By Ameeta Soni, Chief Marketing Officer, VFA, Inc.
What is a Facility Condition Assessment?
A Facility Condition Assessment (FCA) is a comprehensive inventory of all the facilities in a portfolio. VFA performs a facility condition assessment as part of its core services. Conducting a facility condition assessment provides detailed information about all the current building deficiencies. A detailed facility condition assessment will estimate the costs associated with renewal, repair, and code compliance issues, and determine both the immediate and long-term cost liabilities for building component lifecycle renewal, deferred maintenance, and functional inadequacies, based on industry-standard cost databases such as RSMeans and expert cost models. This information allows facility managers to not only address current operational requirements, but also improve facility renewal forecasting and capital funding scenarios for capital project planning efforts.
Why is it important to have a Facility Condition Assessment?
A Facility Condition Assessment allows facility managers to manage assets from both a financial and operational perspective, including the preservation of business continuity and avoidance of risk. A facility condition assessment allows organizations to plan and prioritize which facility assets need to be repaired or replaced. In most cases, building repairs that are done proactively, rather than in an emergency, are more effective and less expensive. One of our customers, the University of Texas at Austin, took the results from their FCA one step farther by inverting their capital spending matrix. Now, instead of spending mostly on repairs, UT Austin spends a majority of their capital expenditures on renovations and renewal projects. A comprehensive facility condition assessment allows the facilities management team to clearly make the case for repairs when funds become available. The ability to effectively forecast capital asset needs can raise the value of the facilities team within the organization.
Please visit our Facility Condition Assessment page for more information on VFA’s facility condition assessment services.