Notes on M&R Cost Benchmarks |
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Forecasts of M&R costs often rely on an objective reference point or "benchmark." Derived from surveys or statistical models, these are usually expressed in terms of cost per square foot or cost over replacement value. In some cases a benchmark is the sole basis for forecasting a facility M&R budget--especially when a long-term estimate is required, or the building inventory is large and diverse. In other cases a benchmark is used as a point of comparison, to put more detailed estimates in perspective and add credibility. In either case, M&R funding benchmarks play an important role in the distribution of scarce funds. The following is a collection of cautionary notes on the selection and use of cost benchmarks. |
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Notes on M&R Cost Benchmarks.
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