-1.png){kind=small}
Lifecycle Plan
A lifecycle plan connects asset information, maintenance, renewal and disposition decisions across the life of a property component or system.
A lifecycle plan documents how an asset will be managed from planning and acquisition through maintenance, renewal and eventual disposition. For a property team, it connects component records, observed condition, planned interventions and the reasons for those decisions.
DOE describes lifecycle facilities management as planning and budgeting, acquisition, sustainment, and disposition. For a PM company, the plan should identify the source records, responsible owner, review date, and assumptions behind each item. It is a planning aid, not a promise that a component will last to a particular date or cost.
Frequently Asked Questions
What information helps an operating team use a lifecycle plan?
A property team can document the component, the source and date of its condition information, the planned intervention, the responsible person and timing assumptions. Review those records when inspections, costs, use or priorities change.
More in Asset Management
See all Asset Management terms →Acquisition Fee
In real estate investment, an acquisition fee compensates an adviser or manager for services associated with acquiring and closing a new investment.
Read definition →Appreciation
Property appreciation is an increase in a property's market value over time.
Read definition →Asset Condition Index
Asset Condition Index summarizes documented component condition and, where applicable, functional performance; its method must be stated before scores are compared.
Read definition →Asset Management
Strategic oversight focused on financial maximization, capital allocation, risk management, and long-term asset value growth for property owners.
Read definition →Asset Management Fee
An asset management fee compensates an investment manager or adviser for oversight and management of real estate investment assets.
Read definition →