Victoria University Asset Condition Audit

Client: Cushman & Wakefield

Location: Victoria University, All Campuses

Year: 2015-2016

Challenge: As part of the Cushman & Wakefield due diligence processes, the University required an asset condition audit to determine the nature and extent of any facility issues and risks, with cost estimations defining the capital works and maintenance program over the next five years, in accordance with TEFMA reporting guidelines.

FGA Role: Working within strict timelines, FGA engineers conducted extensive asset condition audits across all nominated Victoria University campuses. The audit included liaison and consultations with existing University facility managers, operators, and all contractors across services areas to understand the historical and anticipated facility issues and risks. The core of the audit was a series of walkthrough inspections, providing a detailed catalogue of assets information as required by the Cushman & Wakefield asset management framework, risk assessment, supported by extensive photo library references.

For major active assets, FGA's engineers provided individual asset commentary and recommendations for action, with prioritised projects recommended year by year for the first five years across mechanical, electrical, hydraulics, BMS, fire and security assets.

Outcomes: The Audit provided a detailed evidence base on which to manage technical risks over the duration of the contract. The findings and recommendation provided value to Victoria University staff to further optimise the facility management activities, and enabled Cushman & Wakefield to enter the contract with the appropriate due-diligence completed.