Multi-period maintenance planning for public buildings: A risk based approach for climate conscious operation.

Improving the environmental performance of built environments has received wider interest in the recent past. Asset management is an under-utilized strategy to enhance and maintain desired environmental performance of a building at low life cycle costs (LCC). Current asset management decision-making methods are not fully capable of incorporating future technological changes and complex time sensitive environmental demands. There is a knowledge gap in incorporating factors such as environmental performance, risk and time sensitivity to foster dynamic asset management decision making. This paper presents a multi-period asset management method for public buildings to minimize LCC and attain climate action goals. A scenario planning approach is used to incorporate future changes in technologies, costs and organizational policies. Risk based prioritization is used to compare and select maintenance alternatives in a given period. Value at risk is used to identify the lowest risk capital planning strategy for an organization. The proposed approach was demonstrated using an operating aquatic centre building in British Columbia, Canada. Three possible future scenario were considered. Proposed method was used to develop multi-period maintenance plans for future scenarios. Based on the analysis, Great Transitions scenario is expected to achieve the least financial risk. The proposed approach enable capital asset planning by complying with changing climate action targets in a stochastic environment. [ABSTRACT FROM AUTHOR]