business plan for facility management company

Tips for Drafting a Facilities Management Strategy

How to make a facilities management strategy right for your business.

Strategy is important in everything from board games to business planning. In the latter, strategy is often the key to success—a concentrated effort toward a measurable goal. If your goal is to leverage facilities into business success, strategic facility management is paramount. It’s a combination of facility management and facility planning, stitched together with a set of clear-cut outcomes in mind. 

Strategic facility management is all about focusing on the long-term. Applying strategy to facility management gives purpose to the workplace, making it a focal part of broader company initiatives. But, like all strategies, one involving facilities management needs clear motive. 

The best thing an FM can do to keep pace is pay close attention to the needs of facilities and the people using them. The demands of people and the way they work perpetuate trends within facilities management. It’s the duty of a facility manager to see that they’re adopted, optimized, and measured. 

What is Facility Management?  

Facility management is a broad term to describe the responsibilities focusing on building operations, workplace management, space planning, maintenance, security, asset management, and several other areas of real estate or real property.  

Using tools and technology like software solutions, facilities managers are tasked with keeping the environment around staff and the building itself running smoothly. Keeping an eye on maintenance schedules, carbon emissions, occupancy rates and data allow facilities managers to weigh in on decisions with insightful data on how a workplace is functioning. 

Supporting the Company Goals & Values  

Ideally, facilities management strategies are set up in such a way that they support the internal and business goals of the organization while aligning with stakeholder sentiments. Internal goals may focus on employee experience, lowering carbon emissions or optimizing the design of an office space/floor.  

Facilities management is often the unsung heroes of a company, supporting employees and the operations through their work with the building and collecting data on the one of several aspects they are responsible for.  

If your company values creating a workspace that is conducive to productivity and supporting the people within it, then facilities management efforts should reflect that and be aimed at giving their people the best environment possible. 

Key Considerations when Building a FM Strategy  

Now for the checklist you’ve been waiting for. 

1. Focus not only on cost savings but value creation  

Businesses traditionally operate from a standpoint of ROI and wanting to lower costs from any means necessary. Facilities management can do that, and often this is a product of good facilities management, but it should not be the only foundational reason for why you are doing what you’re doing. 

Creating value through your work can take many shapes and forms , whether it be changing the way a space is used, how maintenance is done so it costs less, or elevating how your organization uses and sees technology by introducing innovative processes or tools. 

Value creation uplifts the entire organization, not just accounting and facilities. Your strategies should have a goal to always improve some aspect of the workplace, leaving it better than it was prior. 

2. Implement a sustainable facility design plan.   

Sustainability might be starting to sound like a bit of a buzzword by now, but it’s far from it. The impact and the importance sustainability has on organizational success is prevalent across every industry. Many tips for improving facilities management plans revolve around creating sustainable business practices.  

Committing to initiatives like proactive maintenance, energy use, building operations and technology, are all physical asset focused things that can help the longevity of systems in the workplace.  

Design goes beyond the HVAC and lighting though; facilities management also encompasses space planning, space management, and workplace tools. Stuff like desk hotelling and reservations that leverage occupancy data to show a big picture of how the office is designed and being used. Designing an office to be best suited for the needs staff and people have has a compounding effect on what is put into work and the culture of a business. 

In some cases, such as manufacturing , sustainability is a main driver of growth and innovation as it gives a company the opportunity to evolve and adapt without expensive process overhauls. 

3. Know the total cost of all facility work done both directly and indirectly.  

At the end of the day most things do, in fact come down to costs and the bottom line. A successful facilities management strategy that is focused on the long run will have to consider costs and how much is being spent over time to make accurate assessments.  

Indirect costs can add up over time and should be tracked just as closely as direct costs to give yourself a clear picture of where your expenses are coming from and how your facilities might be responsible for certain downstream costs. 

Direct costs are the ones you see and handle from a cause-and-effect standpoint. HVAC maintenance? Repair invoice is a direct cost that goes into the long-term costs of your buildings life cycle. 

4. Consider the entire life cycle costs of a building.  

Buildings are long-term investments, and if you are the sole organization using yours, then the long-term life cycle costs are going to add up overtime.  

Considering things like leasing, maintenance, how your space use will evolve over time, and potential technology integrations are all going to be a part of the life cycle that adds to the list of costs. 

Considering short-, medium-, and long-term costs over the course of the life cycle forecasts budgets while giving you a look at the full scope of costs. Further, highlighting areas where investments might need to be made to make up for areas that are lagging or are experiencing issues.  

5. Optimize the use of available workspace by increasing ROI, not people per square foot.  

How you use your office space will be a key factor in if you are getting the best ROI, not how many people you fit into the office. That way of thinking that more people = more ROI, is simply not true anymore.  

Increasing your ROI on your workspace can mean investing in your workspace to give your staff what they need from an office . The use of a space management solution can help you on your way to optimizing this. Outfitting your space with everything your people need and keeping it that way is the best avenue to getting a better ROI on the space, by empowering people to get the most from it. 

6. Be the master of your company’s physical assets.   

Facilities management needs oversight of all assets and systems, from HVAC to lighting to office space and floorplan. Mastering these and the rest of your assets, knowing the reporting metrics and maintenance schedules means keeping everything in running order.  

Mastery means staying on top of things and keeping assets and their life cycles in line with business goals and values. Planning, operations, maintenance built into a robust strategy will eliminate headaches and unforeseen issues down the line.   

7. Automate automate automate!  

Successful and proper automation takes significant load off your team while streamlining processes surrounding maintenance, asset management, and even long-term costs. 

If you can ensure that you receive notifications, updates and scheduling reminders from a software solution regarding your ventilation system or the energy use from your lighting, that takes any guesswork out of it. You now have more bandwidth to address other areas and conduct analysis on reporting. In terms of cost, this gives you a clearer picture over the long and short term of where costs are going to be arising from and how often.  

This expands into total building automation, where the internet of things (IoT) and smart spaces are creating self-monitoring environments and systems to control things such as carbon emissions or energy use. Keeping levels under a certain amount without constant adjustment and checking of data makes reaching net-zero goals a more attainable end line. 

8. Introduce IoT to reduce costs and enhance capabilities.  

IoT systems are still relatively new, and their adaptation in a mainstream sense is yet to be realized. However, their benefits and application are readily apparent.  

Leveraging an IoT system in the future enhances what facilities managers can do as their network of interconnected tools grows as a result. Self-monitoring and data collecting IoT networks give greater reach and insight into how a building or workplace is interacting on a facilities level.  

In an increasingly digital dependent age, introducing IoT into your toolkit could be the catalyst to complete control and facilities optimization in your office using data on the connected areas. 

9. Ensure KPIs highlight both errors and opportunities.   

Analytics, data, reporting, all this information without context and clear KPIs loses some of its importance. Developing clear KPIs in your facilities management strategy that highlights both shortcomings and errors, as well as opportunities for improvement gives direction and purpose to your goals.  

What these look like is going to differ with each organization, but some core principles can include monitoring all areas, including those which your organization is actively working on improving. From there, establishing what constitutes the difference between an “error” and an area of opportunity in both a quantifiable and qualifiable way.  

What levels reflected in a system should be marked as a red flag? Where are areas that are not at their peak performance and could benefit from optimization? Optimize KPIs and your ROI will improve as a result, getting the most out of your facilities. 

10. Understand how workplace digitization plays a role in lowering costs.  

You’ve likely heard this term thrown around a lot during the last couple of years, with digitization rising to the top of priority lists in organizations to navigate a remote world. Digitization and the integration of in-house data and servers means less expenses through third parties as well as access to all data when needed and can be used as needed. 

Digitization leads to better decision making and innovation , which obviously leads to better IT decisions and business decisions to improving ROI on things such as infrastructure and usage. Integrating this into a strategy will optimize your facilities approach. 

More efficient processes and decisions will lead to lower expenses and better outcomes if things such as facilities management are digitized, as automation and better maintenance means more regular preventative action and less reactive action that could cost significant downtime, repairs, or replacement. 

11. Keep industry evolution in mind  

Things are changing and evolving every day, it may not be a groundbreaking piece of tech every week that changes an industry, but the gradual adoption of ideas and ways of doing things that lead to true evolution. To effectively draft a facilities strategy with this in mind, digitization and being open to new technologies is an important step.  

Understanding that things will change means keeping an open mind and staying up to date with trends. A good way to do this is subscribing to reporting entities like Verdantix for industry reports and trends that are developed with the help of key players in your space.  

Using these resources and listening to professionals around you who are in the same role can shape your outlook and have a forward-facing goal in mind when creating a facilities management strategy rather than only focusing on managing day to day tasks.  

Integration of a workplace management system to keep things in line, as well as visualization software or digital twins for asset management and insightful data collection only adds to your arsenal of tools to help get your facilities management strategy to where you and your business want it to be.  

Facility planning: A strategic approach to a better office

Facility planning is essential for the modern office, especially given the rapidly changing landscape of today’s workplace. With more and more companies embracing remote work , hybrid work , and more flexible working in general, they need strategic solutions that come from good facility planning in order to maintain structure and productivity. 

In this article, we explore why and how facility planning can help companies stay profitable and better support their workers. Even in the midst of new and changing realities on the ground. 

Panel Discussion

Top strategies for hybrid office space planning with CBRE’s Susan Wasmund

What is facility planning?

Facility planning is the systematic process that smart organizations use to ensure they have the facilities and related resources necessary to meet both their short and long term goals. Sometimes referred to as strategic facility planning, it’s the key decision-making that companies use to future-proof their workspaces. 

The reality is that simply following space management best practices isn’t always enough for your facility. Without good strategic planning and foresight, companies often stay stuck in problem-solving mode, instead of anticipating new problems before they arrive. 

On the other hand, when companies realistically assess their current and future space and facility needs, they can put themselves in a much better position to weather any new storms. 

In other words, facility planning is what helps companies take a proactive approach to their workplace strategy and real estate management , instead of a reactive one.  It’s about bringing business goals in line with facility goals. It’s also about ensuring both the business and its facilities are ready for the future. 

Who is responsible for facility planning?

The facility planning process is complex, requiring a high level of collaboration in the workplace .

That said, facility needs are typically handled by a facility manager (FM), or a facility management team. FMs make great planners, because they typically have both the data and resources at hand to make smart decisions for the office. And because keeping things running smoothly and anticipating needs is ultimately their main goal. 

FMs are responsible for all aspects of facility management, including ensuring employees have the tools and space they need to do their jobs properly.  As such, they are in the best position to understand facility goals. This is especially true when they collaborate with either an executive or growth team to stay up to speed on overarching business goals as well. 

Moreover, the roles and responsibilities of FMs have been evolving since the pandemic, so that they are more and more becoming leaders in their organizations—again, priming them to be in the best position to make good facility plans. 

This is also one of the main reasons why facility management services are usually best handled in-house—either by a dedicated FM, or by using facility management software to disperse these tasks among invested team members.  

What are the four steps in facilities planning?

No matter who manages facilities planning for your organization, this process works best when it follows the following four steps.

1. Understand your goals

As we’ve mentioned, facility planning is about bringing business goals in line with both current facilities and any planned expansions. So before any planning actually takes place, the planning task force needs to identify what demands are being placed on them from the business, coupled with the realities of their existing facility.

Thankfully, these two perspectives often dovetail. 

For example, cost-effective sustainability is quickly becoming a goal of virtually every business. 

Improving space utilization —which can dramatically cut back on the amount of corporate real estate needed—can therefore keep everyone happy. 

Remember, business drivers will vary from company to company. This ranges from responding to changing markets or demographics, adopting new information technology, preparing for potential mergers, or opening new offices or storefronts, just to name a few.

