The Federal Government owns or leases property, plant, and equipment assets valued at $1.1 trillion along with a deferred maintenance and repairs backlog of over $166 billion. Federal agencies must actively manage this extensive real property portfolio to continue effectively supporting federal missions.Today’s strategic infrastructure investments at federal facilities are primarily based on subjective prioritization that consistently leads to sub-optimal investment decisions, reduced quality of building services, shortened building lifetimes, and premature facility deterioration. This research introduces a new approach for the management of federal facility portfolios that contain a significant backlog of deferred maintenance and repairs. With limited annual funding to invest in infrastructure, considerations for where investments should be applied must be optimized. Existing critical challenges in infrastructure maintenance, as well as the goal to support federal scientific missions, drive the need to improve government funding decisions toward optimized maintenance and the operation of an aging federal infrastructure. Optimization of the Comprehensive Facility Condition Index is demonstrated to significantly improve the total asset portfolio value, as compared to qualitative methods, by determining the most effective investment allocations at each facility. The collection of facility and condition assessment information is leveraged to prioritize and subsequently reduce the portfolio metric based on funding constraints. The proposed model effectively and efficiently reduces the asset portfolio values and enhances the process of subjectively identifying investments when all facilities and repair needs are considered. This research establishes a benchmark for federal facilities to measure portfolio performances and improve the methods for applying internal strategic investments.
|Commitee:||Etemadi, Amir, Adetunji, Oluwatomi, Kamp, John|
|School:||The George Washington University|
|School Location:||United States -- District of Columbia|
|Source:||DAI-A 82/2(E), Dissertation Abstracts International|
|Subjects:||Operations research, Management, Public administration|
|Keywords:||Asset Management, Facilities Prioritization, Infrastructure Investments, Maintenance Prioritization, Multi-Attribute Value Model, Portfolio Optimization|
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