Dynamic Facility Condition Index calculation for asset management

Aim of this research is to investigate the possibility of dynamically computing the Facility Condition Index (FCI) using a database of maintenance operations and costs of fabric and services components. This would lead to an instrument able to support decision making during asset and portfolio management because FCI is widely considered a good indicator for monitoring assets and portfolios conditions; so being able to efficiently calculate and update it is fundamental for a proper asset management. There are many ways to benchmark assets condition, but most of them are qualitative and lead to ratings in percentage, that need to be further elaborated to be connected to annual OM&R costs. The FCI can be considered an economic rating, based on money paid for maintenance, repair and replacement performed over the current asset value. The objective is to make an appraisal of the maintenance costs in a dynamic way, so to be able to examine multiple scenarios and make forecasts; the facility value comes from market appraisals with some coefficient applied, if need be. This calculation procedure, together with a maintenance operations and costs database developed by the authors (either forecasted or real costs), can be used by asset managers to support decisions about maintenance and repair actions to be undertaken. This paper shows preliminary results of this research, with the help of a case study. Further correlations should be investigated, even if this calculation procedure leads to an effective management. The calculation procedure and the database organization are an original work of the authors, as well as the case study used to show the results. In addition to this, connections among the indicators provided and BIM (Building Information Modelling) models are analyzed.