Actual Age
This is the current age of the Asset/System.
Asset
An Asset is a free-standing structure, a portion of a structure, or any part of a facility infrastructure that is distinguishable from its surroundings by date of construction, construction type, and/or the Systems that compromise it.
Facility Condition Index (FCI)
The FCI is the amount of annual renewal needs including deferred maintenance divided by the Current Replacement Value (CRV).
The definition of the FCI at a facility level is:
Deferred Maintenance
Refers to the accumulated value of normally required maintenance investments that have been deferred from prior years and are due.
Current Replacement Cost
Is an estimate of the cost to replace an existing Asset comprised of like systems, with the same functional utility.
Renewal
Renewal refers to work done to extend an Asset’s/System’s useful life or improve its functionality. Renewal of an Asset can prolong the period of usefulness or enhance service potential. Service potential may be enhanced when there is an increase in the previously assessed physical output or service capacity, resulting in lowered associated operating costs, extended useful life of the Asset, and improvement of output quality. It includes upgrades that increase the service potential of an Asset (and may or may not increase the remaining useful life of the Asset). This type of expense should be reported as a capital expense.
Requirement
A Requirement is a facility need or a deficient condition that should be addressed, including deferred maintenance, code issues, functional Requirements, and capital improvements. A Requirement can affect an assembly, piece of equipment, or any other System. It is assigned a Category, Priority, and System for costs to be catalogued appropriately and a time frame for action assigned.
Service Life/Useful Life/Repeat Interval
Service Life/Useful life is defined as the estimated finite period over which a capital Asset is expected to be used. The actual life of a capital Asset may extend beyond its useful life due to good maintenance or under-utilization.
System
A system is an assembly, finish, fixture, piece of equipment, or other component that makes up an Asset.
Uniformat Code
Uniformat Code is a standard for classifying building specifications, cost estimating, and cost analysis. The elements are major components common to most buildings. The system can be used to provide consistency in the economic evaluation of building projects. The Application incorporates ASTM Uniformat II Classification, which provides a common structure linking the building program, specifications, and estimates. A table with a sample extract can be found on page 12 of this Training Manual.