And of course, virtually every company is concerned with growth. 

Identifying which goals are most important now is the critical first step to planning. To make this process work, everyone on the facility planning team needs to understand the mission, vision, and company culture. 

FMs should therefore be given the tools and access they need to evaluate the entire real estate portfolio . Then, they can then understand how the business plan and other items coming down the pipeline will impact their space needs.

Only when they are armed with this critical data can they understand if current facilities will meet demand, or whether construction projects—or maybe just a better desk booking system—should be planned for the near future.

2. Analyze and set benchmarks

Of course, planning doesn’t stop with simply understanding your goals. You also need to understand how to actually make those goals a reality. 

To properly plan a facility, FMs need to leverage any and all existing data about the organization’s existing space management.

This isn’t just about knowing what your square footage is; it’s about figuring out how those square feet interact with staffing concerns and long term goals. 

Specifically, FM need three tools to strategically analyze their existing workspace and make plans for change:

• Comprehensive reports and analytics that provide actionable insights into the existing needs of employees and real-time use of existing space, including occupancy and portfolio reports
• Scenario planning software, which makes it easy to virtually test out the impacts of reconfigurations before having to manually implement them
• Stack plans , which provide a high-level picture of how space is currently being used

Of course, this assumes there is already an existing strategy in place to maximize the three basic elements of space management —effective space planning, effective office use, and effective space tracking. 

When these systems are in place, and the right data is being collected, FMs can use them to perform gap analysis and set benchmarks. This will guide future facility management in the best way possible. 

3. Start planning

Once FMs understand both their goals and their benchmarks, they can begin the actual work of creating their master plan. This is when the challenging work of translating a facility plan into a business plan happens. It will look different, depending on the business drivers for your organization. 

To plan properly, FMs should first document their primary objectives, and then conduct a risk assessment of any plans. This assessment should include cost analysis, which can be done using scenario reports. 

At this stage, FMs can also benefit immensely from move management software . They will also need to develop a method for both gaining approval and reporting on results. 

Especially if their plans will include new working policies (such as implementing flexible seating arrangements like hot desking or office neighborhoods ), they may also want to seek input from both human resources and the employees themselves. 

In fact, companies should look to include all stakeholders in all aspects of the strategic planning process. 

4. Start acting

The more FMs are able to maximize the first steps of facilities planning, the easier acting on their plan will be. 

This is also where the right tools become essential. The best way to implement any new changes to a workplace or facility is with the right facility management software. Ideally, this is one that can integrate with your company’s existing integrated workplace management system (IWMS).

Finally, remember that strategic facility planning isn’t a ‘one and done’ occurrence. 

This is an iterative process. Any plans will need to be assessed, adapted, and maybe even rewritten on an ongoing basis. This will include continually relying on real-time data and comparing it against financial reports and other benchmarks. This will provide a picture of what’s working and what isn’t. 

What is the importance of facilities planning? 

There is a rise in types of work environments , the growing reliance on the digital workspace , and greater competition. As a result, we can only expect facility planning to become more and more important. 

When managed properly with the right tools, companies can expect to see the following benefits from strategic facility planning:

• Cost savings and improved sustainability, usually in the form of requiring less office space
• Improved employee experience and engagement, derived from new working arrangements that make better use of office space and enhance the digital workspace as well—critically important now during the Great Resignation
• Greater efficiency, thanks to the thoughtful analysis of how resources can optimized

Better still, these new changes will likely benefit other departments, potentially improving all aspects of using an office. For example, when FMs bring in better wayfinding systems to support any of the hybrid work models we’re currently seeing, they’re actually making the office easier to navigate for anyone who walks through its doors. 

In other words, when organizations are planning their facility, they are actually planning to future-proof their facility.

What are the dangers of not having a plan? 

Like Benjamin Franklin famously said, if you fail to plan, you are planning to fail. Winging it is simply not an option. Especially when you’re managing something as complex as even a small company—let alone complete enterprise facility management . 

As the pandemic taught us, things don’t always go to plan. But the companies that had a system in place for making and implementing plans were the ones that were able to more quickly adjust to the new reality. Companies that have the right approach to facility planning will always be more nimble and resilient than those that fail to plan in the first place. 

See OfficeSpace in Action

Get a personalized demo and create a hybrid workplace that works for everyone

OfficeSpace offers a software solution that makes facility planning easy. Reach out for a free demo. 

Photos: Thirdman , Sora Shimazaki , ANTONI SHKRABA production , Mikhail Nilov

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What Is Facility Management and When Should a Business Start Thinking About It? Maintenance cost escalating? Trouble tracking assets? Who ya gonna call? Maybe facility management is for you.

By Bryan Christiansen • Apr 19, 2019

Opinions expressed by Entrepreneur contributors are their own.

When you're running a business so small it fits into one tiny office, facility management is not something worth losing sleep over. But as your business grows, that one office of yours may turn into a building and a single machine transform into a production line.

Before you know it, you'll have a bunch of assets that need to be taken care of on an ongoing basis.

Related: How can entrepreneurs effectively manage their business inventory?

This is where facility management enters the scene: It ensures you a well-organized environment in which both your business and employees can thrive.

Facility management: the basics

At its core, facility management is a profession that focuses on the efficient maintenance of an organization's buildings and equipment in a way that offers the best value to the building owner and users alike.

It's also a multi-disciplinary support service that can be applied in any niche or industry. Among its many applications is that it can ensure safety, functionality and comfort in the built environment as well as compliance with existing legal requirements.

In North America, the facility management market is experiencing increased patronage from a wide variety of businesses: The Transparency Market Research 2017 report estimated a compound annual growth rate of 13.6 percent between 2017 and 2024.

Still, if you have never used professional facility management services before, you may be wondering if, or when, it should become the next step for your business. Here are the signs that it's time for a business to start thinking about adopting facility management:

1.Your maintenance cost is escalating.

It's an accepted fact that maintenance costs money, but these costs should not run down your business.

When you notice that repairs and servicing costs are rising inexplicably every year, some common money-wasters to check include abuse or under-utilization of existing equipment, wasteful stocking of inventory and spare parts and unused office space. Wired reported in 2013 that over the previous 30 years, the United States had added about 2 billion square feet of office space to its existing stock, which is not something today's highly mobile workforce needs. Having more space to maintain automatically increases your maintenance costs.

Another factor that quickly adds to your bottom line is poorly managed maintenance personnel and other staffing expenses. Over a 30-year period, while the operating and maintenance costs of a building account for 6 percent of total costs, personnel costs alone account for a staggering 92 percent, according to a British study reported on by Researchgate.

If you're running a system where you frequently call on independent plumbers, electricians, heating engineers and other technicians , the costs quickly pile up. Not to mention the fact that engaging these contractors also carries the risk of quality control issues, especially if:

• You have a very large facility.
• You are managing multiple locations.
• You have no real way to track whether tasks are being carried out properly.

One of our clients, Joe Romero from Myriad Genetics, had this exact problem. He had been hired as a facility manager and noticed that his predecessor had been tracking everything manually, which meant the company had no clue whether maintenance tasks were actually being completed.

When Romero implemented facility management software, he could see whether outside contractors were doing the work they were billing for. Long story short, he had to replace his primary maintenance vendor because he found out that that vendor was not doing the work he had been contracted to do.

Related: Top 3 Upcoming Trends in the Indian Facility Management Industry

Because of these problems, some businesses form an internal team or look for a single vendor to take over their back-office responsibilities. A good example is GoDaddy, which was able to realize 10 percent cost savings by employing integrated facility services . Another interesting note in that success story was how one reason GoDaddy went with integrated facilities services provider ISS was because ISS was already operating in all geographical regions GoDaddy was planning to expand to.

2. You're having difficulties in asset management and tracking.

Knowing that over 40 percent of small business track their assets manually or don't track them at all is concerning. While this practice causes minimal problems early on, real issues will start popping up as soon as you start to scale.

Facility management can help you manage and track assets and inventory better if you are experiencing any of the following:

• Asset register is inadequate or doesn't exist at all.
• It's becoming increasingly difficult to track the assets owned by the company.
• The organization cannot confidently declare its asset position.
• The current condition of any asset and its location is unknown.
• If any equipment, machine or tool were to go missing, no one would notice.
• You keep buying replacements for equipment only to find out later that you already had them.

Stanley Healthcare reported that a mobile solution for inventory tracking can reduce search times for needed equipment by 90 percent, as well as help a company realize significant cost savings by avoiding unnecessary inventory purchases (improving inventory invisibility) and equipment loss (shrinkage control).

3. You're seeing a rising backlog of uncompleted maintenance tasks.

Multiple research sources, like this one from Steelcase Global, confirm how employee engagement positively correlates with workplace satisfaction. In other words, happy employees are productive employees. Without a designated facility management service, however, it is only a matter of time before they become frustrated and distracted because of leaking taps, broken light bulbs or an air conditioning unit in the staff canteen that isn't working properly.

Even if these tasks are instructed to call appropriate services, these tasks are often put off untll later -- so they start piling up. Soon, the business is faced with a considerable deferred maintenance list and very little hope of resolving everything. Research from Rick Biedenweg and his colleagues at Pacific Partners Consulting Group discovered that every $1 deferred in maintenance costs results in $4 of capital renewal needs in the future, so this is something you definitely want to avoid.

Preventing the creation of a backlog of uncompleted maintenance tasks is just one of many responsibilities of a facilities manager .

4. Recurring safety issues

Recurring safety issues are an indication that you are operating in a potentially dangerous environment. The simple truth is that improving safety at your facility is not a matter of choice -- it is required by law. Every year, OSHA issues over 40 000 citations , with the most common repeated offenses being:

• lack of personal protective equipment (PPE)
• absence of a hazard-communication program for chemicals
• failure to maintain logs of accidents and injuries
• lack of safety training

Facility management takes these factors into accounts and can help you reach and maintain the highest levels of operational safety using a combination of technology and human expertise and following these extensive Environmental, Health, and Safety Guidelines .

Related: 5 HR Strategies To Promote Employee Health And Safety

When it's time for a change

If any of the above situations describes the current situation in your business, it's clear that time and valuable resources are being wasted. It doesn't matter if you are going to form an in-house facility management team or outsource everything to an independent contractor. The point is that you understand how facility management can result in significant cost savings, improved safety performance and better overall service delivery for your company.

Founder and CEO, Limble CMMS.

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Elevating operations: a strategic approach to facilities management strategy.

A company's productivity is significantly affected by its facilities' operations and planning.  

Strategic solutions derived from effective facility design are essential for firms to sustain structure and productivity in the face of increasing use of remote, hybrid, and flexible work arrangements. 

Although, it could be difficult for a facilities manager to actively participate in f acilities management strategy discussions, doing so has been known to reportedly provide benefits in the long run.

In a way, it is all about making the workplace future-proof via data-driven research and solutions that concentrate on people. 

Having said that, any type of facilities maintenance strategy, whether it's confined to a set of offices, or more of a braod-range operation, calls for meticulous planning and execution at multiple levels.

Understanding this process from an operational efficiency point of view is crucial to whatever the term: "facilities management strategy" entails on your turf!

Here's an in-depth look at everything you need to know to get started in a hassle-free manner.

What is a Facilities Management Strategy?

Facility Maintenance Definition: Organizations utilize facility planning as a strategy to arrange their resources and physical spaces. It guarantees that workers have access to sufficient space and resources to carry out their jobs effectively and accomplish the company's objectives.

To implement strategic management of facilities , a company, and its facilities staff must shift their attention from short-term fixes to more long-term strategies and activities.

