Investments in Federal Facilities: Asset Management by National Research Council, Division on Engineering and PDF

By National Research Council, Division on Engineering and Physical Sciences, Board on Infrastructure and the Constructed Environment, Committee on Business Strategies for Public Capital Investment

Amenities now owned through the government are worth over $300 billion. It additionally spends over $25 billion in line with 12 months for acquisition, upkeep, and maintenance. regardless of the dimensions of those sums, there's a starting to be litany of issues of federal amenities that keeps to place a drain at the federal funds and compromise the effectiveness of federal companies. to envision how you can deal with those difficulties, the sponsoring businesses of the Federal amenities Council (FFC) requested the nationwide study Council (NRC) to increase directions for making enhanced judgements approximately funding in and renewal, upkeep, and alternative of federal amenities. This document offers the results of that evaluation. It provides a overview of either private and non-private practices used to help such determination making, and identifies applicable pursuits, practices, and function measures. The document offers a sequence of ideas designed to help federal organisations and departments enhance administration of and funding selection making for his or her amenities.

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The committee believes that federal departments and agencies should base the “own” versus “lease” decision on a clearly stated rationale linked to support of the organizational mission, the level of control desired, and the planning horizon for the function to be supported. RECOMMENDATION 8. Each federal department and agency should use performance measures in conjunction with both periodic and continuous long-term feedback and evaluation of investment decisions to monitor and control investments, measure the outcomes of facilities investment decisions, improve decision-making processes, and enhance organizational accountability.

Budgets for both types of expenditures are linked by an overall management plan. Private-sector organizations make decisions about capital expenditures separately from decisions about operating expenditures. Capital spending decisions are made based primarily on how they affect shareholders and are evaluated predominately in monetary terms (PCSCB, 1999). In capital decision making and budgeting, there is no such thing as a risk-free project, because future cash flows may decline at any time owing to inflation, loss of market share, increased costs for raw materials, labor, or other resources, new environmental regulations, or higher interest rates, among other factors.

Instead, decision-making authority and decision-making responsibility are spread throughout the executive and legislative branches, leading to lack of clear-cut accountability for facilities investment outcomes. A diagram that illustrates the many interfaces and decision points among the various federal decision-making and operating groups involved in facilities investment decision making can serve as a first step toward increasing the transparency of the process and enhancing accountability. Implementation of a facilities asset management approach, the use of performance measures and feedback processes, and the consistent use of business case analyses will further enhance organizational accountability for federal facilities investments.

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