182 - Addressing Data Collection Challenges for Cost Analysis: Utilizing Enterprise Systems and Stakeholder Collaboration for Facilities Space Costing

Abstract Information: In both economics and business literature, the principles of cost-effectiveness analysis are well established. However, the practical application of these methodologies, especially in unique contexts, presents significant challenges. This is particularly true in the scope of college campus space management programs. Without thoroughly designed cost frameworks, administrators are left without a clear understanding of the returns on their space management efforts, let alone how to optimize space allocations to fulfill the institution's mission effectively. On the cost end, the task of estimating the operational costs of specific types of spaces, be it an office, a research lab, or a common area is relatively complex. The diversity of space usage introduces complexity to data elements and forces rigorous collection efforts. Moreover, the occurrence of unstandardized, incomplete, and inconsistent data recording practices necessitates dependence on supplementary data, assumptions, and summary-based allocation logic for analysis. This poster presentation aims to explain how data from Enterprise Resource Planning (ERP) systems can be harnessed to engineer essential cost data elements for such analyses. Furthermore, we will explore how data from heterogeneous systems, custom instruments, or protocols can be leveraged to outline major cost components associated with managing space facilities. Drawing on our comprehensive study that integrates ERP and other supporting systems data with custom datasets developed through stakeholder collaborations, we will offer insights and methodologies for novice evaluators tackling the complexities of cost data collection in managing campus-wide space facilities.