Rather than haphazardly assigning tools and workspace, this proactive method necessitates defining a plan for managing space and resources. To get insight into a space's use, it is common practice to gather statistics on occupancy and usage rates. 

The end purpose of facility planning is to make sure that businesses succeed by making sure that offices are good places to work.

The first step in f acilities management strategy that really helps your company succeed is figuring out how your workplace contributes to the bigger picture. Additional reasons for implementing strategic facilities management might include:

• Making the switch to hybrid work
• Bringing in and keeping the best talent
• Promoting a more cooperative and trustworthy culture
• Using environmentally friendly procedures at work

What is Integrated Facilities Management?

A comprehensive strategy for overseeing a company's infrastructure and physical assets is known as integrated facilities management (IFM).

Planned maintenance and repairs , energy management, space utilization, health and safety compliance, and property and asset management are just a few of the facility services that are integrated by IFM.

Organizations can now centralize operations and monitor their F acilities management strategy data from anywhere thanks to cloud-based technologies like Facilio.

What is a Strategic Facility Plan (SFP)

The International Facility Management Association (IFMA) recommends that managers familiarize themselves with the following three things before putting together a thorough Strategic Facility Plan (SFP): 

• The organization's core values (or evolving values) and how facilities should reflect those values; 
• A thorough evaluation of the facility (including its location, capabilities, and condition); 
• And, lastly, a basic comprehension of how the organization's objectives could lead to expansion or contraction in terms of facilities.

Managers will be functioning as a "strategic" support system if they can verify each of these benchmarks with the relevant departments and figure out how to back their organization's facilities maintenance goals and objectives while implementing efficient day-to-day protocols. 

This synthesis of "current" and "future" enables all stakeholders to optimally deal with incoming changes.

Key Pillars of Effective Facility Management Strategy

When creating a facilities management strategy , the following should be prioritized: 

• People: how can you meet the demands of your workers in this space so that they can give their all at work? What do your employees anticipate from this area?
• ‍ Technology: what are the necessary resources to improve efficiency, collect data for better-informed judgments, and organize the space?
• ‍ Building and landscaping: how does the actual location appear and work, with regard to the meeting rooms and workstations included?
• ‍ Methods and procedures: how might one go about implementing facilities management strategy in an organization to properly distribute space and resources?

Why is Facilities Management Strategy So Important?

In virtually every aspect of your company, including marketing, financial planning, product/service development, recruiting, etc., you exhibit a high level of strategic thinking.

Then why not turn your workplace into something you can track, evaluate, and get additional benefits from?

A f acilities management strategy should be implemented by businesses for many reasons, particularly when new methods of working become the norm. 

Hybrid work, for instance, can be accommodated by these groups. Utilizing appropriate facilities management strategies is essential for effectively overseeing on-site collaborative work. All it takes is the correct equipment to keep track of workers' whereabouts and when they clock in. 

• Boosting Your Workplace ROI

Renting or buying office space isn't inexpensive.

You want your investment to be worthwhile, especially in the hybrid workplace when fewer workers are physically present at the office on a daily basis.

A facilities management strategy can be beneficial.

One strategy to make your day-to-day work more relevant to your long-term objectives is to connect your workplace design and use it to a specific company goal or goals. What changes must be made in your workplace to improve the bottom line?

• Improve Workforce Productivity

When your facilities assist or hinder the efficiency of your workforce, it's easy to see how they contribute to your bottom line.

Keep in mind that the term "facilities" encompasses a wide range of components, such as thermostats, light switches, cleaning supplies, the reception desk, property upkeep, electrical testing, and much more.

Workers won't be as productive if they're either too hot or too cold. Warm workplaces are especially bad for productivity, which drops 2-4% for every degree Celsius over 27 degrees.  

Negligible electrical testing can result in serious consequences, including decreased productivity and trust in the area, when gadgets malfunction or become unsafe to use. 

Facilities management strategies, on the other hand, allow you to stay ahead of these problems by ensuring that your employees have the resources they need to thrive.

• Talent Acquisition

Attracting top talent doesn't need a ping-pong table or a slide in your workplace! Still, it must serve their purposes, be comfortable for them, and respect their beliefs and demands.

The pursuit of more diversity, equality, and inclusion makes this a priority. For some new workers, it's important to provide separate, private spaces where they can get some work done. 

To further promote a flat organizational structure, you can opt for a more casual, open-plan layout for your workplace. Office planning and facilities management are complementary processes; thus, you should first determine your facilities maintenance goals and objectives for the Employee Experience before developing a plan.

One other thing you can do to draw in new employees is to run your workplace sustainably.

After all, if given the chance to work for a more environmentally conscious company, 28% of US workers would think about leaving their present positions. Do you provide your facilities manager room to grow into a sustainable and strategic leader?

Of course, your company's flexibility to accommodate remote workers is a major selling point when it comes to attracting top talent. What the epidemic has shown us is that remote work is a huge selling feature, and companies should get on the bandwagon if they don't want to miss out.

How Do You Implement a Strategic Facility Management Plan?

Strategize your facilities management approach. It's a five-step process that takes into account all the people who have a stake in your office, their needs, and how your space can support your facilities maintenance goals and objectives

• Understand. Just think about where you are right now and where you want to be tomorrow.

The first thing to do when adopting strategic facilities management is to make a plan for how you will achieve your goals.

But just as crucial is figuring out how much money you have to put into the change, who has to be on board, and how long the process should take.

• ‍ Analyze. Your facilities management strategy requires an approach to implementation.

Utilize the wide variety of analytical tools and methodologies at your disposal to develop a plan for your operation. If you want to know how to contribute and what may go wrong with your strategy, a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is a good place to start.

Including it in your strategy meetings and brainstorming sessions should make it easy to choose the next steps for the plan.

• ‍ Plan. Building an executable road plan requires using what you've learned in the previous two phases.

Outline the modifications you are making and the reasoning behind them in your plan.

After that, simplydocument the measures you will take to bring the project to fruition. Establish a timeline, define goals, and delegate responsibilities as necessary to ensure the strategy is carried out most efficiently. Think of it as a long-term plan that outlines how you will satisfy the requirements of the business.

• ‍ Act. Everything is set in motion after you have presented the f acilities management strategy and roadmap to top stakeholders and clarified the vision for them.

Just remember to highlight the advantages we discussed before to make your case more persuasive. But the hard work hasn't come to an end yet.

• ‍ Measure. In the long run, how can you tell whether your strategy for managing facilities is paying off?

What measures and benchmarks should be established to track the ongoing impact? Your facilities maintenance goals and objectives will dictate the metrics you use, but they will likely contain financial, cultural, and productivity-related data.

In the long run, the goal of strategic facilities management is to support your company's pursuit of excellence.

What are Your Typical Facility Management's Objectives?

There are a lot of moving parts in the management of facilities , but one of the most important is making sure the people who live or work in the building are safe, comfortable, and satisfied. All sorts of facilities can benefit from meeting the objectives set forth by facility management to achieve these facilities maintenance goals and objectives .

Communication with Stakeholders and Occupants

Managing a property effectively requires constant two-way contact with the building's tenants and other interested parties. Talking to them about their thoughts on the facility and getting their advice on how to make it safer and more comfortable is a great way to get to know them better.

Provide a Safe and Healthy Environment

We can save a lot of lives if we can identify potential hazards to people's health and figure out how to fix or eliminate them.

Because they are a necessary component of any structure, let's take restrooms as an example.

They can be made to feel as comfortable as possible throughout every visit by keeping them clean, smelling good, and providing enough amenities.

Be Mindful of Deficiencies

Over time, some issues might compromise a building's utility systems if not addressed. Inspections performed on a regular basis could reveal construction flaws and prevent more serious issues down the road. Performing these standard inspections every three to six months is the responsibility of the facility manager.

Improve and Endorse Energy Efficiency

It is possible to save money by making the building more energy efficient. The management can find out how much money is being wasted on water, gas, and electricity by reviewing the building's costs for these three things. 

Reduce and avoid more energy waste by investing in energy-saving equipment including energy-efficient light bulbs, upgrading current equipment, and closing up pipe leaks.

Business Continuity Planning

Running some facilities is dependent on machinery that is in good working order. An organization's critical assets and the risks that they face are detailed in a business continuity plan, which functions similarly to a backup plan. 

In addition to that, the f acilities management strategy outlines the potential impact on company operations in the event that the asset were to cease working.

If a company or institution has done its homework and has a solid strategy in place, it can keep running even if something unforeseen happens.

Building the Right Tech Stack To Support FM Initiatives with Xenia!

If you're using FM, your CMMS should make it easy to consolidate all facility management tasks.

You can't call it a comprehensive or integrated approach to facility management (FM) if your CMMS just supports asset management and proactive maintenance and suppliers and inventories need their software that won't interact with your CMMS.

The amount of human labor required to consolidate data across sheets or convert it into forms that the CMMS can read would still be twice as much for your teams. 

The results that FM guarantees would be difficult to get due to the delays, mistakes, and bottlenecks that would ensue.  

Thus, for an O&M ecosystem to be fully integrated, your CMMS should be thorough, adaptable, and user-friendly enough to link with all your current systems.

The following aspects and capabilities should be considered when evaluating CMMS software to implement your FM vision:

• Management of assets : Keep tabs on things like where assets are, what they're up to, and any warranty information with ease.
• ‍ Maintenance management: involves scheduling and tracking maintenance jobs, work orders, labor hours, and materials utilized.
• ‍ Work order management : create, assign, and monitor the progress, priority, and budget of all open work orders.
• ‍ Inventory management: includes keeping tabs on stock levels, where they are stored, and when they are due to expire.
• ‍ Reporting and analytics: Use data analysis and report generation to improve decision-making. Learn more about energy use, asset condition, and maintenance expenses.
• ‍ Collaboration: Coordinate closely with relevant parties across the company, including engineers, managers, and technicians.
• ‍ Optimization of assets: Identifying areas for improvement and making suggestions to optimize performance.
• ‍ Predictive maintenance : involves analyzing past data and current asset conditions to determine the likelihood of maintenance needs.

With a focus on f acility maintenance , Xenia's Connected CMMS allows for intelligent and real-time operations and maintenance through the use of modular solutions for managing facility conditions , assets, inventory, inspections, work orders, services, workplaces, and vendors.

With so many options, how does Xenia's Connected CMMS stand out from the competition?

By integrating people, procedures, and systems, Xenia's Connected CMMS allows you to manage operations on a portfolio scale from a single location with its multi-location capabilities.  

Next Steps 

To ensure your company's success, facility planning is essential.

Before diving into a facilities management plan, consider the needs of your team members to enable peak performance. Guaranteeing the effective execution of your f acilities management strategy requires the right technology and an employee-centric approach.

Successful businesses optimize their workplaces by setting measurable objectives, assessing their current state, staying abreast of emerging workplace trends, and implementing technological solutions. 

These steps naturally lead to increased productivity and efficiency. By taking these actions, your company can prepare for the future of work, characterized by more sustainable and adaptable environments desired by employees.

Interested in implementing these changes in your workplace? Optimize your office space and enhance staff satisfaction with Xenia. 

Try our software for free now!

Unify Team Operations, Maintenance and Safety Compliance with Xenia

Xenia unifies daily operations, maintenance management and quality assurance to help ensure teams and facilities are effective and efficient.

Our customers love Xenia's robust use cases including:

Operational Execution

✔️ checklists & sops.

Create checklists, SOPs, Inspections and Data Logs to power accountability, training and staff clarity on every task.

💪 Team Task Management

Assign work digitally to defeat pencil whipping and disorganized teams. Complete tasks, chat with teams on any device, track time, collect photos, and ensure high quality work.

