Before setting out to obtain data about facility conditions, it is vital to first understand the overall objectives, along with the level of required data and available resources. Once the goals are understood, there are a variety of data collection methods that can be chosen to best suit the needs of the organization.
After the completion of the facility condition assessments, Mississauga found that the current replacement value of their building and site assets was just under $1.3 billion. With a FCI of 0.12, the city’s portfolio was in good condition overall. Using VFA.facility as a decision tool, the city can run funding scenarios and prioritize projects, turning the results into defensible capital plans.
Wednesday, February 22, 2017 @ 1:00PM CT | With VFA’s Funding Buckets feature, you can more easily and effectively implement your capital budgeting strategies to maximize the effectiveness of your campus' capital funding.
This paper describes an approach to successfully aligning an organization’s facilities capital budget with its strategic business objectives. This process enables objective prioritization of competing needs in order to optimally allocate capital funds and deliver the greatest business value.
This paper discusses the effective development of strategic multi-year facilities capital plans in the college and university environment, and how to align those plans, prioritize competing capital priorities, understand the impact of funding scenarios and create cost-effective capital projects.
In this 1-hour webinar learn how you can take your capital planning program to the next level by managing the transition to a strategic capital planning approach, leveraging your capital planning program to support organizational goals, and communicating the value of your facilities and initiatives to the executive level.
Facility 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 that arise.
An organization’s facilities are one of its most significant assets. Yet managing the wealth of information related to those facilities and their various building systems is an ongoing challenge, particularly for organizations. Data about value, condition, age, and function, as well as about maintenance and renewal needs, is often scattered across multiple locations and systems, creating islands of knowledge.
Get more value from your Facilities Capital Spending. The VFA.facility capital budgeting solution helps organizations utilize facilities capital planning to reduce risk, lower cost, improve operational efficiency and enhance customer satisfaction.
With a vast portfolio, the biggest burden for the Infrastructure of Ontario was the management of Excel spreadsheets from across the province. "VFA has simplified the ability to create one comprehensive 10-year capital plan for 1,000 buildings in 15,000 line items rather than 15,000 spreadsheets,” said Marion Birkenhead, capital planning manager, Infrastructure Ontario.
Over the past two years, the University has changed its methodologies in how it executes building condition assessments. With the new assessments and VFA Facility, the University is able to break down the system-by-system components to help better identify the specific areas that need attention. With VFA Facility, the University has also been able to implement rules around entering information to promote data cleanliness and accuracy.
Using VFA Facility, the Facilities team reduced their time frame for creating budgets, improved forecasting, and was able to create comprehensive reports that enabled them to get “buy-in” from university leadership as well as building occupants. Since the adoption of VFA Auditor, JMU inspectors are able to assess four times more square feet in a fiscal year using the same resources. Time spent in the office was reduced dramatically from two weeks to two days because of the direct data feed into VFA Facility.
A step-by-step process ensures better results, reliability.
By Lora Mays
This webinar demonstrates the value of investing in your facilities. The University of Texas at Austin implemented a set of solutions to help identify high-priority capital investments along with proactively addressing day-to-day maintenance needs.