Capital Projects / Condition Assessment / Assessment Manager
Sustainability & Risk / Sustainability Assessment / Assessment Manager

Estimating Costs of Addressing Deficiencies

After assessors return from the field, cost estimators or assessment managers will review the assessment items and enter financial data concerning the cost of fixing the deficiency.

Once financial information is entered, you can run the Condition Assessment Scoreboard or Sustainability Assessment Scoreboard to get an overview of your facility, complete with estimated costs for repair. You can also run the application’s financial analysis reports that deal with estimated costs, and prepare how to resolve these items.

Cost Estimating and Classifications

Cost estimating is complicated and involves a lot of analysis. If you have organized your condition assessment items by classifications based on industry standards -- such as the Construction Specifications Institute standards -- you can use these standards when estimating the costs of the job.

For example, for a simple job such as moving a wall, you must estimate the costs of:

• new electrical components
• new plumbing components
• new mechanical (HVAC) components
• construction materials (wall board, studs, fasteners, adhesives, wall coverings such as paint)
• time and labor costs for electricians
• time and labor costs for plumbers
• time and labor costs for HVAC technicians
• time and labor costs for carpenters
• time and labor costs for painters

If classifications are assigned to your areas and rooms, you can consult the CSI standards as a guide as to the various components a job such as this requires and the costs of each component.

Procedure

1. Open the Manage Assessment Items task, and select the assessment project for whose assessment items you wish to estimate costs.
2. Select the Show button to see all assessment items for this project.

• The system shows all assessment items for this project as can fit in the display.
• If necessary, use the filter console to limit the list of assessment items. For example, you may wish to see items only for a particular floor or those of a particular classification.
• If you wish to restrict your items by a criteria not offered in the filter console, you can use the Smart Search button (located to the left of the top item) and enter the value in the field by which you want to restrict. For example, you can search for items whose Recommended Action is Repair, or whose Conditions Value is Poor

3. Locate the assessment item for which you want to complete cost information and choose the Edit button.
4. Complete these fields:

• Cost Estimated (Expense) -- Estimated cost to remedy this item as an expense. This normally applies to items with a useful life of under one year, as otherwise you would want to treat the item as a capital cost.
• Cost Estimated (Capital) -- Estimated cost to remedy this item as a capital expenditure. This is the amount spent during a particular period to acquire or improve long-term assets such as properties, plants, and equipment.
• Cost to Replace -- Cost to replace the item in question. Can apply to a component of a room or equipment item. For example, if you have a carpet that has a bad stain in one spot you can replace the whole carpet or just replace the stained part.

5. You can now examine the reports with cost estimates, such as:

• Assessment Project Statistics by Location
• Assessment by Project
• Budgets and Ratings by Classification Levels
• Assessments with Condition/Sustainability Ratings Greater than 25
• Open Safety Issues

6. With the analysis from these reports, you can begin to budget and plan how you will address your deficiencies. For information, see Addressing Assessment Deficiencies.