📆 Recurring Tasks

Create recurring schedules for daily opening and closings, performance review meetings, inspections, cleanings and more.

📲 Chats & Announcements

Centralize team communications with in task chats, one-on-one chats, team messages and company wide announcements

📊 Team Performance Reporting

Use Xenia's analytics dashboards to view staff work reports. Filter by asset, location, category or due date and export the report in PDF or Excel

Maintenance Management

🛠️ work orders.

Create work orders with associated team, asset, location, priority, category and due date. View live progress reports on each work order, chat with teams, and review resulting template submission, images and notes to improve operations.

🧰 Preventive Maintenance

Create a preventive maintenance calendar to ensure asset uptime is not compromised. Attach images, templates, videos and notes to every task and assign to a team or individual for completion.

Generate and attach QR codes to equipment and facility locations to enable fast and accurate inspections and data logs.

⚙️ Work Order Requests

Receive, approve and assign work order requests from tenants, regular customers and vendors. Enable requesters to submit, track, and communicate with your team, without access to operations templates or unrelated work orders.

📁 Equipment Work History

View work history for every asset and sub asset in Xenia. Review performance data and enable corrective actions to improve your operation.

Safety Compliance & Quality Assurance

👍 concrete brand standards.

Put your brand standards in a clear and operational checklist to be attached to work assignments.

🔎 Smart Inspection Workflows

Xenia's operations template builder has built in conditional logic into each step. This allows you to trigger actions based on a form response such as creating a corrective action on a failed inspection step, sending a notification to management for out of range meter readings, and much more.

✨ Corrective Actions

Operationalize inspections with fast work order assignment arising from a failed inspection step. All corrective data is stored in the checklist submission for auditing and accountability.

📋 Analytics and Reports

View live dashboard summaries of tasks, employee performance, template submissions and more. Filter, organize and export compliance reports to PDF and Excel formats to simplify compliance management.

Why use Xenia in your operation?

Xenia is empowering hundreds of teams around the world to elevate their facility operations management. When implemented, Xenia offers benefits such as:

🦾 Reduce Manual Operations

With Xenia, you can schedule recurring tasks and work orders in minutes. Assigned employees will receive notifications and can complete work on their mobile device.

💯 Standardize Processes & Increase Accountability

Build custom checklists, SOPs, inspections, log books, surveys, meeting agendas and more with Xenia. Attach these to tasks and work orders to clarify work and collect crucial data such as photos, notes, time stamps and more.

🤩 Minimize Negative Reviews

Xenia's operations platform increases brand standards and speeds up issue resolution to ensure a positive guest experience. When things do go wrong, Xenia provides a central data suite to identify the root cause and execute intervention plans.

⚡ Speed Up Work Order Resolution Time

Enable any team member to report issues, damage or guest complaints directly on their mobile device. The necessary team will be notified and can resolve the issue immediately.

🏨 Minimize Equipment Downtime

With Xenia's preventive maintenance calendars and work order management, teams can centralize their asset maintenance and ensure every issue is prevented or corrected in short order. This saves teams thousands each year in avoidable repair fees.

🔐 Secure Data Storage

All data in Xenia is securely stored in the cloud for analysis and reporting. We do not delete historical data to ensure that you have a clear view of improvement over time.

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How to write a business plan for an arts facilities management company?

Creating a business plan for an arts facilities management company is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating an arts facilities management company business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for an arts facilities management company?

• What information is needed to create a business plan for an arts facilities management company?
• What goes in the financial forecast for an arts facilities management company?
• What goes in the written part of an arts facilities management company business plan?
• What tool can I use to write my arts facilities management company business plan?

Being clear on the scope and goals of the document will make it easier to understand its structure and content. So before diving into the actual content of the plan, let's have a quick look at the main reasons why you would want to write an arts facilities management company business plan in the first place.

To have a clear roadmap to grow the business

It's rarely business as usual for small businesses. The economy follows cycles where years of growth are followed by recessions, and the business environment is always changing with new technologies, new regulations, new competitors, and new consumer behaviours appearing all the time...

In this context, running a business without a clear roadmap is like driving blindfolded: it's dangerous at best. That's why writing a business plan for an arts facilities management company is essential to create successful and sustainable businesses.

To write an effective business plan, you will need to take stock of where you are (if you are already in business) and where you want the business to go in the next three to five years.

Once you know where you want your arts facilities management company to be, you'll have to identify:

• what resources (human, equipment, and capital) are needed to get there,
• at what pace the business needs to progress to get there in time,
• and what risks you'll face along the way.

Going through this process regularly is beneficial, both for startups and existing companies, as it helps make informed decisions about how best to allocate resources to ensure the long-term success of the business.

To maintain visibility on future cash flows

Businesses can go for years without making a profit, but they go bust as soon as they run out of cash. That's why "cash is king", and maintaining visibility on your arts facilities management company's future cash flows is critical.

How do I do that? That's simple: you need an up-to-date financial forecast.

The good news is that your arts facilities management company business plan already contains a financial forecast (more on that later in this guide), so all you have to do is to keep it up-to-date.

To do this, you need to regularly compare the actual financial performance of your business to what was planned in your financial forecast, and adjust the forecast based on the current trajectory of your business.

Monitoring your arts facilities management company's financial health will enable you to identify potential financial problems (such as an unexpected cash shortfall) early and to put in place corrective measures. It will also allow you to detect and capitalize on potential growth opportunities (higher demand from a given segment of customers for example).

To secure financing

A detailed business plan becomes a crucial tool when seeking financing from banks or investors for your arts facilities management company.

Investing and lending to small businesses are very risky activities given how fragile they are. Therefore, financiers have to take extra precautions before putting their capital at risk.

At a minimum, financiers will want to ensure that you have a clear roadmap and a solid understanding of your future cash flows (like we just explained above). But they will also want to ensure that your business plan fits the risk/reward profile they seek.

This will off-course vary from bank to bank and investor to investor, but as a rule of thumb. Banks will want to see a conservative financial management style (low risk), and they will use the information in your business plan to assess your borrowing capacity — the level of debt they think your business can comfortably handle — and your ability to repay the loan. This evaluation will determine whether they'll provide credit to your arts facilities management company and the terms of the agreement.

Whereas investors will carefully analyze your business plan to gauge the potential return on their investment. Their focus lies on evidence indicating your arts facilities management company's potential for high growth, profitability, and consistent cash flow generation over time.

Now that you recognize the importance of creating a business plan for your arts facilities management company, let's explore what information is required to create a compelling plan.

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Information needed to create a business plan for an arts facilities management company

Drafting an arts facilities management company business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.

Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.

Carrying out market research for an arts facilities management company

Before you begin writing your business plan for an arts facilities management company, conducting market research is a critical step in ensuring precise and realistic financial projections.

Market research grants you valuable insights into your target customer base, competitors, pricing strategies, and other crucial factors that can impact the success of your business.

In the course of this research, you may stumble upon trends that could impact your arts facilities management company.

You may find that more and more people are looking for an efficient and cost-effective way to manage their arts facilities. Additionally, you might discover that customers are increasingly interested in comprehensive services that cover a wide range of arts facility management needs.

Such market trends play a pivotal role in revenue forecasting, as they provide essential data regarding potential customers' spending habits and preferences.

By integrating these findings into your financial projections, you can provide investors with more accurate information, enabling them to make well-informed decisions about investing in your arts facilities management company.

Developing the sales and marketing plan for an arts facilities management company

Budgeting sales and marketing expenses is essential before creating an arts facilities management company business plan.

A comprehensive sales and marketing plan should provide an accurate projection of what actions need to be implemented to acquire and retain customers, how many people are needed to carry out these initiatives, and how much needs to be spent on promotions, advertising, and other aspects.

This helps ensure that the right amount of resources is allocated to these activities in order to hit the sales and growth objectives forecasted in your business plan.

The staffing and capital expenditure requirements of an arts facilities management company

Whether you are starting or expanding an arts facilities management company, it is important to have a clear plan for recruitment and capital expenditures (investment in equipment and real estate) in order to ensure the success of the business.

Both the recruitment and investment plans need to be coherent with the timing and level of growth planned in your forecast, and require appropriate funding.

Staffing costs could include salaries for facility managers, security personnel, maintenance workers and administrative staff. Equipment costs could include items such as computers, printers, and software necessary for operations, cleaning and security supplies, furniture, and tools and materials for repairs and maintenance.

In order to create a realistic financial forecast, you will also need to consider the other operating expenses associated with running the business on a day-to-day basis (insurance, bookkeeping, etc.). 

Once you have all the necessary information to create a business plan for your arts facilities management company, it is time to start creating your financial forecast.

What goes into your arts facilities management company's financial forecast?

The financial forecast of your arts facilities management company will enable you to assess the profitability potential of your business in the coming years and how much capital is required to fund the actions planned in the business plan.

The four key outputs of a financial forecast for a arts facilities management company are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's take a closer look at each of these.

The projected P&L statement

The projected P&L statement for an arts facilities management company shows how much revenue and profits your business is expected to generate in the future.

Ideally, your arts facilities management company's P&L statement should show:

• Healthy growth - above inflation level
• Improving or stable profit margins
• Positive net profit

Expectations will vary based on the stage of your business. A startup will be expected to grow faster than an established arts facilities management company. And similarly, an established company should showcase a higher level of profitability than a new venture.

The projected balance sheet of your arts facilities management company

Your arts facilities management company's forecasted balance sheet enables the reader of your plan to assess your financial structure, working capital, and investment policy.

It is composed of three types of elements: assets, liabilities and equity:

• Assets: represent what the business owns and uses to produce cash flows. It includes resources such as cash, equipment, and accounts receivable (money owed by clients).
• Liabilities: represent funds advanced to the business by lenders and other creditors. It includes items such as accounts payable (money owed to suppliers), taxes due and loans.
• Equity: is the combination of what has been invested by the business owners and the cumulative profits and losses generated by the business to date (which are called retained earnings). Equity is a proxy for the value of the owner's stake in the business.

Your arts facilities management company's balance sheet will usually be analyzed in conjunction with the other financial statements included in your forecast.

Two key points of focus will be:

• Your arts facilities management company's liquidity: does your business have sufficient cash and short-term assets to pay what it owes over the next 12 months?
• And its solvency: does your business have the capacity to repay its debt over the medium-term?

The projected cash flow statement

A cash flow forecast for an arts facilities management company shows how much cash the business is projected to generate or consume.

The cash flow statement is divided into 3 main areas:

• The operating cash flow shows how much cash is generated or consumed by the operations (running the business)
• The investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.)
• The financing cash flow shows how much cash is raised or distributed to investors and lenders

Looking at the cash flow forecast helps you to ensure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

It is also a best practice to include a monthly cash flow statement in the appendices of your arts facilities management company business plan so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The sources and uses table or initial financing plan is a key component of your business plan when starting an arts facilities management company.

It shows where the capital needed to set up the business will come from (sources) and how it will be spent (uses).

This table helps size the investment required to set up the arts facilities management company, and understand how risks will be distributed between the business owners, and the financiers.

The sources and uses table also highlights what the starting cash position will be. This is key for startups as the business needs to have sufficient funding to sustain operations until the break-even point is reached.

Now that you have a clear understanding of what will go into the financial forecast of your arts facilities management company business plan, let's have a look at the written part of the plan.

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The written part of an arts facilities management company business plan

The written part of an arts facilities management company business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Throughout these sections, you will seek to provide the reader with the details and context needed for them to form a view on whether or not your business plan is achievable and your forecast a realistic possibility.

Let's go through the content of each section in more detail!

