White Papers & Presentations Click title to Download
While the implementation of BIM has been a major industry focus of recent years, our vision must shift to look at the broader vision of Asset Management, Virtual Design, Construction, and Operations (VDCO) and high-level metrics. We shall bring all the strategies, tools, and technologies together to profoundly reduce waste, significantly improve productivity, reduce total cost of ownership, and create a sustainable environment for continuous future improvement, all of which will make the needed changes attractive to investors to accomplish rapidly. This white paper is intended to identify what actions are imperative in moving the facilities and infrastructure industries forward in this country and around the world. It is to these ends that we must dedicate all future effort.
By Ana Thiemer and Dana K. Smith | Spring 2022
What happens when we merge our facility’s data, internal expertise, and knowledge with industry standards and best practices? The effect is informed decision-making at the highest level. Every entity strives to reduce risk and make the most informed asset and facility decisions. With a TCO strategy, decisions become more dependable, and risk is mitigated on a higher level.
TCO is highly scalable and can be implemented on anything from a small single sub-facility project, such as a roof, a residence, or a community association, to a multi-locational, complex portfolio like a hospital or university. This paper outlines how a data-rich organization can ultimately implement TCO to benefit its organization and society significantly. TCO is intended for use throughout the life cycle of an asset, to estimate before design and construction, and to capture costs during operations until the end of life of the asset.