by Brianna Crandall — November 13, 2015—APPA, the educational facilities association with more than 15,000 professionals from 1,300 educational institutions throughout North America, recently announced its plans to create an accredited American National Standard that addresses facilities asset decision-making, enabling owners of buildings and facilities assets to accurately project financial expenditures throughout the “cradle to grave” building life cycle.
The proposed APPA 1000: Total Cost of Ownership (TCO) for Facilities Asset Management will establish a common framework for owners and managers of facilities assets to identify and more effectively track and manage costs of a facility, building, or supporting infrastructure or assets over the full life cycle, by using TCO principles.
The framework would forecast investment needs and simplify data decision requirements by creating and using a standard data set for purposes of maintaining a financially sustainable future for all asset investments. It is expected that the standard will be developed for application to all types of facilities assets.
Areas of application for this standard include:
- Project delivery (planning, design, construction, and commissioning)
- Maintenance and operations
- Recapitalization
Potential stakeholders in the development of the standard include owners of buildings, facilities, infrastructure, general site, and property, as well as those within the following asset management disciplines: architecture, building design and planning, construction, building / facilities management, operations and maintenance, energy management, users of assets, and capital needs planners.
