Strategies to Renew Federal Facilities (2023) / Chapter Skim
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Pages 74-80
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From page 74... ...
This risk management includes real property resource-and-investment decision making. The OMB Circular A-11 Supplement -- Capital Programming Guide goes on to establish requirements for agency facility renewal strategies to cover whole real property portfolios across whole facility asset life cycles in support of the agency's full set of mission objectives.
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From page 75... ...
VALUE, BENEFITS, AND RISKS Federal facilities and the activities they support have value and generate benefits for the American people. In the context of federal facility renewal strategies, value is measured in terms of the contributions that federal facilities make in helping an agency achieve its mission.
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From page 76... ...
In practice, an agency's facility renewal strategy is an element of the agency's real property capital plan, which flows from the agency's strategic plan and by extension its capital plan. In accordance with the Capital Programming Guide, one of the strategy's primary purposes becomes informing resource-andinvestment decision making through budget development, as follows: The Agency Capital Plan is the principal output of the Planning Phase.
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From page 77... ...
The culmination of this is the agency capital plan defined in the Capital Programming Guide, and by extension the agency's real property capital plan suggested in OMB M-20-03, "Implementation of Agency-wide Real Property Capital Planning." This progression of logic leads to focusing on value generation as the primary driver for facility portfolio renewal. In terms of federal facility renewal strategies, value is generated by delivering mission capabilities enabled by facilities when, where, and how it is needed.
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From page 78... ...
This sets the relationship used in supporting risk management frameworks detailed later. In this context, the agency's real property capital plan is the apex product of its facility asset management system, and the means used to establish and communicate supporting risk management activities.
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From page 79... ...
At the facility portfolio level, functionality measures focus on how a group of facilities can support mission-critical operations. Both perspectives are important to developing federal facility renewal strategies and are therefore critical inputs to the asset management system's risk management framework.
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From page 80... ...
This principle is founded on ISO 55000 asset management system standards employed to develop and implement federal facility renewal strategies. This principle, as detailed in Chapter 3, fully aligns with OMB Circular A-11 and A-123 requirements and guidance, including the explicit application of enterprise risk management and internal control requirements detailed in both.
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