"People don't plan to fail; they fail to plan."
This is what separates great facility managers and stewards from mediocre ones. Are you proactive or reactive? Are you planning for the future or just dealing with what is urgent?
You have been entrusted with your facility. Therefore, you must be proactive with stewarding your assets. If you are unsure where to start, our newly released Facility Health Assessment will provide you with a great starting point.
Another important part of future planning is addressing your capital reserve plan. It is essential to remember capital renewals and replacements are not an “if” question. Instead, they are “when” and “how much” questions. These costs are inevitable. You will replace every HVAC unit, every inch of carpet, every square foot of roof, etc.
Facility Health Assessments and Life Cycle Planning
Not only will the Facility Health Assessment provide you with critical data points related to facility health and benchmarking, but it will also jumpstart your life cycle planning. Based on data provided to our team of Facility Stewardship Specialists, you will get access to a FREE, preloaded eSPACE Life Cycle Calculator. This initial preloaded calculator will include your HVAC systems, roofing, parking/paving, and flooring data. With data provided by your team, we will provide you with:
- A projected inflation factor
- Remaining useful life for each item
- Projected current replacement costs
- Total projected replacement cost, including inflation
- Annual budgets per line item to have adequate funds at the end of life
- Estimated “retirement” date for each item
- Annual year-over-year summary of funds needed
- Cash flow of the capital reserve funds
Life Cycle Planning is Key
eSPACE Life Cycle Calculator is a free tool. Therefore your church can continue to use and build it out to identify more items in your facility. The reality is that everything that comprises your facility or is “in” your facility has a life cycle. Having projections on replacement costs and the time frame to save for these costs is an important process.
Ready to get started? Click HERE to learn more.