The 5 Limits of Spreadsheets for Facilities Capital Planning
Many facilities managers find spreadsheets useful for storing, organizing and reporting data. However, when it comes to effective capital planning for large portfolios, spreadsheets lack key capabilities, including built-in cost estimation based on industry norms, objective project prioritization, centralized data storage and the ability to scale. While spreadsheets are easy to use, they also have significant limitations for professional facilities managers.
Most facilities managers use multiple data sources located in a variety of spreadsheets on different computers with various owners. The types of data that may exist in isolated silos include:
- Facility condition details: Field reports, service requests and assessments
- Space metrics: CAD drawings and occupancy data
- Operational information: Work orders, maintenance records and utility invoices
- Lease information: Types and terms/costs
- Trends and forecasts: Demographics, funding scenarios, strategic plans and revenue projections
Spreadsheets can only do so much. For truly effective and strategic capital planning, facilities managers should leverage today’s cloud-based solutions to drive efficiency, improve productivity and optimize capital management. Migrating from spreadsheet dependence to a robust facilities capital planning and management solution can better support the dynamic nature of facilities and enable better, more strategic decisions.
