Keywords: healthcare, performance, fund, key performance indicators, capital renewal, optimization, assessment, prioritization, hospitals..

Healthcare facilities are among the most challenging assets to maintain. Because many healthcare facilities are aging and involve specialized equipment and functional spaces, management's decisions of prioritizing capital renewals have become an enormous challenge, particularly under limited budgets. This research introduces a practical and comprehensive framework that renders the capital renewal process more structured, less time-consuming, and more appropriate for the specialized needs of healthcare facilities. The developed framework incorporates a multi-criteria performance assessment process that evaluates the building systems and spaces in terms of environmental sustainability, level of service, and risk of failure. In addition, it also incorporates an optimization model to optimally allocate capital renewal funds among the various components. To validate the developed framework, a field assessment was conducted at a case study hospital. Extensive experimentation on the case study demonstrated the practicality and effectiveness of the proposed framework. Overall, this framework re-engineers the traditional processes of performance assessment and fund optimization for the building infrastructure and greatly improves the decision-making process for capital renewal .

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