Leveraging facility management in real estate

Facilities management (FM) is a process of managing and maintaining the facilities in an organisation. It has gained importance in the past few years, after a reluctant start in the 1990’s, as the corporates have identified that well-managed buildings and facilities can function more effectively and efficiently. The FM team consist of professionals involved in day-to-day analysis, maintenance, upkeep and repair of the utilities. Strategically planning of such activities helps to reduce cost and increase employee productivity. However, the FM personnel need to ensure that all the facilities in the organisation are compliant with industry health and safety regulations such as fire prevention methods and emergency exit plans, effective waste disposal, control of hazardous substances and maintenance of the parking space. They should plan their work with a customised process to achieve the desired quality while ensuring safety and efficiency.

Predictive and preventive maintenance of all assets in the facility helps in business continuity, thus achieving the competitive advantage. The FM organisations have continuously working on improvements and technology keeping in mind the quality and safety aspects to increase productivity. On the other hand,  corporates are also involving FM team in strategic planning process in a bid to save cost and improve efficiency.

FM has a significant role in strategic planning, however majority of the time is spent on regular day-to-day operations. The use of technology in FM will help the facility management personnel to spend more time on brainstorming especially the strategy aspect. Additionally, technology helps in tracking and managing the company's property and utilities. This saves time for the facility management personnel to make quick decisions for business continuity and progress.

The goal for any organisation is to save cost, improve productivity and increase the return on investment. As facility management professionals are instrumental in meeting the company’s goal, their presence is highly significant in the current corporate real estate scenario.

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