Join us as we take a hard look at FCA’s and the information you really need for accurate capital planning.
By: Glenn Adams
Do you ever get that nagging feeling you’re forgetting something important? It’s that awful sense you’re missing omitting something vital from your briefcase when you leave home for an important meeting. Or, that date on the calendar you know holds significance, but you can’t recall why.
Don’t feel guilty. It happens to all of us – and the feeling leeches into our projects at the office.
As a facilities management professional, you oversee many high priority aspects of your university, so this feeling is compounded as you make capital plans (and probably haunts your nightmares).
But, there is a solution.
By focusing on a few small steps, you can transform existing capital planning procedures into a fruitful and productive process.
As you know, capital planning can leave you with that “I know I’m forgetting something” feeling like few other tasks.
And, I am on a mission to change that.
Join me in an exercise.
Take a deep breath. Think about your current projects. Are you confident your multi-million dollar decisions are based upon current, credible data?
Now, take another look at the performing facilities condition assessments (FCA).
Are you willing to stand in front of the board and speak confidently about a ten-year roofing plan? I would bet most of you are VERY confident about the next two years – but, what about the coming decade?
I’m sure you know the next dozen projects you want to execute. You know the worst five roofs in your inventory and have a project (or three!) just waiting to be funded.
Few can answer the tougher follow-up questions about their plan: How much money do you anticipate spending on roof replacement in 2021? What about 2023?
When it comes to FCA, I’m still a cheerleader, because, capital planning is about two simple words – credible data, and that never goes out of style.
Both clarity in vision and confidence diminish rapidly the further we attempt to see into the future. Often, these decisions are made with imperfect and incomplete data sets.
Think of your favorite college or university and answer this simple question – How many of the roofs on that campus should we anticipate renewing, removing, or replacing in the coming years?
That’s a tough one, right?
The correct answer is all of them.
Many institutions are in their second century of existence and I don’t see them closing up shop any time soon. As long as the institution is open, structures will need repair or replacement.
Long-range planning is about seeing that wide shot, looking at an entire portfolio, and thinking strategically about investment opportunities.
If you agree that they all need to be on the list eventually, why not now? This sentiment is at the core of facilities condition assessment. Integrated workplace management solutions make it easier than ever to keep up with your data and make it both credible and complete.
It’s a little bit like initiating your exercise routine. You know you need to do it, you just need to take that first step. So, how about that roofing plan?
About Glenn: I’m a software product manager for AssetWorks, specializing in Capital Planning, Project Management, and Facilities Condition Assessment. I received my Management of Information Systems degree from Auburn University after a six-year enlistment in the Navy. My twenty year career as an enterprise system manager working exclusively with maintenance, design, and construction personnel earned my spot on the AssetWorks team in January of 2013. A persevering golfer and committed Tiger fan, I reside in Auburn, Alabama with my wife, Dr. Jennifer Wood Adams, and our two daughters, Harper Elizabeth, and Spencer Caroline.