Facilities are one of your institution's largest and most visible physical assets. So, why wouldn't you want to improve operational efficiency? Physical assets are an essential component of any institution. They provide a physical space for the organization's operations and play a crucial role in creating a positive impression on visitors and stakeholders. Ensuring efficient and effective facility management is paramount to the institution's success and reputation. Read on to find out how to improve physical asset performance.
How to Improve Physical Asset Performance
In today's fast-paced and competitive environment, where every organization strives to do more with less, improving operational efficiency has become a top priority. Institutions can achieve significant cost savings by optimizing resource use, reducing waste, and streamlining processes while enhancing the user experience. This blog discusses smart ways that Facility Condition Assessments (FCA) will improve operational efficiency, make facility management easier, and improve physical asset performance.
Read the Intellis Guide to implementing a facility optimization strategy.
The number 1 way to improve operational efficiency for buildings and facilities is by collecting quality data and insights during a facility condition assessment. From aging infrastructure to ensuring health and safety compliance to shrinking budgets, facility managers are tasked with myriad constraints. Therefore, it is critical for facility executives to know how every building, physical asset, and system performs. In addition, facility managers must be aware of areas for potential facility optimization that go above and beyond energy savings.
Know What You Have
Facility Condition Assessments provide the facilities teams with a comprehensive list of the current state of all physical assets. They will give your team a 360-degree view of all existing facilities, systems, and physical assets.
Discover how The FOUNDATION Solution simplifies and improves facility condition assessments.
More than simply one building or asset, at Intellis, we know that today's facilities managers are in charge of entire real estate portfolios that are made up of hundreds and thousands of individual components that must all be maintained like a well-oiled machine daily. Facility Condition Assessments aim to answer four critical questions:
- What do we own?
- What condition is it in?
- What are the values and liabilities?
- What is the plan for the future?
Knowing the answers to these questions is essential for the success of any institution. On a basic level, the FCA is a review of the material condition of assets, the ease of access outside and inside the facility, the functionality of operating equipment, the performance, estimated remaining useful life of assets based on the Building Owners and Managers Association standards, and estimated costs for repairs versus replacements.
Find out how technology can improve performance for your corporate real estate portfolio.
This thorough examination of each building, system, and component offers facility managers and executives a comprehensive view of the current state of existing facilities so that they can prioritize repairs and upgrades and forecast future capital investments.
Keep Capital Planning Executives Informed
Facility condition assessments are valuable tools for organizations in forecasting budgets and long-term investments. The Intellis FOUNDATION Solution can help streamline facility condition inspections by providing best-in-class workflows and costing libraries that consider industry-wide replacement value benchmarked against deferred maintenance deficiencies.
This data gives executives a full-spectrum view of the status of existing assets across all facilities. The data collected during an FCA is a valuable tool for long-range planning. It enables executives to make decisions based on comprehensive reports and provides a strategic framework for planning future improvements.
Make Data-Driven Decisions
Facility assessments support everyday decision-making backed by real-time information and insights. Facility management platforms, like The FOUNDATION Solution, are designed to process the large amount of data collected during a facility assessment and package it into a digestible, simplified, mobile-friendly report that enables you and your management team to make decisions quickly on the fly.
See how Intellis improved Facility Condition Assessments for the New York Housing Authority.
For example, FOUNDATION offers a dynamic condition model of your healthcare organization's entire physical asset portfolio. This enables you to prioritize and categorize assessment data and integrate it directly into your maintenance, capital projects, and budgetary planning. The FOUNDATION Solution takes this one step further with its mobile component, allowing your team to stay connected inside and outside the office.
Intellis' mobile-enabled platform provides project overviews, analyses, building biographies, and deficiency condition reports. Furthermore, you can upload photos directly from the field, add comments, and view estimated repair costs. Ready to improve physical asset performance and take your facility condition assessment to the next level?
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Looking for ways to improve the operational efficiency of your institution? Look no further than Facility Condition Assessments (FCA). By collecting quality data and insights during an FCA, you can optimize resource use, reduce waste, and streamline processes while enhancing the user experience. Intellis offers the FOUNDATION Solution, which simplifies and improves facility condition assessments, allowing you to prioritize repairs and upgrades and forecast future capital investments. With a comprehensive view of the current state of your physical assets, you can make data-driven decisions that will improve physical asset performance and boost your institution's success and reputation. Check out Intellis' guide to implementing a facility optimization strategy and see how facility condition assessments can help you save money, mitigate risk, and improve efficiency.
