Cushman & Wakefield Services enable 20 year project decisions for ITE College West through living data sets
Highlights
ISO55001 Accreditation in Asset management — Management systems
60% drop-in service requests due to better maintenance
Real-time data enables accurate planning and budgeting
Shift from human-centric to systems-centric approach
90% reduction in reporting time
Background: Cushman & Wakefield/ITE College West
Cushman & Wakefield (C&W) is a global real estate services firm whose portfolio includes Singapore’s ITE College West. Built using a 25-year Public Private Partnership (PPP) with the Singapore government, ITE College West caters for 9,000 full-time students, 3,600 part-time students and 680 staff across a 9.54-hectare campus.
The challenge: accurate insights to justify spend
Securing adequate funding and managing all partners in a large consortium is a challenging task. It’s even more critical when government is involved, as any spending of public funds must be meticulously recorded and justified. C&W Services and site managers for ITE College West, wanted to manage the campus as efficiently as possible, providing transparency to all stakeholders. To do this, it needed data.
“Data is the lifeblood of effective asset management. To manage the campus strategically and ensure the maximum return on investment, we needed a platform that could store, manage and analyse information about the property. When selecting AssetFuture, its ability for us to have a common platform for inspection standards and data collection was critical, as well as the ability to benchmark analysis of buildings.”
The solution: better maintenance, extended asset lifecycle
Creating a Common Language
The AssetFuture Platform has given C&W Services a standardised methodology for asset condition assessments. This has enabled the data to be standardised, and a clear understanding of all stakeholders. Previously condition surveys were carried out by external suppliers with a subjective view of asset conditions. The assessments are now carried out internally using the AssetFuture mobile application: an intuitive and easy to use tool that has enabled the team to reduce training time for assessments.
Accuracy in Live Data
Using AssetFuture’s technology is a shift from static information to responsive, accurate data to base decisions on. By having a live, digital replica available to all parties managing the project, AssetFuture’s technology allows ITE College West to make intelligent, informed, confident decisions about capital upgrades and maintenance for the life of the partnership.
AssetFuture has additionally given C&W Services much better visibility over the near future. Data is updated regularly (annually) and is accurate and relevant, enabling lifecycle reporting and preventative maintenance. Real-time data enables lifecycle reporting and preventative maintenance, with insight for the next 3-5 years (and beyond).
For the client, they can see that their building is well-maintained, and it’s good to have the insight for the next few years.
“ITE College West has over 50,000 assets which are captured on a condition survey on a yearly basis, using AssetFuture. Based on that data, some items can be scheduled for lifecycle replacement or maintenance the following year. The facility is maintained really well and optimised.”
The results: longer lifecycles, lower maintenance costs
1. ISO55001 Accreditation
Optimising these systems and utilising best practise in Asset Management has allowed C&W Services to achieve ISO55001 accreditation in Asset management — Management systems. This achievement has demonstrated Asset Management maturity for ITE College West and the ability to manage the lifecycle of assets more effectively.
2. Moving from reactive to proactive
From an organisational point of view, C&W Services have observed that they’ve moved away from human-centric site management to a very system-centric approach to site management. Business cases are much easier to justify.
One of the most stunning outcomes is a huge drop in service requests over the last six years. These have dropped 60% - reflecting that if an asset is well-maintained, it will need less servicing. As a result, assets have a much longer lifecycles. C&W Services gives the example of an eleven-year-old chiller, which would normally be expected to perform worse off compared to when the campus first opened in 2010. Instead, despite its age, the chiller is now 20% more efficient.
3. People productivity
AssetFuture has also saved significant time in reporting. The annual lifecycle reporting needed for the project used to take three months to collate. Now it takes just one week, freeing up people to make broader strategic decisions about capital works projects. This is a 90% reduction in reporting time.
C&W Services also uses AssetFuture to demonstrate the impact of doing or not doing capital works on the campus. Resources have been freed up so team members can engage in broader strategic thinking, rather than mundane data gathering.
The Future
The AssetFuture Platform has empowered C&W Services to evolve its focus. Over the past six years of using AssetFuture, C&W Services has moved through several phases. In the initial 2015-2018 phase the main concern was about building fabric and materials. More recently the focus has shifted to the mechanical and electrical equipment.
AssetFuture has been key in delivering the visibility that C&W Services needs to successfully manage the university campus as well as communicate with stakeholders. The client is able to see that the assets are well maintained. Decision-making is much easier and more accurate, with confident, informed decisions based on data-driven strategic plans.
“Our experience with AssetFuture demonstrates that timely data and a disciplined approach to maintenance, with a more competent workforce, are the three main success drives for asset management.”