Summer 2022 Newsletter

Facility Condition Assessments and the Importance of a Digital Platform

In today’s world, where everything seems to be operated by a “smart device,” it only makes sense that a Facility Condition Assessment (FCA) should follow suit.

The FCA process provides a necessary foundation for capital planning that helps clients make educated decisions to improve their facilities by optimizing and maintaining the physical condition and value of the facility’s assets; developing capital budgets; and prioritizing resources. The FCA will evaluate each asset and provide our clients with a thorough understanding of near- and long-term capital planning needs. More specifically, the FCA will identify the following items within the facility:

• Remaining useful life of all major building systems and components.
• System deficiencies.
• Prioritization of building repairs.
• Total building replacement cost.

When Concord began providing FCAs, we already were ahead of our competitors because of our in-house cost estimating group. With their support, we can provide realistic budgets to our clients based on our FCA findings.

But we knew we needed to do more, so Concord invested in the Facility Assessment Condition Toolset (FACTs), a dashboard resource unlike anything our competitors provide.

FACTs is a digitized, customizable, interactive tool that presents the assessment results in a manageable deliverable that includes asset locations, asset scores, descriptions, estimated replacement dates, and estimated replacement costs. Additionally, the tool provides the customer with links to all relevant asset documentation, such as maintenance manuals, drawings, and inspection reports.

All in all, this tool allows future updates to be performed in accordance with a working capital improvement plan — meaning your FCA can change in real time as your building conditions evolve.