Building lifecycle is defined in 5 stages
Stage 1 (0 – 2 years)
Stage 2 (2 – 16 years)
Stage 3 (17 – 29 years)
Stage 4 (30 – 49 years)
Stage 5 (50+ years)
Every building is unique and the need for equipment maintenance, repair and asset renewals varies depending on various factors like the building age, exposure conditions, maintenance record, design elements etc. Asset renewal expenditure has major financial implication on operations budget as the building ages.
Stage 1 (0 - 2 years) consists of inspections and warranty repairs. Owners assume full responsibility for all the maintenance, repairs and long-range renewal planning for the building establishing a preventive maintenance program in Stage 2 (2 - 16 years).
During stage 3 (17 - 29 years), owners consider replacement of building assets that have deteriorated and a noticeable increase in the number of capital renewal projects is observed.
Stage 4 (30 - 49 years) has the largest and most expensive of all asset renewal projects. Some of the assets are replaced over the preceding 30-40 years and now operating a building with assets at a variety of different ages. There is no longer a single baseline and the facility managers are tasked with tracking the different assets.
By stage 5 (50+ years), all major assets would have gone through one renewal cycle and this stage essentially is a typical lifecycle Stage 2.
During the lifecycle of a building, it goes through many changes with tenants moving in and out with changing work fit outs depending on tenant’s preferences and nature of business. Globalisation is impacting businesses with competition from every corner, and tenants are becoming more demanding. To attract and retain the best employees, businesses require innovative responses to workplace demands, such as seating and work practice flexibility, improved air quality, enhanced corporate image, and energy efficiency. Building owners are under pressure to meet the needs of their tenants.
Organisations across all industries with a portfolio of buildings constantly endeavour to improve their key performance indicators related to costs, reliability, customer service, security, safety and regulatory compliance. In order to achieve the above, these organisations are continually in search of effective ways to streamline and automate their underlying workplace business processes.
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