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April 17, 2018
Facilities Management: Value Vs. Cost
Francesca Brady

Facilities Management: value vs. cost

The day-to-day management and maintenance of high-value facilities or residential buildings is an ongoing, demanding task. Proactive Facilities Management (FM) is a smart way to protect any original investment and achieve noteworthy savings. The exact formula is unique for each case and depends on internal and external factors, but most large-scale organisations have financial incentives to conduct effective facilities management, either with in-house resources or through a provider.

Here is a quick overview outlining the potential financial benefits of a suitable facilities management strategy:

Direct savings

Poorly maintained properties suffer from ongoing issues, resulting in the frequent need for on-location repairs. When such work is conducted in an ad hoc manner, or under urgent conditions, it is typically more expensive and less reliable. On the other hand, proactive management of the property can reduce instances of equipment failure and ensure that facilities remain in a good operating condition. Spending more in advance on a professional and proactive FM service will lower the total cost of repairs and service interventions, creating an annual net gain for the building owner/s.

Energy and insurance costs

Top FM solutions can guarantee a more optimal use of electricity throughout a building, leading to lower energy bills at month’s end. They can also have a positive impact on property valuation and be instrumental in obtaining more favourable insurance policies. Taken together, these two items account for a large chunk of operational expenses, so any reduction is more than welcome, especially when it doesn’t entail any loss of practical functionality or comfort. Companies operating in colder climates obviously stand to save more than the others.

Increased productivity

Organisations that prioritise smart facilities management typically enjoy a better working atmosphere and have more reliable access to critical tools and resources. This usually translates into higher productivity and a more loyal workforce, even if the wages remain at the same level. The exact financial value of this factor may be tricky to quantify, but it shouldn’t be underestimated as obviously higher productivity means higher output and profits.

Environmental factors

Taking the long-term view, effective facility management can reduce the amount of environmental damage caused by intensive asset intervention. Rational use of energy and safe waste disposal are clear examples of activities that can be more effectively managed with a smart FM approach.

By prolonging the life-cycle of large facilities and ensuring their most optimal use, it is possible to preserve more areas of nature that may otherwise be cleared and or paved over.

In conclusion, smart FM and taking advantage of the latest technology innovations, not only allows companies to reduce outgoings and have a less negative impact on the environment, it also potentially protects and expands the lifespan of assets while improving living and/ or working conditions.  

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