Asset Reinvestment is KBE’s answer to one of the most pressing – and least glamorous – issues facing facility managers for higher education, corporate, and health care campuses: deferred maintenance.
- Connecticut College
- Hood College
- University of Bridgeport
- White Paper: Implementing and Managing an Asset Reinvestment Program
It’s a simple fact that all facility managers know: deferred maintenance projects are often difficult to obtain funding for, as they are less prominent, and therefore, less likely to attract major institutional donors or corporate funding. But their importance is paramount because they often involve critical infrastructure that affects the health, safety, and comfort of the campus occupants. A well-maintained campus setting is often a key recruitment tool for many institutions and businesses.
KBE’s Asset Reinvestment program helps aggregate these projects and present them in a way that makes them more compelling for funding consideration. Easily customized, KBE’s Asset Reinvestment program can be structured to accommodate as few as 10 projects or as many as several thousand. The list of projects is typically developed with an experienced facilities assessment consultant and KBE’s Preconstruction team, bringing in our expertise in cost estimating, constructability reviews, value management, and scheduling.
Projects are typically prioritized by:
- severity of need;
- “visibility” of the work;
- impact on long-term operating costs; and
- the impact on the continued safe and efficient use of the facilities.
Once the projects have been defined, KBE works with the entire team to segment the work into manageable groups of projects, prioritized by need, construction efficiencies, and schedule requirements. The projects are then implemented over a series of months or years, based on the extent of work.
The $53 million, multi-year Asset Reinvestment program at Connecticut College in New London, CT is a prime example. Since 2005, KBE has spent the fall/winter terms in an intensive preconstruction planning phase that carefully orchestrates every aspect of the upcoming project. The owner, design team, trade contractors, and vendors are engaged throughout this planning phase. With the project plan fully identified and vetted, the project team hits the ground running at the start of each summer term, and executes an extensive scope of work over the 12-week summer session – with minimal impact on the campus community.
…the stabilization and restoration of roughly 100 buildings and 700 acres of physical assets. The ‘get-it-done’ attitude and willingness to embrace planning, design and construction techniques that are in concert with Connecticut College’s values has been very impressive.