1. The executive summary

In your arts facilities management company's business plan, the first section is the executive summary — a captivating overview of your plan that aims to pique the reader's interest and leave them eager to learn more about your business.

When crafting the executive summary, start with an introduction to your business, including its name, concept, location, how long it has been running, and what sets it apart. Briefly mention the products and services you plan to offer and your target customer profile.

Following that, provide an overview of the addressable market for your arts facilities management company, current trends, and potential growth opportunities.

Next, include a summary of key financial figures like projected revenues, profits, and cash flows.

Finally, in the "ask" section, detail any funding requirements you may have.

2. The presentation of the company

As you build your arts facilities management company business plan, the second section deserves attention as it delves into the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide valuable insights into the legal structure of the business, the identities of the owners, and their respective investments and ownership stakes. This level of transparency is vital, particularly if you're seeking financing, as it clarifies which legal entity will receive the funds and who holds the reins of the business.

Moving to the location part, you'll offer a comprehensive view of the company's premises and articulate why this specific location is strategic for the business, emphasizing factors like catchment area, accessibility, and nearby amenities.

When describing the location of your arts facilities management company, you could emphasize the potential for growth. The area may be home to many cultural institutions and events, providing a range of opportunities for the company to expand and develop. The local infrastructure may also be well-developed, making it easier for the company to access resources and reach customers. You could also emphasize the potential for access to a diverse talent pool, enabling the company to recruit the best professionals for its mission. Additionally, the area may be home to a vibrant and dynamic arts and culture scene, making it an attractive and desirable place to do business.

Lastly, you should introduce your esteemed management team. Provide a thorough explanation of each member's role, background, and extensive experience.

It's equally important to highlight any past successes the management team has achieved and underscore the duration they've been working together. This information will instil trust in potential lenders or investors, showcasing the strength and expertise of your leadership team and their ability to deliver the business plan.

3. The products and services section

The products and services section of your arts facilities management company business plan should include a detailed description of what your company sells to its customers. 

For example, your arts facilities management company could offer services such as event and facility coordination, equipment rentals, and maintenance and repair services. Event and facility coordination could include helping to plan and manage events, such as concerts and exhibitions, and coordinating the use of the facility. Equipment rentals could help customers to easily access the necessary equipment for their events. Maintenance and repair services could help to ensure that the facility and its equipment are in good working order and safe to use. All of these services could help to ensure that customers are able to make the most of their time and resources in the facility.

The reader will want to understand what makes your arts facilities management company unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

4. The market analysis

When you present your market analysis in your arts facilities management company business plan, it's crucial to include detailed information about customers' demographics and segmentation, target market, competition, barriers to entry, and any relevant regulations.

The main objective of this section is to help the reader understand the size and attractiveness of the market while demonstrating your solid understanding of the industry.

Begin with the demographics and segmentation subsection, providing an overview of the addressable market for your arts facilities management company, the key trends in the marketplace, and introducing different customer segments along with their preferences in terms of purchasing habits and budgets.

Next, focus on your target market, zooming in on the specific customer segments your arts facilities management company aims to serve and explaining how your products and services fulfil their distinct needs.

For example, your target market might include local businesses looking for a reliable and efficient arts facility management company. These businesses might value the ability to outsource a wide range of services, such as event planning, maintenance and security, to a professional organization. They might also appreciate the company's expertise and customer service, which could be customized to meet their needs.

Then proceed to the competition subsection, where you introduce your main competitors and highlight what sets you apart from them.

Finally, conclude your market analysis with an overview of the key regulations applicable to your arts facilities management company.

5. The strategy section

When crafting the strategy section of your business plan for your arts facilities management company, it's important to cover several key aspects, including your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, clearly explain what sets your company apart from competitors. This is particularly critical if you're a startup, as you'll be trying to establish your presence in the marketplace among entrenched players.

The pricing strategy subsection should demonstrate how you aim to maintain profitability while offering competitive prices to your customers.

For the sales & marketing plan, outline how you plan to reach and acquire new customers, as well as retain existing ones through loyalty programs or special offers.

In the milestones subsection, detail what your company has achieved thus far and outline your primary objectives for the coming years by including specific dates for expected progress. This ensures everyone involved has clear expectations.

Lastly, in the risks and mitigants subsection, list the main risks that could potentially impact the execution of your plan. Explain the measures you've taken to minimize these risks. This is vital for investors or lenders to feel confident in supporting your venture - try to proactively address any objection they might have.

Your arts facilities management company could face a variety of risks. For example, it may be exposed to financial risk, such as potential losses caused by a poor investment decision. Additionally, it might be vulnerable to operational risk, such as potential losses caused by a change in personnel or a disruption in the supply chain.

6. The operations section

The operations of your arts facilities management company must be presented in detail in your business plan.

The first thing you should cover in this section is your staffing team, the main roles, and the overall recruitment plan to support the growth expected in your business plan. You should also outline the qualifications and experience necessary to fulfil each role, and how you intend to recruit (using job boards, referrals, or headhunters).

You should then state the operating hours of your arts facilities management company - so that the reader can check the adequacy of your staffing levels - and any plans for varying opening times during peak season. Additionally, the plan should include details on how you will handle customer queries outside of normal operating hours.

The next part of this section should focus on the key assets and IP required to operate your business. If you depend on any licenses or trademarks, physical structures (equipment or property) or lease agreements, these should all go in there.

You could have key assets such as high-end technology and specialized equipment used to manage the arts facility. This may include computer systems, sound systems, lighting systems, and other equipment needed to run the facility. Additionally, the company might have intellectual property in the form of proprietary software applications and processes used to manage the facility. These could be unique and provide a competitive advantage.

Finally, you should include a list of suppliers that you plan to work with and a breakdown of their services and main commercial terms (price, payment terms, contract duration, etc.). Investors are always keen to know if there is a particular reason why you have chosen to work with a specific supplier (higher-quality products or past relationships for example).

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we discussed earlier in this guide.

Now that you have a clear idea of what goes into an arts facilities management company business plan, let's look at some of the tools you can use to create yours efficiently.

What tool should I use to write my arts facilities management company's business plan?

In this section, we will be reviewing the two main solutions for creating an arts facilities management company business plan:

• Using specialized online business plan software,
• Outsourcing the plan to the business plan writer.

Using an online business plan software for your arts facilities management company's business plan

The modern and most efficient way to write an arts facilities management company business plan is to use business plan software .

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

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Hiring a business plan writer to write your arts facilities management company's business plan

Outsourcing your arts facilities management company business plan to a business plan writer can also be a viable option.

Business plan writers are skilled in creating error-free business plans and accurate financial forecasts. Moreover, hiring a consultant can save you valuable time, allowing you to focus on day-to-day business operations.

However, it's essential to be aware that hiring business plan writers will be expensive, as you're not only paying for their time but also the software they use and their profit margin.

Based on experience, you should budget at least £1.5k ($2.0k) excluding tax for a comprehensive business plan, and more if you require changes after initial discussions with lenders or investors.

Also, exercise caution when seeking investment. Investors prefer their funds to be directed towards business growth rather than spent on consulting fees. Therefore, the amount you spend on business plan writing services and other consulting services should be insignificant compared to the amount raised.

Keep in mind that one drawback is that you usually don't own the business plan itself; you only receive the output, while the actual document is saved in the consultant's business planning software. This can make it challenging to update the document without retaining the consultant's services.

For these reasons, carefully consider outsourcing your arts facilities management company business plan to a business plan writer, weighing the advantages and disadvantages of seeking outside assistance.

Why not create your arts facilities management company's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write an arts facilities management company business plan is a terrible idea.

For starters, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is very technical and requires both a strong grasp of accounting principles and solid skills in financial modelling.

As a result, it is unlikely anyone will trust your numbers unless - like us at The Business Plan Shop - you hold a degree in finance and accounting and have significant financial modelling experience in your past.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the 1990s and early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Also, using software makes it easy to compare actuals vs. forecasts and maintain our forecasts up to date to maintain visibility on future cash flows - as we discussed earlier in this guide - whereas this is a pain to do with a spreadsheet.

That's for the forecast, but what about the written part of my arts facilities management company business plan?

This part is less error-prone, but here also software brings tremendous gains in productivity:

• Word processors don't include instructions and examples for each part of your business plan
• Word processors don't update your numbers automatically when they change in your forecast
• Word processors don't handle the formatting for you

Overall, while Word or Excel may be viable options for creating an arts facilities management company business plan for some entrepreneurs, it is by far not the best or most efficient solution.

• A business plan has 2 complementary parts: a financial forecast showcasing the expected growth, profits and cash flows of the business; and a written part which provides the context needed to judge if the forecast is realistic and relevant.
• Having an up-to-date business plan is the only way to keep visibility on your arts facilities management company's future cash flows.
• Using business plan software is the modern way of writing and maintaining business plans.

We hope that this practical guide gave you insights on how to write the business plan for your arts facilities management company. Do not hesitate to get in touch with our team if you still have questions.

Also on The Business Plan Shop

• In-depth business plan structure
• How to write a business plan for a supplier
• How to format a business plan and make it look good?
• How to write the suppliers section of your business plan?
• Key steps to write a business plan?
• Free business plan template

Know someone who owns or wants to start an arts facilities management company? Share this article with them!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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Facility Management Plan for Buildings: A Modern Approach

Matthew Bennett

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Planning is one of the main principles behind running a successful business, so if you want to be on the winning side, you need to start anticipating the requirements and expenses. Otherwise, you’ll end up constantly “putting out fires” here and there, which is not only inefficient—but also can be very costly.

As a facility manager, you should have a detailed and well-thought-out facility management plan for your buildings. It should be made by keeping a strategy for essential asset (typically the expensive ones) maintenance and their service life extension. Establishing and following a facility management strategy can help avoid the unexpected shutdown of these assets and make sure that they are performing at the peak of their ability.

In case if you already have a facility management plan in place, but did you evaluate it recently? When was the last time you have evaluated it? In today’s article, we’ll look at how you can modernize your facility management strategy with the help of CloudApper Facilities for building and facility management to increase the efficiency of operations and maintenance in facility management—and deliver a cost-effective approach to improve bottom-line profitability.

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Traditional Facility Management Planning for Buildings

The facility management strategy for a building of any sizes covers the following three areas at least:

• The maintenance strategy: The facility management plan read the schedule for preventive maintenance of all-important assets like HVAC, fire safety systems, plumbing, and power management systems, as well as lifts and other heavy types of machinery for other equipment within the building. This kind of preventive maintenance plan minimizes the risk of unexpected system failures that can disrupt production—or worse, pose safety hazards to the workforce.
• Emergency plans: A facility management plan should also have mention of emergency management procedures to follow in the event of a system failure. Even with the most well-planned strategy in place, sometimes unexpected events occur; having an emergency plan in place is essential for these situations to minimize production downtime and ensure the safety and comfort of your workforce.
• Budgeting: The facility management strategy should also include a monetary plan for the maintenance needs and repair of equipment, and spare parts. Every piece of mechanical equipment has an estimated lifetime that is influenced by its maintenance pattern and workload; Facility managers should track that life span, and plan to utilize it for the most possible period. If a piece of equipment has an estimated lifetime of 20 years, a replacement fund should be allocated annually starting from its first year of operation in order to avoid budgetary issues at the end of its lifetime or last year of service.

The points we have discussed up to this point are mostly facility maintenance and traditional predicament planning and budgeting related. These are mostly exercised to minimize unexpected failures and manage building assets. In modern times, facility managers have started adopting more proactive strategies like predictive maintenance with regard to facility management using CloudApper Facilities.

