Faithful+Gould successfully implemented the asset cost benchmarking of the custodial estate based on full alignment with the RICS New Rules of Measurement (NRM) 3 and BS 8544; 2013 Guide for life cycle costing of maintenance in use. The result of a series of client workshops and site cost analysis provided function unit cost data, as well as helping the Ministry of Justice set a public sector comparator.
Key benefits realised were:
- Standardised how costs benchmark will apply
- Compared and contrasted site and function types
- Identified potential opportunities to save opex costs
- Right skills to tasks
- Right time to tasks
- Function condition indexing – for all prisons
Using Function Condition Indexing (FCI) provided a powerful visualisation of how well each establishment is performing broken by functional unit types (e.g. inmate accommodation, staff areas, amenities). FCI works at each site and functions level, by showing what are in excellent condition (dark green); good condition (lighter green); fair condition (orange); poor condition (red); and where a trigger point (black condition) exists – this is when it is time to consider de-invest or refurbishment.
FCI is a key management tool which is an easy to understand method of profiling the health of an asset base – this has been adopted as the standard for the whole custodial estate. FCI is calculated by dividing the total costs of identified actions in period, by total replacement costs.