How to plan your life sciences facilities CAPEX for max ROI

Picture this: You’re investing in backup batteries for your laboratory equipment to avoid downtime and product damage in the event of a power outage. Although you could go with a more expensive, stronger battery, you choose a less-expensive option that’s slightly less powerful but still gets the job done. But that “inexpensive” battery needs to be replaced two years earlier than the more expensive one, causing you to lose money in the long run just to save some in the short term. Integrated facilities management (IFM) is an effective solution to capital planning challenges such as this.

By integrating FM functions and vendors into a centralized team, typically in partnership with a real estate services provider, you can adopt a holistic asset lifecycle management strategy that gives you full view of how your buildings and assets are performing, allowing you to be proactive in your investment decisions and prioritize them appropriately.

The following scenario illustrates how IFM differs from traditional FM or having no FM provider when it comes to capital planning.