A Modern Approach to Facility Management

Predictive maintenance is a proactive strategy that uses historical building and maintenance data analytics for effective decision-making with regard to facility management. It empowers building managers to design a facility management strategy that relies less on pre-planned manufacturer guidelines for maintenance and more on live operational performance data of machines and equipment. This results in gaining a better understanding of the condition of your assets, better prediction of issues and failures, and effective budgeting for future needs.

A modernized facility management approach looks more like this:

• Maintenance strategy: Compared to the preventive model, instead of following the equipment manufacturer guidelines for maintenance, a predictive maintenance approach uses CloudApper Facilities recent and historical data to monitor them. It provides real-time data about changes in power usage, temperature, vibration, and other parameters, so facility managers can verify all machinery is operating within usual ranges and give priority to those areas where they find any sign of an anomaly. This approach helps to create a more effective maintenance routine and ensures better use of resources and time.
• Emergency management: Rather than just relying on traditional preventive maintenance for noticing any major issues with machines and equipment, real-time data monitoring can point out when a particular piece of equipment is not operating normally and about to fail. This way you can address unexpected emergencies even before they take place. With the help of the CloudApper Facilities App, maintenance staff can enter and access machine data about your machine and equipment that can be compared and changes identified. Eventually, this data helps to avoid unexpected downtime and having to put costly contingency plans into action.
• Budgeting: To make the traditional method of budgeting more effective and realistic, CloudApper Facilities data provides additional information that allows decision-makers to more accurately design a budget for future facility management needs. Additionally, early identification of technical malfunctions can help you optimize the lifespan of your expensive equipment.

Ready to upgrade your facility operations for your building?

If you’re ready to start gathering real-time facility data as part of your new facility management strategy, checkout CloudApper Facilities now! We can help your company collect and analyze all the important facility information needed to predict and prevent unexpected failures before they happen.

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Facility Management Company Marketing Plan Template

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When it comes to marketing your facility management company, having a well-crafted plan is essential. With ClickUp's Facility Management Company Marketing Plan Template, you can easily create a comprehensive roadmap for success.

This template will help you:

• Conduct in-depth market research to understand your target audience and competitors
• Develop a strong brand positioning strategy to differentiate yourself in the market
• Implement effective lead generation tactics to attract potential clients
• Create a customer acquisition and retention plan to build long-lasting relationships
• Utilize the right communication channels to create awareness and highlight the benefits of your facility management solutions

Take your facility management company's marketing efforts to the next level with ClickUp's Marketing Plan Template. Start planning your path to success today!

Benefits of Facility Management Company Marketing Plan Template

A well-crafted Facility Management Company Marketing Plan Template can provide numerous benefits for your facility management business. Here are just a few:

• Streamlining your marketing efforts and ensuring consistency across all channels
• Helping you identify and target your ideal clients more effectively
• Providing a roadmap for market research and analysis to make informed decisions
• Outlining strategies to establish a strong brand positioning and differentiate from competitors
• Guiding you in generating leads and converting them into paying customers
• Enhancing customer acquisition and retention through effective communication channels
• Creating awareness and showcasing the benefits of your facility management solutions
• Maximizing your marketing budget and optimizing ROI for your marketing activities

With a comprehensive marketing plan template, your facility management company can thrive and attract the right clients to support your business growth.

Main Elements of Facility Management Company Marketing Plan Template

ClickUp's Facility Management Company Marketing Plan template provides a comprehensive solution for organizing your marketing efforts.

Here are the main elements of this template:

• Custom Statuses: Keep track of the progress of your marketing tasks with 6 different statuses, including Cancelled, Complete, In Progress, Needs Input, Planned, and To Do.
• Custom Fields: Utilize 6 custom fields such as Quarter, Task Type, Impact, Progress, Percent Completion, and Effort to capture important information about each task and ensure accurate reporting.
• Custom Views: Access 5 different views tailored to your specific needs, including Key Results to track and measure your marketing objectives, Timeline to visualize project deadlines, Getting Started Guide for onboarding new team members, Objectives to define and monitor your marketing goals, and Progress Board to gain a holistic view of your team's progress.
• Project Management: Leverage ClickUp's powerful features such as time tracking, task dependencies, and integrations to streamline your marketing processes and maximize efficiency.

How to Use Marketing Plan for Facility Management Company

If you're looking to create a successful marketing plan for your facility management company, look no further! Follow these five steps to effectively use the Facility Management Company Marketing Plan Template in ClickUp:

1. Define your target audience

To start, identify and define your target audience. Who are your ideal customers? What industries do you serve? Understanding your target audience will help you tailor your marketing efforts to their specific needs and preferences.

Use custom fields in ClickUp to categorize and segment your target audience based on factors such as industry, company size, and location.

2. Set clear marketing objectives

Next, establish clear and measurable marketing objectives. What do you want to achieve with your marketing efforts? Whether it's increasing brand awareness, generating leads, or driving conversions, clearly define your goals to guide your marketing strategy.

Create tasks in ClickUp to outline each marketing objective and set deadlines for achieving them.

3. Develop a comprehensive marketing strategy

Now that you have your objectives in place, it's time to develop a comprehensive marketing strategy. Determine the key tactics and channels you'll use to reach your target audience, such as digital advertising, content marketing, social media, or email campaigns.

Utilize the Board view in ClickUp to create a visual representation of your marketing strategy, with each tactic represented as a card that can be easily moved and prioritized.

4. Implement and track your marketing activities

Once your marketing strategy is defined, it's time to put it into action. Implement each marketing activity outlined in your plan, ensuring that you allocate resources and budget accordingly. Be consistent in your messaging and branding across all channels to maintain a strong and cohesive presence.

Use Automations in ClickUp to streamline your marketing activities, such as automatically sending out email campaigns or scheduling social media posts.

5. Monitor, analyze, and optimize

Finally, regularly monitor and analyze the performance of your marketing activities. Track key metrics such as website traffic, lead generation, conversion rates, and customer feedback. Identify what's working well and what can be improved, and make data-driven optimizations to continuously enhance your marketing efforts.

Utilize Dashboards in ClickUp to create visual reports and track key marketing metrics in real-time, making it easy to identify trends and areas for improvement.

By following these five steps and utilizing the Facility Management Company Marketing Plan Template in ClickUp, you'll be well-equipped to create and execute a successful marketing plan that drives growth and success for your facility management company.

Get Started with ClickUp’s Facility Management Company Marketing Plan Template

Facility management companies can use this Marketing Plan Template to effectively promote their services and attract potential clients while building strong relationships with existing clients.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive marketing plan:

• Use the Key Results View to track the progress of your marketing objectives and measure success
• The Timeline View will help you visualize your marketing activities and plan them accordingly
• Refer to the Getting Started Guide View to understand the template's structure and fill in the necessary details
• Use the Objectives View to define your marketing goals and outline strategies to achieve them
• The Progress Board View will allow you to track the status of each marketing task and ensure timely completion
• Organize tasks into six different statuses: Cancelled, Complete, In Progress, Needs Input, Planned, To Do, to keep track of progress
• Update statuses as you progress through tasks to keep team members informed of progress
• Monitor and analyze tasks to ensure maximum productivity and achieve marketing success.

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Facilities management helps ensure the functionality, comfort, safety and efficiency of buildings and grounds, infrastructure and real estate.

Facilities management includes:

• Lease management, including lease administration and accounting
• Capital project planning and management 
• Maintenance and operations
• Energy management
• Occupancy and space management 
• Employee and occupant experience 
• Emergency management and business continuity
• Real estate management

Types of facilities management:  There are two basic areas: Hard facilities management (Hard FM) and soft facilities management (Soft FM). 

• Hard FM deals with physical assets such as plumbing, wiring, elevators and heating and cooling.
• Soft FM focuses on tasks performed by people such as custodial services, lease accounting, catering, security and groundskeeping.

This guide summarizes what sustainability-forward organizations look for in their ESG software platform to help achieve their goals.

Register for the guide on sustainability trends

For people to do their best work and feel engaged in their environments, they need to be in buildings that are safe, welcoming and efficient. Facilities management has a hand in everything that surrounds the people in facilities and on the grounds. Where they work, play, learn and live should be comfortable, productive and sustainable.

Superior facilities management will contribute to your organization’s bottom line, impacting the short-and long-term value of property, buildings and equipment. Your efforts can be crucial to:

• Space optimization
• Guiding capital projects
• Energy management and maintenance
• Lease accounting
• Workplace experience

People spend 87% of their time in buildings. See how to improve your operations to make their lives more comfortable and maximize efficiencies.

In its first worldwide integrated workplace management system (IWMS) MarketScape report, market research firm IDC highlights TRIRIGA for its innovation, flexibility, functionality and industry expertise.

Real estate is the second-highest cost for an organization and effective space management can result in cost savings up to 30%. ¹

The average capital project is 80% over budget and 20 months behind schedule, but adopting capital project management technology can lead to up to a 45% reduction in overall project costs. ²

Companies that rank high in employee engagement have 59% less turnover, 17% more productivity and 41% less absenteeism. 3

A smart building with integrated systems can realize 30–50% savings in existing buildings that are otherwise inefficient. 4

The technology in facilities management includes both software and systems. Vast amounts of data are generated by built environments through Internet of Things (IoT) sensors, wifi, meters, gauges and smart devices.

The most effective solutions enable facilities management departments to make good use of this data by infusing analytics and artificial intelligence (AI) into an integrated workplace management system (IWMS). These technologies deliver cognitive capabilities that make computer-aided facilities management possible—so you can analyze and learn from data, enabling you to achieve real-time visibility, perform predictive facilities maintenance and create more productive, cost-efficient environments.

Across numerous industries and company sizes, facilities managers have a wide range of important day-to-day responsibilities. These managers need to both plan ahead and also be ready for various tasks within any given day. While the manager’s responsibilities often include:

• real estate management
• capital projects and planning
• occupancy and space management 
• lease administration and accounting
• workplace experience

There are also ways to improve the performance of each responsibility that will fill the manager's schedule:

• deliver operational efficiencies
• create an environment conducive to productivity
• find and adopt technological solutions 
• guarantee regulatory compliance
• minimize risks to facilities and employees
• reduce energy consumption costs
• reduce the carbon footprint of the real estate portfolio

As many enterprises return to their offices, the workplace ideally becomes a destination where employees want to gather and collaborate—connecting safely with each other.

The new workspace in the post-pandemic world must to satisfy even more needs. Does productivity mean keeping face-to-face working or saving employees commuting time? Have a look at the advantages and challenges of building a hybrid workspace model.

Give employees a better workplace experience. “A great place to work” is being redefined by COVID-19, employee expectations and technology. That experience can still mean the difference between engaged, productive employees and a company facing turnover and even more disruption. Learn how to create that new experience .

See how ISS is transforming the facilities management of more than 25,000 buildings worldwide using TRIRIGA. Specific facilities management examples show the value of IoT as buildings and environments become more personalized, intuitive and easy to use.

With the onset of COVID-19, GRE was able to move 95% of IBM’s global employees from the office to home by using our own solutions. Now we’re preparing for the move back to the office, with the ability to monitor adherence to pandemic-related protocols and to verify health credentials.

Learn how an integrated workplace management system (IWMS) can increase the operational, financial and environmental performance of facilities and real estate.

Use data to make better-informed and data-driven decisions for intelligent real estate and facilities management.

Get intelligent asset management, monitoring, predictive maintenance and reliability in a single platform.

Read how as artificial intelligence gets integrated with building management systems and IoT devices, it has the potential to improve occupant experience, increase operational efficiency and optimize space management and asset utilization.

Explore how the workplace as a destination is changing the way facilities managers are optimizing space for safety, productivity and improved experiences.

