How can capital planners prepare for climate change?
Facility capital planners can prepare for climate change by integrating resilience frameworks and embedding climate risk assessments into Capital Improvement Programs. Now is the time for facility managers and capital planners to equip buildings and infrastructure for the impact of climate change.
Facility managers and capital planners need to assess the efficacy of existing physical assets to withstand current and future stresses and plan for asset rehabilitation, relocation, or replacement. In addition, organizations must make new capital investments to ensure infrastructure is designed to withstand climate risks expected over the asset lifetime.
Build Your Climate Resilience Plan with FOUNDATION
Investing in and planning for climate resilience is a priority for facility managers. However, meeting this growing need is no simple feat. Schools, Corporate Real Estate, and Colleges and Universities already have limited budgets for daily upkeep. Increasingly, facility managers and Capital Planners find it challenging to make improvements to meet today's changing needs.
Scarcity of funding means many industries do not have the required funding available to build climate-resilient capital plans. However, historically, FMs ignored the need to plan for climate change; it is now increasingly unavoidable. The damage and destruction of infrastructure and buildings due to extreme weather events are on track to increase exponentially in the future.
The most crucial part of climate resilience is planning. Our FOUNDATION software platform has proven to help facilities in many industry sectors. In addition, it can assist in preparing buildings and physical assets for weather destruction.
FOUNDATION connects four primary functions:
- Conditions: This enables users to gather onsite inspection data directly on a mobile device, create real-time reports, and drive deficiency-based renewal and replacement planning.
- Needs: analyzes data collected through Conditions to track and prioritize deficiencies across the entire network of buildings and grounds.
- Projects: automatically scopes, estimates, and schedules facility management and capital planning projects.
- Plans: integrates with enterprise financial systems to provide real-time views of commitments and spending.
Using FOUNDATION to develop your climate resilience plan enables capital planners to:
- Quickly assess property conditions.
- Efficiently determine which needs must be addressed following industry compliance standards.
- Easily define the scope of projects.
- Build robust strategies to ensure facility safety and compliance.
- Finally, generate comprehensive reports that stakeholders can easily share across multiple levels of the organization.
Addressing these factors before the next extreme weather event will save you time and money upfront and in the long run. In addition, planning for the future with FOUNDATION will enable the facility management team to identify critical savings and stay within budget.
Implementing software for improving Capital investment and asset management planning for infrastructure and facilities such as roads, bridges, buildings, water, and wastewater systems will make this process more efficient.
Embedding climate vulnerability considerations into existing capital planning and financing processes is a practical and cost-effective tool. It ensures that physical assets continue to function as expected and builds community resilience in the near- and long term.
Benefits of an integrated planning approach include minimizing service disruptions, enabling investments to be aligned with business priorities, and making the best use of limited funds.
Talk to us directly to learn more!