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Mitigating risks related to facilities management.

Daniel P O'Neill¹, Sydney Scarborough

¹Healthcare Solutions Unit, Jones Lan LaSalle, Chicago, IL, USA. Daniel.ONeill@am.jll.com

Healthcare Financial Management : Journal of the Healthcare Financial Management Association

|July 24, 2013

Summary

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Facilities management teams can use the FACTS (functionality, age, capital investment, transparency, and sustainability) analysis to build business cases for facility upgrades. This approach ensures capital investments yield higher returns and avoids costly long-term spending issues.

Area of Science:

Facilities Management
Organizational Performance
Investment Analysis

Background:

Organizations require robust facility management strategies to maintain operational efficiency.
Evaluating facilities based on multiple criteria is crucial for strategic decision-making.
Inconsistent capital spending can lead to suboptimal resource allocation and increased long-term costs.

Purpose of the Study:

To introduce a framework for evaluating organizational facilities.
To demonstrate how a structured analysis can justify facility upgrades.
To highlight the financial benefits of strategic facility investment.

Main Methods:

Utilizing metrics for functionality, age, capital investment, transparency, and sustainability (FACTS).

Related Experiment Videos

Conducting a FACTS analysis to assess current facility conditions and future needs.

Developing business cases based on the FACTS analysis to support upgrade justifications.

Main Results:

FACTS analysis provides a quantifiable basis for facility upgrade decisions.
Strategic capital investment in facilities ensures a higher Return on Investment (ROI) compared to alternatives.
A consistent spending management process mitigates unexpected cost escalations.

Conclusions:

The FACTS framework enables facilities management teams to build compelling business cases for upgrades.
Implementing a FACTS analysis optimizes capital allocation for facilities.
Proactive facility management through FACTS analysis leads to improved organizational financial health and operational sustainability.