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Assessment Cycle

The cyclical completion of recurring studies (such as a reserve study or FCA) for each in-scope facility on a fixed rotation schedule. 

Depending on the type of study, assessment cycles can typically run every 1-5 years depending on requirements for:

Assessment cycles are set by one or more of the following:
  • Stipulated by local statutes
  • Set by the owner group based on their standard of care and tolerance for risk.

Purpose
The purpose of assessment cycles is:
  • To revisit assumptions - both physical and financial assumptions relative to changing circumstances.
  • To re-calculate FCI to generate an update FCI 
  • To determine reinvestment
Reassessment is usually conducted for the following reasons:
  • After major upgrade
The completion of a Standard FCA for each In-Scope Facility within a specified period and until a Re-Assessment Occurs.


Management of Re-Assessment Cycles

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Fig. Field inspections are one of the primary data collection methods used in a facility condition assessment.


Cycles of assessments and re-assessments for PNAs, CNAs and FNAs over a 40-year planning horizon
Fig. Cycles of assessments and re-assessments for PNAs, CNAs and FNAs over a 40-year planning horizon.


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Fig. Testing                           Fig. Destructive testing

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Fig. Interview                        Fig. Data survey


Cycles of update studies over a 10-year tactical window
Fig. Cycles of update studies over a 10-year tactical window.

See also:

A condition-age matrix comparing the status at base year and condition drift a few years late
Fig. A condition-age matrix comparing the status at base year and condition drift a few years later.

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