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

Fulvio Re Cecconi,Nicola Moretti,Mario Claudio Dejaco

doi:10.3846/ijspm.2019.7955

Fulvio Re Cecconi, Nicola Moretti + Show 1 more

Open Access

https://doi.org/10.3846/ijspm.2019.7955

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Abstract

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.

Highlights

Performance measurement in asset management, since the last few decades, has gained momentum as a powerful means for decision making (Alexander, 1992)
The extended version of the Facility Condition Index (FCI) described above is just one of the many that can be found in literature
The critical review presented in this paper identifies the main characteristics of the FCI, through a study based on a methodological approach organised in three subsequent phases:

Summary

Introduction

Performance measurement in asset management, since the last few decades, has gained momentum as a powerful means for decision making (Alexander, 1992). The use of Key Performance Indicators (KPIs) eases decision making, allowing to synthesise phenomena related to the built environment, without losing the systemic value of information (Ladiana, 2007). According to the level of aggregation, information acquires different meanings corresponding to the management needs. In Facility Management (FM), for instance, three decision making levels corresponding to specific sets of KPIs can be identified: strategic, tactical and operational (Ente Italiano di Unificazione, 2018; Maltese, Dejaco, & Re Cecconi, 2017)

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