It’s 2021–Have You Reserved Funding for Your Building Maintenance?

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It’s 2021–is your 2021 expenditure funding consistent with your Facility Condition Assessment (FCA)? Is it it adequate? Is it optimized?

Funding optimization can be achieved by applying good engineering practices that keep the building in optimal condition while minimizing the operational costs required to do so. How do you accomplish this? By making decisions based on accurate data based on the latest codes, standards, and building condition assessment.

It doesn’t matter whether the building is residential, industrial, institutional, or commercial; all of these have common equipment and building components that have their own life expectancies. Determining the exact health of a facility’s components can aid in timely restoration and overhaul, which keeps the facility in an overall good state of repair. This, in turn, will significantly cut the extra operating costs and help preserve funding for future maintenance of the building.

When balancing multiple buildings and several stakeholders, it can be difficult to decide how to best allocate your funds. When it comes to future expenditures, you need to be able to be flexible to adapt to changing building component priorities.

This is where a Facility Condition Assessment (FCA) software comes in! It applies advanced algorithms that allows you to justify your renewal needs and make the best use of your funding, while helping you to balance your facility condition index (FCI) across all of your assets.

Furthermore, it gives you the capability to create unlimited funding scenarios for well-informed decision-making. You can create scenarios that best meet your needs, prioritize your facilities based on criticality, and build requirements that fit your budget.

If you’re looking to optimize your budget, check out our top four tips:
  1. Choose the right Facility Condition Assessment team with experienced professionals, including architects, engineers, and skilled technicians.
  2. Use our state-of-the-art FCA software to simplify, streamline, and properly manage the FCA data collection process. The software also improves record consistency across your facility and inspection teams.
  3. Review the financial records of your facility and compare current operations with past data.
  4. Transition your focus from short-term operations to long-term strategies for your building.

By pursuing a comprehensive Building Condition Assessment and regularly updating the assessment data, you can build and optimize a building maintenance budget that both improves your bottom line and increases your profit margins.

Click to learn what type of Facility Condition Assessment is best suited for your facility!

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