I’m Tony Bailey, Senior VP of Real Estate, Facilities, Design, Construction, TPO, Physical Security teams at Umpqua Bank… As a first time presenter at TRIMAX – the combined TRIRIGA and Maximo User Group conference – I am excited to be able to meet with other companies that are at various stages in their path towards transforming both their facilities and their employee experiences using IBM TRIRIGA and Internet of Things (IoT) capabilities…
As we continue to expand our business, we will also leverage this knowledge as we deploy the Capital Planning capabilities in TRIRIGA. The lease administration capabilities are helping to streamline operations around construction procurement. For example, we are working on deploying a new e-invoicing capability that will automate many of time-intensive processes that consumed a lot of valuable resource from our business…
At TRIMAX in November, I will be sharing more details about Umpqua Bank’s project road map and lessons learned. I will be speaking about how we are incorporating IoT technologies to support our “branch of the future” vision, discussing in depth our plans to develop a dynamic floor plan – complete with traffic sensors and asset management to optimize our model – in an effort to drive just-in-time maintenance to help control costs.
I hope you are attending TRIMAX this November and I look forward to meeting you there to continue sharing best practices about our facilities management strategy.
[Admin: To see other related posts, use the Umpqua Bank tag or TRIMAX tag.]
Two Washington State agencies, Department of Enterprise Services (DES), Washington Technology Solutions (WaTech), and ValuD Consulting, an IBM Premier Business Partner, have partnered on an IBM TRIRIGA “Software as a Service” (SaaS) solution implementation to help DES Real Estate Services meet Washington State statutory requirements for their line of business and realize significant efficiency gains.
DES is implementing and/or in planning stages for the following IBM TRIRIGA deployments:
- Real Estate Management System (completed January 2016)
- Capital Planning & Project Management (future)
- Space Management (future)
DES overall objective is to implement a solution that will support:
- strategic planning,
- reduce occupancy costs,
- optimize the portfolio,
- and deliver metrics.
With the Real Estate Management System implementation, DES Real Estate Services is now poised to support best practices in lease management and transaction management…
Many breakdowns can occur in updating facilities and equipment data. If work orders are not entered in a timely fashion then the data is almost obsolete and lacks the ability to be used to successfully forecast future expenditures. Many schools have addressed this by implementing a computerized maintenance management system solution, or CMMS, that can integrate day-to-day operations with capital forecasting and planning. And while good capital forecasting software provides valuable insight and support, it requires adherence to essential best practices.
- 1. Prepare inputs carefully. We all know that data generates more data, and the quality of what goes in affects the quality of what comes out…
- 2. Integrate the data. Integrating day-to-day and work order data into the master plan is key…
- 3. Preventive maintenance. As the old adage goes, an ounce of prevention is worth a pound of cure; so it goes with preventive maintenance…
- 4. Reinvest to prevent a backlog. Industry standards advise reinvesting 2% of the current replacement value of an item annually to keep from having a backlog of work orders…
- 5. Engage stakeholders. In creating a capital plan, it is imperative that the community be engaged early and often…
Tracy Jefferson (NGKF CFI): Those of you out there might want to follow me on Twitter (@tracyjefferson) or subscribe to my YouTube channel. The YouTube channel isn’t strictly about TRIRIGA, but I post videos from time to time like the set this weekend that are short overviews of some functionality as requested by someone. If you have something you’d like to see a video of, let me know and I’ll try and accommodate you.
When TRIRIGA got started, the entire focus was to leverage web-based tools to improve process in capital projects. The short version was “stop sending data to everyone and start bringing everyone to the data”. This allows the entire project lifecycle to be captured in a more portable way. The benefit to the contractor is savings in time and money via improved communication and greater procurement visibility. The benefit to the owner and end users is better information about what was done during the project, when and why.
Over the years, we have added an additional layer on top of the TRIRIGA project record type called “Program”. This new layer allows for greater funding control across projects and fits neatly with the observed behaviors of the majority of our institutional and government clients.
Understanding the value of project management is key to gaining value from the TRIRIGA Projects module. At the heart of a project, budgeting and task data are captured during the entire project lifecycle, allowing a given user a view into the pulse of the project. This information allows for more informed, more timely, decisions for both tasks and resource allocation. In addition, this real-time capture of plans versus actuals enable a clearer view of budgetary trends. Even more capability includes secondary functions, such as permits, design control and validation, and formal risk management…
One of the benefits of an integrated workplace management system (IWMS) is that users know its information is available to employees at all levels. While the material may be used in different ways, the data is constant. This openness and clarity across departments enables better coordination and synchronization of goals and outputs…
Facilities usually have an overwhelming list of needs that has been recently exacerbated through large reductions in facilities expenditures. It is generally true that there will be more things to fix than is possible. While all requirements can be a problem for the asset, not all problems need to be addressed in the same way, and not all are equally critical. For example, issues in the headquarters building, the laboratory and the storage shed have different values and priorities. However, an IWMS such as IBM TRIRIGA can help document the decision-making process around where, when and how to apply precious and limited funds.
Most employees other than those managing the assets know very little about corporate assets and their terminology. If nothing else, perhaps the most important role of capital planning applications such as TRIRIGA (either on-premises or SaaS) is that they translate a facilities manager’s needs into a language that anyone in the finance and management organizations can understand. There is a direct relationship between the condition of the portfolio and the budget investment. The benefit is that instead of the facilities management group just asking for money, it is now in an open and clear discussion with the finance and management teams about the acceptable level of services and what it costs to deliver them — helping to eliminate questions to facilities management about “unknown spending.” With the plans created and the outputs agreed to, this creates better financial clarity and performance for the CFO, and brings the facilities management team to the table as strategic operational partners within the company…
The FASB and IASB have been busy finalizing the lease accounting changes. One of the last steps in the process is the issuance of the fatal flaw document to select external parties for review. The standard drafts appear to have been approved by both boards, and the word on the street is that the fatal flaw document has been issued for review.
Typically, fatal flaw reviews are issued for a short time period. The boards then consider comments from the reviewers, and the final standard is then issued. In the case of lease accounting, final review is forthcoming, with all indications that the standards will be issued in the fourth quarter of 2015. It’s expected standards will go into effect in 2018 for public companies and 2019 for nonpublic companies…
[Admin: Strange that the article doesn’t mention TRIRIGA by name at all. This post is related to the 07.17.15 post and 06.12.15 post about preparing for and countering the new FASB/IASB changes.]