Data and AI are increasingly critical tools in how organizations are evolving their facilities management. Simple, fast and flexible, IBM TRIRIGA is an integrated workplace management system that has the right mix of applications in one modular solution to maximize your building lifecycle while preparing you to meet future needs.

¹  Research and Markets  (link resides outside ibm.com)

²  McKinsey & Company  (link resides outside ibm.com)

³  Gallup  (link resides outside ibm.com)

⁴  American Council for an Energy-Efficient Economy  (link resides outside ibm.com)

Six emerging trends in facilities management sourcing

For companies with distributed operations—retailers, manufacturers, transportation and logistics—facilities management can represent 10 to 25 percent of total indirect spending. Several recent developments, including fears of a recession, trade conflicts, tech disruption, and rising wages, have made cost cutting a higher priority in this area. But business leaders must strike a tricky balance to reduce non-core costs without affecting the performance of core operations.

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Companies have no shortage of options at their disposal to optimize facilities management expenditures. Outsourcing is a well-established strategy that’s on the rise thanks to an influx of vendors, while integrated approaches to facilities management, workplace strategy, and technology all hold promise. The global market for in-house and outsourced facilities management is estimated to reach $1.9 trillion by 2024. The outsourced segment accounts for more than half the total and has attracted a growing number of vendors with new service offerings. Still, charting a clear path forward—one that enables companies to extract the most value—is an increasingly complex task.

How should companies proceed? As a first step, executives must familiarize themselves with how six emerging trends could reduce facilities management costs and improve productivity. The first three involve the application of existing strategies and approaches; the second three involve using technology to transform the way companies complete tasks. However, these trends aren’t plug and play; companies must have the right strategy and capabilities to get the most from them. Facilities management and sourcing leaders should focus on several immediate steps to mobilize their organization and pursue these trends.

The evolution of facilities management strategy

When facing ongoing pressure to reduce operating costs, companies tends to look for savings without giving much thought to the long-term repercussions. This dynamic makes facilities management a particularly ripe target. During challenging economic times, companies trim facilities management budgets; once the outlook rebounds, spending levels often remain low. This pattern can lead to deteriorating conditions of buildings and equipment, potentially costing more in the long run.

Over the years, industries have accepted outsourcing as a viable option to non-core operations, including facilities management. Companies typically follow a progression that begins with outsourcing noncore activities at individual locations (Exhibit 1). The consolidation, standardization, and bundling of these tasks across facilities over time results in the outsourcing of a comprehensive set of noncore services and management to third parties.

Several economic factors have made outsourcing more relevant for facilities management. Growth is slowing across several large countries as they reach the tail end of current economic cycle. Far-reaching global trade conflicts have created unexpected changes in commodity and finished product prices. Meanwhile, increased tech disruptions in a handful of industries are pushing legacy companies to free up cash for technology investments. Last, lower unemployment rates are pushing wage rates higher for the best talent. Thanks to these developments, the total market for facilities management (both in-house and outsourced) is expected to grow at more than 6 percent a year from 2018 to 2024, hitting nearly $1.9 trillion (Exhibit 2).

Facilities management is ripe for disruption: it lags behind other functions such as production equipment maintenance by both digital maturity and penetration of technology. Although technology is available for facilities management, several obstacles have inhibited adoption, such as a lack of digital skills within the function, other priorities for leadership, and a focus on continuous cost cutting. These factors have made the facilities management outsourcing market attractive for leading vendors that were already engaged directly or indirectly with this function. Several incumbents have developed an integrated facilities management offering in an effort to capture a greater market share.

Six emerging trends

We have identified six trends that offer cost savings or productivity improvement opportunities now or could transform facilities management over the next decade. Since the attractiveness of each trend will depend on an organization’s needs and capabilities, the trends are presented in a manner to facilitate evaluation and comparison.

1. Outsourcing facilities management

Organizations are evaluating their operating model to maximize value creation. Before they outsource facility management to third parties, however, they review the appropriate mix of insourcing and outsourcing based on capability, cost, and coverage. Several factors are altering the equation.

Case example

One large retailer was seeking to prioritize tasks that could be handled more cost-effectively by a third-party vendor. Its team compiled a list of categories that should be kept in-house as well as those to outsource. In-house categories were determined based on which ones could be handled through a shared-services model with high utilization of internal labor. Outsourced categories were defined by current specifications and, separately, by the essential level of service for the organization. It put out an RFP for the outsourced categories with two types of specifications and then selected suppliers that best matched the retailer’s needs. This approach reduced facilities management spending by 15 percent, which was reallocated to support the organization’s investment strategy.

• Growth in outsourcing. Outsourcing has now surpassed 50 percent of the total facilities management market in several regions, including Europe, Middle East, and North America.
• Industry-based adoption. In manufacturing companies, soft services such as landscaping and janitorial are preferred categories for outsourcing. Hard services such as utility equipment maintenance are typically still insourced. Meanwhile, retail, banking, and other non-manufacturing industries are looking to first optimize their operating model by balancing insourcing and outsourcing. If the benefits they achieved are not significant, some players in these industries have opted to fully outsource facility management.
• Penetration of integrated facility management (IFM). IFMs are capturing increased market share in outsourcing, particularly in North America, where IFMs are close to 20 percent of the outsourced category.

Implications

• Cost: Is your operating model optimized and peers still have better cost performance?
• Competitive advantage: Does facilities management provide a competitive advantage over peers?
• Organizational capability: Does the company have experienced personnel in facilities management with intrinsic knowledge of the location as well as highly efficient internal technicians that would be challenging for a third party to match?

2. Integrated value and related services

Companies are exploring the integration of facilities management and related services in an effort to streamline management and improve performance. This offering can include the following functions:

A global financial institution was spending $450 million annually to maintain its thousands of locations around the world. Its fragmented supplier base included more than 10,000 vendors across about a dozen categories. To assess opportunities for outsourcing, the institution undertook a scoping and prioritization exercise, sought to gain greater transparency into spending categories, applied advanced sourcing techniques, and invested in stakeholder management. With the insights gained from this process, the company was able to consolidate its facilities management spending from dozens of suppliers to just one vendor, while standardizing business processes and service quality. Adopting integrated facilities management helped reduce costs by more than $150 million over three years.

• Real estate. This category includes all services related to transaction management, project management, and other services.
• Facilities management. All of the tasks that are involved in maintaining a facility, such as equipment maintenance and building services.
• Energy management. Activities focus on the conservation of energy, including retrofits and procedural changes.
• Production maintenance. The maintenance of production equipment comprises areas such as assembly stations, process equipment, and testing stations.
• Employee services. Services for employees could include mailroom, fitness center, and cafeteria and food service.
• Decision making is easier, as fewer people are involved.
• A comprehensive view of all services with fewer providers eases the management of these categories.
• Suppliers that provide integrated services can become strategic partners for organizations.

Factors to evaluate if the organization should pursue an arrangement with an outsourcing integrator:

• Cost: Are costs higher than benchmarks for peers?
• Geographic portfolio: Does the company have a diverse geographic footprint?
• Property portfolio: Is the property portfolio diverse?
• Organizational capability: Does the real estate function have limited capacity or capability?

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3. workplace strategy.

Workplace strategy is becoming a key tool to enhance employee engagement and retention. It includes several different categories:

One energy company sought to trim its real estate costs while implementing workplace strategies that would maximize its use of space and accommodate evolving employee needs. It pursued a range of densification initiatives, including doubling up offices for employees of specific positions, converting excess conference rooms to offices, and reducing office sizes for certain functions, such as accounting or reception. It also created “hoteling” zones, where employees could secure workspaces on an as-needed basis.

Through these approaches, it increased the number of available seats by nearly 60 percent without expanding its footprint. As important, an internal survey found that employees viewed this reconfiguration favorably.

• Modular workspace. Workspaces can become more modular and activity-based to increase agility and flexibility with changing workforce while decreasing total square footage.
• Coworking. Coworking provides flexibility in selecting the type of space and period of occupancy, which can offer cost savings.
• Lifestyle amenities. Lifestyle amenities such as yoga, meditation, daycare, recreation rooms, and nap areas have become common features to enhance employee experience.
• Wellness designs. Companies can invest in workspaces with appealing acoustics, lighting, furniture, and flooring, among other features.

Together, these categories form options along the continuums of space and well-being (Exhibit 3).

Notably, trends in this category can increase facilities management costs (for companies that choose to invest more in workspace design), but they could also indirectly compensate for these outlays with higher employee productivity.

• When considering workforce strategies, companies need to balance employee engagement and workplace investment.
• Organizations are increasingly looking for suppliers that are capable of maintaining an evolving workplace.

Factors to help organizations determine if revamping the workplace is right for them:

• Geographic portfolio: Is the geographic portfolio of facilities fragmented and consistently changing with customer location?
• Employee productivity: Is current employee productivity lower than peer benchmarked levels, and would wellness design and lifestyle amenities have an impact?

4. Internet of Things (IoT) evolution

A number of trends and developments are spurring the adoption of IoT-enabled equipment by facilities management across a range of applications.

A mining company sought to increase rig uptime and reduce maintenance spending, which accounted for 25 percent of operating expenses. An analysis determined that top drive and pipe handling accounted for 40 percent of all downtime and 10 percent of all maintenance spending. It then conducted a thorough “digital teardown” to estimate specific opportunities in predictive maintenance for each component. To support a predictive maintenance deployment, the company focused on five building blocks:

• Capabilities
• Organization
• Processes and procedures

Its efforts paid off handsomely: the company created an end-to-end system with real-time data collection, storage, and processing to enable predictive maintenance. These capabilities enabled it to reduce maintenance spending by 27 percent while increasing revenue from services thanks to higher reliability.

• Energy efficiency. The implementation of IoT devices, such as motion sensors for lights and automated temperature controls, enabling more visibility into energy usage and management.
• Occupant experience. This factor could be a contributor to the adoption of IoT.
• Computing. Data transmission costs are determining whether edge, cloud, or hybrid computing approach will prevail.
• Stack ownership. Companies are trying to own multiple layers of IoT stack. Hardware infrastructure and/or software are emerging as preferred ownership models.
• IoT security. Security is lagging behind the development of IoT devices and platforms.
• Companies have to upgrade or retrofit legacy systems before facilities can benefit from IoT.
• Lingering skepticism about IoT’s impact means that organizations will have to develop multiple use cases to demonstrate the impact of these technologies on occupant experience.
• Companies should consider partnering with suppliers that have an end-to-end IoT vision and the capabilities required to convert this vision into reality.

Executives should consider the following factors to determine if now is the right time to adopt IoT for facilities management:

• Cost: Is the cost of IoT conversion in facilities comparable to current expense of maintenance and operations?
• Change champion: Do IoT initiatives have C-level sponsors beyond the CIO?
• Device compatibility: Can systems be retrofitted with IoT technology ?
• System compatibility: Is the building management system (BMS) capable of integrating with devices and software? Does the organization have the data management and security capabilities necessary to support IoT-equipped devices?

5. Advent of robots

Robotic automation is well suited to take over repetitive and hazardous tasks. Thus far, Asian and European companies are leading in adoption of robotics for services such as cleaning and security; widespread adoption could occur within the next decade.

Leading companies are in the process of integrating robotics into their facilities management operations for tasks such as floor cleaning, window washing, and power washing. Innovations in early stages of development include robots for security patrol, lawn mowing, and snow removal, among other tasks. The promise of such robots is threefold: beyond the opportunity to reduce operating expenses, these machines could free up existing staff to focus on higher-value activities while mitigating some of the risk associated with these tasks.

