IFMA Chesapeake Gold Sponsor Re-Form sponsored the April meeting at their facility in Breeze Point, and George Fisk shared interesting history about the area and their building.
FMs learned tools to help them decide whether to repair, replace or upgrade technology and physical assets. Gary Brinton suggested using the Asset Lifecycle Model, available on-line at IFMA resources. Did you know that the standard lifecycle of a building is 55 years?
How do you develop a total cost of ownership (TCO) model?
- Determine the length of time you will use or occupy the asset.
- Define all expense factors
- Build and test the model.
- Track expenses and update the model.
TCO – First costs + lifecycle operating costs
Lifecycle Operating Costs include:
Capital Asset Management
For more information, contact Gary Brinton at 800-828-1871