The Open Financial Review Model (“Open FRM”) is is a cost-calculation and Life Cycle Cost Analysis (LCCA) tool – for developing, maintaining and operating multi-apartment buildings. This open-source toolkit gives insight into the anticipated financial flows during the process of developing a multi-apartment building and throughout a 35-years period of running it. As it can be easily adapted to individual needs, self-developing co-ops can quickly gain insight into the financial/spatial feasibility and the affordability of their housing project.
OpenFRM is built around a spreadsheet with six different tabs (“modules”). Each of then looks at a different aspect of the (financial) “design” of a multi-apartment building. These sets of information are unique to the specific building and community that modelled with the toolkit. The modules are interlinked, which means that curial data is exchanged between the modules, and that changes are automatically processes throughout the modules. This makes it easy to review the impact of individual decisions on the total performance of the building.