The Importance of Developing a Standardized Capital Replacement Plan

Content Areas: Strategic Planning | Tags: Analytics, Asset Management, Capital Equipment, Strategic Sourcing | Formats: Event
Member Price: Free | Non-Member Price: $99 | CPE Credit: 1

Capital equipment replacement planning is an activity many organizations engage in year after year. From ascertaining the current state of your equipment to prioritizing how funds will be spent, a standard process that includes gathering the data needed to determine priorities is crucial. In this webinar, we will outline a process of evaluating current equipment utilizing specific data elements and identifying where that data can be obtained. We will discuss and identify appropriate stakeholders as well as the roles and responsibilities required to develop a collaborative, system-wide plan.

How this Session Relates to the Cost, Quality, and Outcomes (CQO) Movement: Standardizing a process for capital replacement planning will save time year after year when identifying replacement needs. Identifying the right stakeholders and using specific data elements to evaluate current equipment will improve an organizations ability to identify what truly needs replacing, thereby delivering bottom line savings.

Learning Objectives

  • Outline the importance of logical multi-year capital strategic planning.

  • Identify team members/stakeholders and roles and responsibilities.

  • Describe the key components of a strong capital replacement strategy.


Presenter: Dan Marcouiller, Manager, Capital Planning and Development, Allina Health