist customers in maintaining accurate information about the condition and requirements of their facility assets between physical building inspections. VFA.facility Data Maintenance Services help organizations ensure that they optimally leverage their investment in facility assessments and continue to maintain an effective foundation for capital planning.

VFA.facility Data Maintenance Services enable organizations that use the VFA.facility condition assessment software to maintain current information about capital asset conditions and needs in order to:

  • Inform annual budgets and long-term investment decisions
  • Improve productivity of in-house staff, reducing the time required to update asset information, create projects and produce reports
  • Ensure metrics such as the Facility Condition Index (FCI) reflect current conditions and planned and completed improvements
  • Quickly determine the impact of shifts in portfolio strategy

VFA.FACILITY DATA MAINTENANCE SERVICES
Working with customer staff, Accruent professionals, experienced in the evaluation of facility conditions, provide updates and enhancements to existing data in VFA.facility at regular intervals, typically quarterly or twice a year. This process includes collection and review of relevant information, updates to VFA.facility requirements and actions, and preparation of a final report outlining all changes.

Updates to VFA.facility data include:

  • Changes to existing Requirements, Actions and Projects to reflect work completed or modifications of scope
  • Creation of new Requirements, Actions and Projects based on customer input
  • Updates to Systems when significant projects have been completed

A final report summarizes all changes to requirement information in the portfolio, and impact on FCI and other metrics.

Based on an organization’s needs, Accruent can also provide related services such as generating updated budgets based on selected ranking scenarios, portfolio rationalization, or software training.

THE VFA.FACILITY DATA UPDATE PROCESS
1. Produce reports from VFA.facility on current requirements for relevant assets and distribute to customer staff for review.
2. Collect relevant information from customer staff, such as completed work order reports, new requirements or project tracking forms.
3. Identify opportunities to automate the update of requirement data (such as data exchange with an existing work order management system).
4. Review changes with customer, refreshing VFA.facility to include:
          • Updates to existing Requirements, Actions and Project data in VFA.facility
          • Creation of new Requirements and associated Actions, with related pricing, and grouping of requirements into Projects as appropriate
          • Updates to “Years Remaining” for Systems when significant projects have been completed or new requirements have been identified that were not part of a prior assessment
5. Summarize changes in a final report indicating all changes to asset information in the portfolio, and the impact on FCI and other metrics.

VFA.FACILITY DATA MAINTENANCE SERVICES HELP YOU LEVERAGE YOUR INVESTMENT IN ASSESSMENTS:

  • Maintain current condition and requirement data between actual physical assessments
  • Improve the productivity of in-house staff by reducing time spent on updating asset data
  • Ensure an accurate foundation for ongoing capital planning

LEARN MORE
Contact Accruent to learn how VFA software and assessment services can help your organization objectively model multi-year capital plans that optimize building portfolio investments and align with your mission.

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Tags: vfa.facility, facility condition assessment, facility capital planning