A new standard is in development that will help FMs and other building professionals accurately measure the total cost of ownership for facilities, led by ANSI International and APPA, the North American educational facilities organization. The proposed standard, APPA 1000: Total Cost of Ownership for Facilities Asset Management, will enable professionals to efficiently manage assets throughout the stages of a facility’s life, including project delivery, maintenance and operations, and recapitalization.
The proposed standard allows FMs to recognize the most advantageous time to perform maintenance and repair, provides guidance as to which assets are most economical, and offers insight as to which expenditures are useful and which are unnecessary for the building. Experts and stakeholders will develop the standard and potential participants are encourage to visit the APPA website to learn more.
