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Estimating Facility Life-cycle Costs

Job Order Contracting

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. Systems costs and systems life-cycles. Expected system/assembly life-times. contact-form].

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Credible Construction Estimate Core Elements

Job Order Contracting

A credible construction cost estimate is required prior to engaging in procurement. The follow elements are common to a credible construction cost estimate. Credible Cost Estimate Core Elements #1 Objectivity – The information used and those invovled in the creation of the construction cost estimate must be objective.

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12 Step Program for Creating Credible Construction Estimates

Job Order Contracting

The below 12 Step Program for Creating a Credible Construction Estimate is a valuable tool for any real propery owner or services provider. #1 1 Define estimate’s purpose ■ Who will use the estimate and how. Monte Carlo simulation) to develop a confidence interval around the point estimate. ■

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Digital Twin – Aligning the physical and functional status of buildings and other physical objects with a corresponding digital model makes it possible to monitor and optimally manage capital reinvestment throughout their life-cycle.

Job Order Contracting

Aligning the physical and functional status of buildings and other physical objects with a corresponding digital model makes it possible to monitor and optimally manage capital reinvestment throughout their life-cycle. Requisite Components of a Physical Asset Life-cycle Management Solution.

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LEAN Construction Project Delivery and Facilities Operations, Maintenance, and Life-cycle Management

Job Order Contracting

An understanding of LEAN fundamentals and their application to O&M and overall Facilities Management is of great benefit to all participants and stakeholders. Promoting awareness and education with respect to LEAN O&M best management practices would drive significantly improved outcomes. LEAN Practices Asset Competency Model.

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Facilities Lifecycle Management

Job Order Contracting

Facilities Lifecycle Management requires increased competency on the part of facilities owners and facilities management. See asset life-cycle model… A total cost of ownership perspective is also required as opposed to the more prevalent practice of first-cost dominance. contact-form].

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The “I” for Information if Building Information Modeling or Life-cycle Facility Management

Building Information Management

While articles and discussions continue about Facility Management and BIM, in reality they are virtual synonyms. Facility management is a profession that encompasses multiple disciplines to ensure functionality of the built environment by integrating people, place, process and technology. – NIBS.