MEASURING THE PERFORMANCE OF ASSETS: A REVIEW OF THE FACILITY CONDITION INDEX

Measurement of performances in asset management is an enabling factor to define an effective strategy. The scope of this research concerns the investigation on the Facility Condition Index (FCI): one of the most common metrics related to the built environment. The research aims at providing a critic...

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Bibliographic Details
Published inInternational Journal of Strategic Property Management Vol. 23; no. 3; pp. 187 - 196
Main Authors Cecconi, Fulvio Re, Moretti, Nicola, Dejaco, Mario Claudio
Format Journal Article Book Review
LanguageEnglish
Published Vilnius Vilnius Gediminas Technical University 01.05.2019
Subjects
Analysis
Asset management
Bibliometrics
Business metrics
Construction industry
Facilities management
Facility Condition Index
facility management
FCI
Index numbers (Economics)
KPI
Measurement
performance measurement
Specific performance
United States
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Summary:Measurement of performances in asset management is an enabling factor to define an effective strategy. The scope of this research concerns the investigation on the Facility Condition Index (FCI): one of the most common metrics related to the built environment. The research aims at providing a critical review concerning the FCI and its use. The research methodology has been developed according to three steps: bibliographic research, bibliometric analysis and critical review. Most of the sources agree that FCI provides a reliable economic measurement of maintenance needs, though it must be tied to a strong condition assessment methodology. Moreover, different methodologies for computation of the deferred maintenance and the current replacement value can be found in literature and many researchers emphasised the limits of FCI when dealing with components characterised by a considerable difference in replacement costs. In conclusion, FCI is included in the wider framework of asset management business process.
ISSN:1648-715X
1648-9179
DOI:10.3846/ijspm.2019.7955