Data gathering for capital planning.
How to gather data:
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:
- The composition of your facility portfolio.
- Existing physical condition of your facilities.
- The required remediation and associated costs.
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.
Ensure data accuracy.
In addition, you can engage in a self-assessment to collect the data. To ensure accuracy, it is 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 will be able to collect essential data to inform your capital planning process, including:
- Building profile, such as the size, age, construction type and location.
- System renewals, including the HVAC, roof and exterior.
- Condition data such as urgent issues and code violations.
- Non-condition data focused on strategic and programmatic information that feeds risk and criticality factors.
Interested in learning more? Contact us today!
In case you missed it, check out the other blog posts in the series:
- 7 Steps to Better Capital Planning
- 7 Steps to Better Capital Planning: Data Gathering
- 7 Steps to Better Capital Planning: Analyze Benchmarks
- 7 Steps to Better Capital Planning: Prioritize Capital Projects
- 7 Steps to Better Capital Planning: Funding and Defensible Budgets
- 7 Steps to Better Capital Planning: Prepare for the Future