By National Research Council, Division on Engineering and Physical Sciences, Board on Infrastructure and the Constructed Environment, Committee on Business Strategies for Public Capital Investment
Amenities now owned by way of the government are worth over $300 billion. It additionally spends over $25 billion consistent with 12 months for acquisition, protection, and maintenance. regardless of the dimensions of those sums, there's a growing to be litany of issues of federal amenities that maintains to place a drain at the federal price range and compromise the effectiveness of federal prone. to check how you can handle those difficulties, the sponsoring organizations of the Federal amenities Council (FFC) requested the nationwide examine Council (NRC) to boost guidance for making more suitable judgements approximately funding in and renewal, upkeep, and alternative of federal amenities. This record offers the results of that overview. It offers a evaluation of either private and non-private practices used to aid such determination making, and identifies acceptable pursuits, practices, and function measures. The record offers a chain of options designed to help federal corporations and departments increase administration of and funding selection making for his or her amenities.
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1). 1 The evolving focus of facilities asset management. SOURCE: Then, 1996; 2003. 2 Factors driving the evolution of facilities management. , 2002; 2003. One driver of this evolution is the emphasis by private-sector organizations on results-driven management strategies for all aspects of their operations. This shift is also indicative of the increasing recognition of facilities as “mission enablers” that support organizational goals, work processes, and productivity. 2). As noted by corporate real estate expert Martha O’Mara, the organizational emphasis of corporate real estate is shifting from a functional project management approach based on how buildings are delivered to one which aligns with the structure of the company and the way work is conducted.
However, decisions made during design and construction about how much to invest in a building’s materials and systems can significantly impact its operating and “exit” or disposal costs. Operation and maintenance costs typically are 60 to 85 percent of the total life-cycle costs, with land acquisition, programming, conceptual planning, renewal or revitalization, and disposal accounting for the remaining 5 to 35 percent (NRC, 1998; FFC, 2001c). For facilities to perform adequately and reach their design service life, annual investments in preventive maintenance and minor repairs are required.
As maintenance is deferred over the longer term, however, the capital investment required to renew or replace a facility is twofold: the replacement cost and the return on the original investment. It has been estimated that the cost relationship is between $4 and $5 in capital liability created for each $1 of deferred maintenance (Kadamus, 2003). Thus an accumulation of deferred investments over the long term may be significantly greater than the short-term savings that public-sector decision makers were initially seeking.