by Brianna Crandall — January 22, 2020 — APPA, the organization for educational facilities professionals, has just announced the publication of APPA 1000-2 Total Cost of Ownership for Facilities Asset Management (TCO) — Part 2: Implementation and Data Elements, to help owners, facilities managers (FM) and related professionals effectively track and manage their facilities and asset costs.
The new standard lays out the steps and defines the key and supporting elements fundamental to the successful implementation of total cost of ownership (TCO).
The new APPA 1000-2 standard builds upon APPA 1000-1 Total Cost of Ownership for Facilities Asset Management (TCO) — Part 1: Key Principles, which establishes a common framework for owners of facilities assets to identify and more effectively track and manage costs of a facility, building or supporting infrastructure or assets over the full life cycle, utilizing Total Cost of Ownership principles. The common framework would forecast investment needs, and simplify data decision requirements by creating and utilizing a standard data set, for purposes of maintaining a financially sustainable future of all asset investments.
APPA currently is beta testing training modules that will better equip facilities professionals in the application of TCO to specific equipment or across a campus. The training modules are expected to be finalized in mid-2020.
Following the guidelines set forth by the American National Standards Institute, the APPA 1000- 2 standard was developed through a broad collaboration process that included industry comment periods and resolution; it received final approval by ANSI on January 3, 2020.
The new APPA 1000-2 Total Cost of Ownership for Facilities Asset Management (TCO) — Part 2: Implementation and Data Elements standard is available from the APPA Bookstore.
APPA, previously known as the Association of Physical Plant Administrators, promotes leadership in educational facilities for professionals seeking to build their careers, transform their institutions, and elevate the value and recognition of facilities in education. APPA is the association of choice for more than 18,000 educational facilities professionals from 1,300 educational institutions in North America and internationally.