Taking the Fear Out of Capital Planning

Summary:
On this episode of FM Evolution, host Shawn Black was joined by Randy Olson and Robert Blakey. Robert is the Director of FM College Inc., and with countless years in the facility management industry and numerous letters behind his name, Robert continues to provide pioneering work in the application of economic decision analysis for facility master-planning. Throughout the episode, Shawn, Randy, and Robert discussed taking the fear out of capital planning, why capital planning is such an important skill set, and why Robert started FM College.

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Show Notes

Shownotes:

(1:56) Introduction to Randy and Robert

(4:26) Starting FM College

(6:48) Current Favorite Book

(12:44) Definition of Capital Planning

(18:39) Why Capital Planning Should Be a Skill Set

(23:39) How Does a Capital Plan Work

(25:06) Facility Condition Index

(27:24) Learning Best Practices for Capital Planning

(31:20) Pandemic’s Effect on Capital Planning

(35:56) Final Thoughts

 

Links:

Shawn Black

Randy Olson

Robert Blakey

FM College Inc.

 

Quotes:

“...it’s not something that you necessarily gain from experimental knowledge, you need to go out and actually look at the processes and talk with people to gain the knowledge.” - Robert Blakey, (13:30)

 

“Typically, as far as operations and maintenance, we’re talking about expenses and operating costs and things that happen throughout the year in just an operational framework, but in order to properly maintain our facilities and to add to them and make them of strategic values, we have to invest in them over a period of time.” - Robert Blakey, (18:43) 

 

“Content’s great…there’s really great content around capital planning, but to really bring that to life, I firmly believe in the instructor-led course approach…Instructors can not only teach you the content, but provide practical examples of how to put this in motion” - Randy Olson, (27:56) 

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