Estimating Facility Life-cycle Costs is a critical aspect of facilities management.
Key elements associated with Estimating Facility Life-cycle Costs include the following:
- Experience
- Detailed Project Data
- Systems costs and systems life-cycles
- Detailed unit price line item information
- Current and desired physical condition levels
- Annual expenditures for operations and maintenance
- Used of standardized data architectures (CSI Uniformat, CSI Masterformat)
- Use of common, easily understood industry terms and definitions
- Building models for multi-year capital planning – including system-level models, linked to unit price data and energy use models, etc.)
- Expected system/assembly life-times
- Current percentage of life used
- Failure mode/failure distribution – percentage and associated curve
- Priority – system criticality
Managing Life-cycle Costs
With respect to efficiently executing the numerous repetitive renovation and repair costs during the life span of a facility, Job Order Contracting, JOC is a LEAN collaborative construction delivery method that has proven capable of delivering over 90% of project on-time, on-budget, and to the satisfaction of all parties. Learn more about JOC?
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