This is a critical time in your institution’s history. The decisions you make during this crisis will have ripple effects for years to come. But it’s hard to know which choices about your space, capital and operations are the right ones for your campus. As your strategic partners, we’ll be right by your side, using our decades of higher ed experience to help you move forward with confidence.
Facilities represent the largest asset on most campuses. They also represent one of the largest expenses. By accurately quantifying the magnitude of this expense for the next 10+ years and performing what-if scenarios around anticipated changes to business activities, you can more accurately model the financial viability of your institution.
When existential risks emerge, small cuts across the board might close a short-term budget gap. But those same measures can compromise your institution’s ability to execute its missions or provide adequate value to its students. Understanding where you can divest without compromising missing-critical services or functions requires examining what your facilities need to stay open and what your programs need to stay relevant.
As you are forced to make challenging decisions around space, it’s critical to understand the true cost of a space, it’s actual utilization and it’s programmatic and financial contributions to establish a framework for the divestment of underperforming assets.
Treating all buildings as equal will force you to stretch your resources and compromise your institution’s mission and vision. Additionally, using subjective, reactionary measures to determine who gets what often leads to allocating investments ineffectively. Placing buildings into portfolios reveals each facility’s value to institutional mission, recruitment, and retention, ensuring investments are going to the right places.
The economic effects of the pandemic have put tremendous pressure on facilities budgets, particularly at smaller institutions. Reductions are inevitable, if not imminent. The campuses that align today’s budget sacrifices with a long-term strategy will be best positioned for future success. We can help you balance your institutional mission and your financial realities through a focused, strategic assessment of critical facilities and dynamic, cloud-based access to your data to help with immediate and long-term action planning.
