By Ameeta Soni, Chief Marketing Officer, VFA, Inc.
In a recent article in Area Development Online, VFA’s Vice President Ray Dufresne discusses the critical need for effective facilities capital planning and management. It’s imperative that any facilities capital plan is in sync with the organization’s overall business strategies.
The rewards of strategic facilities capital planning and management are numerous. With the right facilities capital planning and management process in place, organizations are able to:
- Develop a long-term view of capital planning with accurate multi-year forecasting
- Make investment decisions based on objective, analytical, and transparent information
- Reduce financial, operational, and legal risks
- Deliver substantial cost savings and efficiency gains
Organizations with strong processes and systems for assessing facility condition, prioritizing requirements, and documenting the impact of alternative funding scenarios are best positioned to advance their objectives.
What processes and systems do you have in place for facilities capital planning?