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Stewardship Priniciples
The goal of Capital Trajectory is not to protect the methodology from scrutiny. The goal is to expose it to experts, practitioners, researchers, and emerging analytical tools alike so that the best understanding of facility stewardship may emerge and endure.
Share back if you find anything disagreeable or to make this initiative more effective. Your move: kfolsom@facilityportfolios.com
"Facilities don't fulfill the mission. They make the mission possible."
"Facilities don't fulfill the mission. They make the mission possible."
Facilities are part of the cost of delivering the mission. When enrollment, tuition, and other revenue sources fail to cover the long-term cost of facilities, the mission itself becomes more difficult to sustain.
Chess
Every move creates future consequences.
You cannot escape the position on the board.
Ignoring threats doesn't remove them.
Strong positions develop over many moves.
The objective is long-term advantage.
Analysis improves decisions.
Capital Trajectory
Every funding decision creates future consequences.
You cannot escape the current facility condition.
Ignoring deferred maintenance doesn't remove it.
Strong portfolios develop over many years.
The objective is long-term stewardship.
Data improves decisions.
The value of Capital Trajectory is not found in its formulas, but in the stewardship decisions those formulas inform.
"Facilities will decide how much is cost to maintain and preserve them. Owners decide...
"Facilities will decide how much is cost to maintain and preserve them. Owners decide...
...when they pay,
...how much risk they accept,
...how disruptive the payment becomes,
...and whether the expenditure creates value of merely restores lost value.
"Stewardship is measurable."
"Stewardship is measurable."
Every asset consumes resources, provides value, and creates obligations. Better decisions begin by understanding and measuring all three.
Good stewardship begins when opinions give way to evidence.
Facilities are very predictable, and so are the cost.
"Capital planning is the art of making future problems smaller."
"Capital planning is the art of making future problems smaller."
Every facility decision has a future consequence.
The future condition of a campus is determined by today's capital decisions.
"Asset stewardship means paying for consumption, not passing it forward."
"Asset stewardship means paying for consumption, not passing it forward."
Every building comes with a lifetime payment plan. Sustainable institutions align annual funding with annual asset consumption.
Don't transfer today's facility costs and risks to future students.
"It's not only about the funds, getting behind on renewal becomes too disruptive."
"It's not only about the funds, getting behind on renewal becomes too disruptive."
Once deferred maintenance reaches a certain level, the operational disruption can become more damaging than the funding shortfall itself.
"Each generation should leave assets no worse than it found them."
"Each generation should leave assets no worse than it found them."
Unfunded renewal and replacement costs eventually become obligations for future students, taxpayers, donors, or stakeholders.
Every building comes with a lifetime payment plan. Sustainable institutions align annual funding with annual asset consumption.
"Building codes are lessons learned, written down."
"Building codes are lessons learned, written down."
The most cost-effective time to comply with future code requirements is during planned renewal projects, not after a failure occurs.
These are not something to find ways to avoid compliance.
"Facilities without a renewal strategy is spending the endowment principal."
"Facilities without a renewal strategy is spending the endowment principal."
Buildings consume capital over time. Sustainable stewardship replenishes that capital before it becomes a crisis.
The replacement value and planned renewal cost must be managed as an endowment.
The cost of faclities is a fixed cost.
Facilities do not care if you are low on funds, it will get its fair share.
Facilities renewal cycles follow natural laws.
Economic principles must align to natural laws.
Enrollment, tuition, and additional revenue must be aligned to support it.
Buildings consume capital over time.
Endowments replenish capital over time.
Sustainable stewardship connects the two.
"Capital Trajectory helps to purchase predictbility"
"Capital Trajectory helps to purchase predictbility"
Better learning environments.
More predictable budgets.
Lower lifecycle costs.
Reduced emergency failures.
More stable contractor workloads.
Better workforce planning.
More efficient capital deployment.
"Good stewardship begins when opinions give way to evidence"
"Good stewardship begins when opinions give way to evidence"
"Facilities follow natural laws. Budgets must adapt accordingly"
"Facilities follow natural laws. Budgets must adapt accordingly"
"Capital planning is the art of making future problems smaller."
"Capital planning is the art of making future problems smaller."
"Every facility decision has a future consequence."
"Every facility decision has a future consequence."
"The furutre of condition of a campus is determined by today's capital decisions."
"The furutre of condition of a campus is determined by today's capital decisions."
"A donated building is only free on the opening day."
"A donated building is only free on the opening day."
"The construction cost ends at occupancy. The stewardship begins."
"The construction cost ends at occupancy. The stewardship begins."
"Facilities age every day. Renewal funding should arrive every year."
"Facilities age every day. Renewal funding should arrive every year."
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