The 10 Year Capital Works Budget Estimate will be completed in the prescribed format in Microsoft Excel. The 10-Year Capital Works Budget will provide estimates for capital works expenditure for short (0 – 1 year), medium (2 – 6 years) and long (7-10 years) terms. The capital works will also be rated by criticality as;
- Definite – System/equipment failed or imminent failure likely or works recommended to enhance work health and safety of building occupants.
- Very Likely – System/equipment presents a significant risk to persons and/or the facility or works recommended to prevent serious deterioration of systems/equipment.
- Likely – System/equipment is approaching the end of its economic life and/or has become redundant. These works are required to maintain the existing system/equipment function and/or performance.
- Fair – System/equipment is operational; replacement will improve the facilities performance and/or amenity however may be deferred if required.
- Low - System/equipment is operational not requiring replacement however replacement may improve the facilities market position, performance ratings and/or return some benefit.
This methodology provides guidance for expected expenditures and allows for prioritising expenditure ensuring the asset remains in an as-built condition providing occupants and tenants with a safe and efficient building.
