Organizations can save tens of millions of dollars on a higher-priced HVAC system when costs over a building’s life are examined, says David Van Hook of the Bartow County School District in Georgia.
What Happened
Lifecycle costing, a method of evaluating the total cost of ownership of a building component over its expected lifespan, is proving to be a valuable strategy for construction and facilities management. David Van Hook, a facility manager at the Bartow County School District in Georgia, emphasizes that while the initial investment in a higher-priced HVAC system may seem daunting, the long-term savings are substantial. By examining expenses over the lifecycle of a building, organizations can make more informed decisions that lead to significant cost reductions. This approach is gaining traction as more organizations look to optimize their expenditures amid economic pressures.
What This Means for Your Business
For businesses in the Architecture, Engineering, Construction, and Manufacturing (AECM) sectors, adopting lifecycle costing can lead to competitive advantages. By factoring in long-term maintenance, energy consumption, and operational costs, companies can offer clients more sustainable and cost-effective solutions. This methodology not only enhances value propositions but also aligns with increasing demands for sustainability and efficiency in construction projects. The potential for substantial savings also opens up new avenues for investment and innovation in building technologies, providing opportunities to lead in market segments focused on energy-efficient and sustainable construction.
What US Operators Should Watch
US operators in the construction and facility management sectors should monitor developments in lifecycle costing methodologies and tools. Staying updated on federal guidelines and incentives related to energy efficiency and sustainable construction practices will be crucial. As the industry shifts towards more sustainable practices, understanding these frameworks can help businesses align their strategies with policy directions and secure funding opportunities. Additionally, tracking advancements in HVAC technologies and other building components can provide insights into future cost-saving measures.
Source: https://www.facilitiesdive.com/news/slog-of-lifecycle-costing-is-worth-the-construction-savings-facility-man/825611/. Read the original story ->
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