For facilities managers, deferred capital renewal (DCR) is the issue that, in many ways, can play the role of spoiler for other programs and initiatives are that important to their campuses. In particular, operations and maintenance programs, campus growth strategies, and even sustainability programs can suffer setbacks caused by the unplanned system failures and/or the significant funding required for an adequate capital renewal program. In looking at the issue of DCR as a spoiler to higher priority programs, the viewpoint of this article intends to be simply an economic look at the challenges and some opportunities present when dealing with this topic. This approach encourages a more integrated view of DCR and its physical and financial relationship with other institution programs and their objectives. Since these programs require funding and other resources, they must be prioritized and various elements traded off in order to be effective. (Contains 2 tables.)