According to APPA, the organization for leadership in educational facilities, as many as ¾ of facilities at some institutions are 30 to 40 years old and already past a first cycle of major renewal expenditures.
Higher ed institutions are under intense pressure to maintain facilities with a shrinking budget and staff, identify new revenue streams, and improve capital management overall.
The planning that goes into replacing major components of your infrastructure isn’t something you can leave to the last minute. It typically takes years of preparation.
AkitaBox prescribes 3 steps to help ensure you have budget dollars already in place by the time your next round of major replacements comes due.
Keep reading: Capital Planning for Aging Higher Ed Facilities