The building condition score reveals the value of the costs of repairing your facility assets, including the building, compared to the total replacement costs. In other words, the measure indicates the current level of repairs necessary in your facility and how they stack up against replacing assets. Depending on the severity of needed repairs and the length of the maintenance backlog, the building condition score helps with capital planning and making maintenance decisions. The beginning process for determining the building condition score lies in a comprehensive facility condition assessment. However, inexperienced facilities managers may be unaware of how to conduct a condition assessment. Instead of guessing, Facilities Managers should follow these steps.
Determine the Functions of Your Building, Its Assets, and Replacement Costs
The first step is simple; recognize the functions of your buildings and its assets. Create a list of the assets within your facility and their current value, considering depreciation. During this step, Facilities Managers should also collect data on asset features and details, including serial numbers, age, time since the last repair, planned repairs and original cost—key considerations in conducting the condition audit, notes Facility Executive. Also, determine the current market rate to replace all assets, including labor costs for removal, disposal or installation.
Analyze Data for Trends, Including Expected Maintenance in Short-Term and Long-Term Outlook
The next phase is based on analytics. Leveraging analytics, determine how much maintenance will likely be needed to bring current assets into optimal performance. This includes handling all needs in the maintenance backlog, key assets with a history of higher-than-expected maintenance needs and maintenance problems that may lead to higher costs over time.
Calculate the Building Condition Score
The building condition score formula is simple. Add the cost to repair each item together. Determine the costs to replace all assets within your building. Divide the costs of repairs by the total costs to replace, as shown in this formula:
Building Condition Score = [Sum of Repairs] / [Sum of Total Replacement]
The result can be rated per your organization’s business goals and needs.
- Scores of less than 0.05 are suitable.
- A score between 0.05 and 0.10 is fair.
- Scores over 0.10 are bad.
As organizations implement proactive facilities management strategies, including proactive maintenance, the overall building condition score will decrease. However, it is common for the score to increase slightly as maintenance needs become evident during the audit to locate hidden issues.
Put the Right Technology and Processes in Place to Determine Your Building Condition Score
Determining your building condition score is an excellent way to assess the value of your current maintenance needs against the costs to entirely replace such assets. Although initial scores may increase, following the deployment of advanced, automatic fault detection and diagnostics capabilities, it is essential to consider the building condition score afterward. As a result, the score will stabilize following the implementation of an energy management system (EMS) to handle asset and energy management. Find out what you need to do to get started by visiting ENTOUCH online or calling 1-800-820-3511 today.