Managing a large portfolio of real estate and assets can be challenging when deciding how and where to spend your limited budget. Which asset deficiencies need to be addressed immediately? Which capital projects are more important than others? Should you renew or replace your administration building that needs significant work? Are you budgeting properly for replacement needs in the future? These are the kinds of questions that facilities and asset executives are faced with regularly, and that Strategic Planning Software can help with.
Planning for your repair and renewal needs starts with understanding the condition of your facilities and assets, which starts with having a complete inventory of everything. With a database of all your assets, you can perform a Facility Condition Assessment (FCA) and track individual asset deficiencies and their severity. For example, it's important to know the condition of a roof, it's expected remaining life, and the estimated cost of repairs and eventual replacement ...so it can be adequately planned for. Sounds simple, but doing this for a portfolio of buildings, all their systems and components requires specialized software.
There always seem to be more capital projects than budget to tackle them. How do you decide which projects are more important than others? With strategic planning software, you can categorize projects, stack-rank them, and compare various funding scenarios. Furthermore, strategic planning software should help you select projects that are best aligned to your organization's mission and priorities. For example, projects that address accessibility and/or safety needs are probably a top priority, while projects that serve your organization's mission of better customer service to the community may be next, followed by projects that shore up infrastructure, and so on. Strategic planning software can help you determine what all can be addressed with the limited funding you have.
Periodic renewal and replacement of building assets typically represents 35-45% of the total cost of owning a building, which is a significant cost that needs to be budgeted for. If you have a large portfolio of properties, you ideally want an Integrated Workplace Management System (IWMS software) that can track all of your assets, their condition including deficiencies, and expected expenditures over future years so you can plan accordingly. An IWMS system with strategic planning capabilities can help you spend your limited budget dollars in such a way that best meets the needs and mission of your organization.
FacilityForce's Operate Capital Improvement tightly aligns strategic capital planning, capital projects and facilities maintenance, creating a lifecycle of: needs assessment > investment planning > project selection and funding > project execution, which leverages shared data, reduces costs and promotes greater transparency across the organization.
The solution provides the ability to track and group deficiencies and renewal needs to build a complete picture across your portfolio. This allows you to have those discussions with leadership supported by real data so you can confidently report priorities and potential funding constraints into future budget cycles. You can run scenarios of budget allocation against needs to help clarify what can be done and what might fall short.
Our Asset Inventory and Capital Budgeting Solution seamlessly integrates facility and asset management with capital planning using an extensive range of tools and mobile apps under a single, unified software platform. The solution allows you to store both asset lifecycle and deficiency data within our industry-leading, integrated system. Accurate, real-time asset and assessment data makes data-driven, long-range strategic planning and budgeting a reality.
The best integration is "no integration", meaning everything you need resides in a single software platform as opposed to integrating disparate systems. FacilityForce is designed from the ground up to use a common database of properties and assets, which provides a seamless experience across the board.
Whether or not you leverage them all, the fact that FacilityForce offers real estate & lease management, space management, maintenance & operations, capital planning & project management, and energy management means room for growth.
FacilityForce achieves TX-RAMP Level 2 Certification to further its commitment to security and...Keep reading
The best way to confirm whether our software is a good fit for your organization (and vice versa) is for us to discuss your specific challenges and goals, so let's talk...