• Repetitive tasks. Activities that follow the same process every time, such as sweeping a floor, are prime opportunities to integrate robots into operations. Several companies are currently designing and building robots to automate repetitive tasks such as power washing and lawn mowing.
• Hazardous tasks. The use of robots for certain jobs—for example, security patrol or HVAC duct cleaning—could enable companies to reduce costs and risk.
• Applications of robotic process automation are still in the early stages for facilities management.
• Repetitive and hazardous facility management tasks are prime for disruption by robots.
• Organizations can pilot robots for repetitive tasks or partner with suppliers that have expertise in the deployment and maintenance of robots.

Factors to evaluate if now is the right time to invest in robotic automation:

• Cost: Is the cost of owning or leasing a robot less than current costs?
• Market support: Has a service supply chain for the equipment been established?
• Effectiveness: Is the quality of work similar or better than current processes?
• Technology maturity: Will current technology change dramatically in the short term?

6. Augmented reality

Technology players are developing end-to-end AR solutions that have the potential to transform facilities management.

Companies are experimenting with various applications of AR to support workers in selected tasks. A remote assisted maintenance toolkit, for example, includes endoscopic and thermal cameras, a microphone, and a portable computer. With these tools, the equipment operator can connect remotely to an expert, who can guide him through the maintenance procedure. AR maintenance also offers operators support through an integrated helmet with special glasses and software that details proper maintenance procedures.

• Hardware. Smartphones and tablets are dominant in the hardware market, while wearables are still in low levels of market penetration.
• Content source. Information is limited to content pulled from maintenance manuals and through user interaction. Content sources from IoT-based devices are also in the early stages and would ideally be enhanced further by data collected from IoT sensors.
• Interaction. Information can be visual, instructive, or interactive. Technologies are developing across all areas, but visualization is currently the most mature.
• Mapping. While mapping is still limited to spatial tracking, marker-based and shape imposition technologies are being developed.
• Software development kit. SDKs are well developed for consumer applications such as gaming but are still in the early stages for facility management applications.
• Augmented reality is still in the early stages of development for facilities management.
• Organizations would have to coordinate across several functions to use AR effectively.
• Companies should work with partners that are actively engaged with AR providers and pilot technology when market is ready with a solution.

Factors to evaluate if now is the right time to implement AR

• Market support. Has the service supply chain of hardware, software, and content been established?
• IT infrastructure: Has IT infrastructure been developed to support AR on a few controlled applications?
• ROI: Does technology have a good ROI when considering technician time, number of visits, safety, and ease of process use?
• Workforce skill level: Is the current workforce sufficiently technology savvy?

Revolutionizing indirect procurement for the 2020s

Actions companies can take now.

Facilities management leaders can’t simply flip a switch to harness these trends. Some companies will need to adjust their strategy, organizational capabilities, and culture. And considering that a few of these trends are still in their infancy, executives should focus on laying the foundation. Several actions can help.

Elevate facilities management to a C-level priority (with a focus on COO/CFO engagement).

Many industries have traditionally kept facilities management on the backburner, but this category can be a goldmine of savings. One company, for example, was under pressure to reduce costs, but the procurement team was skeptical of addressing facilities management because of sensitivities within the organization. The indirect procurement team asked for support from CPO and COO to back a transformation of facilities management, and this support created an actionable pipeline of savings for the next three years.

Establish a cross-functional team.

True cross-functional collaboration between procurement and operations is required to create sustainable impact. Companies should form a team that includes the COO, CIO, a facilities management leader, a strategic sourcing leader (for facilities management or innovation), and a project management office leader, among others. Without alignment, facility management initiatives face a difficult path. One company’s procurement team identified savings during the RFP process and moved to adopt integrated facilities management, but some stakeholders were not on board. During implementation, an operations team found that the prescribed specifications were not aligned with its equipment. Within a few months, the IFM contract was nullified after some heated conversations between procurement and operations. In another company, procurement leaders were adamant about pursuing IFM. Although it was the right strategy, they first sought to gain alignment and support from the operations team before the process kicked off.

Assess the organizational maturity and capabilities needed to manage vendors and support digital technologies.

Capabilities, both from a relationship and content standpoint, are important. Vendor relationships can be built by acting on stakeholder satisfaction surveys, organizing joint meetings with suppliers, and managing supplier performance as a team. Organizations can develop content-based capabilities by introducing supplier-led training on digital technologies and investing in external expert trainings. For instance, a client set up a meeting cadence between suppliers and stakeholders to identify and address issues every quarter.

Build the business case for investment in selected trends.

Companies can support the adoption of emerging technologies by doing controlled pilots. Projects that apply augmented reality to simple tasks and experiment with IoT can get the organization acclimated to technology. Successful pilots can provide the business case for scaling; a similar rationale can be used for opportunities to integrate robots. The hotel industry, for example, is adopting robots for bell service and housekeeping through pilots in certain hotels.

Partner with IFMs and set up a robust governance mechanism.

A company can view IFM suppliers as a partner to achieve savings and manage portfolio, but it must first establish a robust governance mechanism to maintain trust with suppliers. A regular auditing cadence can ensure that any savings are contributing to the bottom line. In addition, companies should make decisions collaboratively with IFMs on topics such as specification standardization and computerized maintenance management system (CMMS) technology. At one manufacturer, a factory manager set up a regular auditing cadence to review IFM initiatives with the finance team to ensure that savings flowed to the bottom line.

Design an implementation road map.

Companies should develop a comprehensive, long-term category strategy to incorporate all facilities management trends. A sequencing exercise can help companies to prioritize initiatives. Since technologies will continue to evolve, facilities management leaders should establish a regular strategy review process of all categories to refine and hone their vision.

Traditionally overlooked, facilities management is on the cusp of disruption. Companies that track emerging trends and invest in the right organizational capabilities will be well positioned to reduce costs and increase the impact of their facilities management spending.

Sourav Das Adhikari is a knowledge expert, Steve Hoffman is a partner, and Britta Lietke is a senior knowledge expert in McKinsey’s Chicago office.

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Steps in Building a Business Continuity Strategy in Facility Management

Put on your risk goggles, crunch the numbers and reveal the true impact of disruptions, perfect your evacuation skills, identify your key allies, restore critical functions to bounce back, don’t leave any vulnerabilities unchecked, train like there's no tomorrow, spot threats before they strike, keep your plan supercharged, promote a culture of preparedness.

Ever had that sinking feeling when you realize your facility’s critical systems can fail, leaving you in a state of panic? Or that knot of anxiety that tightens when you discover a major equipment malfunction that brings operations to a grinding halt?

It’s like being in a high-speed car chase, but you’re driving with a blindfold on. You’re determined to keep your facility running smoothly, but all the while, you anticipate the looming disaster around the next corner.

But it doesn’t have to be that way. That’s where a business continuity strategy comes into play.

It’s your lifeline during times of crisis, outlining the procedures and guidelines you need to follow to keep your organization afloat.

But here’s the thing: many facility managers underestimate the importance of having a solid strategy in place.

You might think, “I can handle it when the time comes. I’ll deal with it on the fly.”

But that’s a risky mindset. Without a well-thought-out facilities business continuity plan, you’re putting your staff, resources, and even profitability at stake.

In this article, we’ll delve into the next-gen steps in building a business continuity strategy in facility management, exploring best practices, key considerations, and real-world examples.

Imagine you’re managing a corporate office building. You need to consider various risks such as fire hazards, power outages, natural disasters, or even cybersecurity threats.

Each of these risks has the potential to disrupt your facility and affect business operations. By conducting a comprehensive risk assessment, you can identify these potential risks and their potential impact on facility management.

Once you’ve identified the risks, it’s time to put on your detective hat and uncover the critical functions that are essential for your facility’s smooth operation. These critical functions can vary depending on the nature of your facility, but they often include security, HVAC systems, electrical infrastructure, and communication networks.

Prioritizing the continuity of these functions ensures that even in the face of disruptions, your facility can continue to operate efficiently.

For example, if a power outage occurs, identifying the critical function of electrical infrastructure will prompt you to have backup generators or alternative power sources in place to keep the lights on and essential systems running. Similarly, understanding the potential impact of a cybersecurity threat will lead you to prioritize the continuity of your facility’s data security measures.

Understanding the potential impact of disruptions is crucial for building a robust business continuity strategy.

That’s where the Business Impact Analysis (BIA) swoops in to save the day.

Think of it as your trusty sidekick, helping you crunch the numbers and reveal the true impact of disruptions.

First, you embark on a thorough analysis of your facility’s operations and processes. You leave no stone unturned, examining every nook and cranny to identify the critical functions that keep your facility running smoothly.

Whether it’s HVAC systems, security protocols, or maintenance procedures, you assess their significance and prioritize their continuity.

But it doesn’t stop there. The BIA dives into the financial and operational implications of potential disruptions. You put on your detective hat, investigating the potential consequences of a power outage, a cyber attack, or even a natural disaster. By quantifying the impact in terms of downtime, revenue loss, and customer satisfaction, you gain a clear understanding of the risks at hand.

Furthermore, the BIA uncovers the intricate web of dependencies and interdependencies within your facility. It reveals the domino effect that disruptions can trigger, highlighting the interconnectivity between various systems, departments, and stakeholders. For example, a failure in the electrical infrastructure can disrupt not only lighting and equipment but also impact security systems and employee productivity.

When unforeseen disasters hit, you want to be the expert who swiftly guides everyone to safety, creating a sense of security and preparedness.

Your emergency response plan is the ultimate playbook for handling various situations, from evacuation to sheltering and even lockdown scenarios. It’s like having a superhero team ready to leap into action, ensuring the safety and well-being of everyone within your facility.

For example, imagine a facility manager responsible for a large office building. He creates a comprehensive Emergency Response Plan that outlines the evacuation routes, designated assembly points, and roles for each team member during emergencies. They also set up communication channels, ensuring quick and efficient dissemination of critical information.

When an unexpected fire breaks out on one of the floors, His well-prepared response plan springs into action. Employees follow the clear evacuation procedures, emergency response teams act promptly, and communication channels keep everyone informed about the situation. Thanks to the well-rehearsed plan, everyone safely evacuates the building, and the fire is quickly brought under control.

By developing a top-notch emergency response plan, facility managers like you can instill confidence, protect lives, and safeguard the continuity of business operations, making them the real heroes in the world of Facility Management.

Key allies could include facility staff, tenants, vendors, local authorities, and emergency services. By involving them in the crisis communication plan, you create a united front to tackle any emergency head-on.

For instance, imagine a scenario where a major water pipe bursts in a commercial building, flooding several floors.

In this case, your key allies might include facility staff to coordinate immediate evacuations and shut off water supplies, tenants to inform them about the situation and safety measures, vendors to assist with repairs, and local authorities or emergency services to manage the overall response.

By integrating digital platforms for real-time communication, like mobile apps or group messaging systems, you ensure rapid dissemination of critical information during the crisis.

This approach enhances the facility’s responsiveness, minimizes disruptions, and showcases a coordinated effort that builds trust among stakeholders.

When the unexpected strikes and disrupts critical functions in facility management, it’s time to put our recovery strategies into action.

The goal? To bounce back stronger than ever and restore normal operations swiftly. Developing these strategies is a crucial step in building a robust business continuity plan for facility management.

First and foremost, we analyze the impact of the disruption and identify the critical functions that need immediate attention. With a clear understanding of what needs to be restored, we devise comprehensive strategies to get things back on track.

For example, if a facility is damaged due to a natural disaster, we might establish alternate facilities or activate remote work capabilities to ensure uninterrupted service delivery.

Collaboration is key in the recovery process. We work closely with our trusted vendors and suppliers, leveraging their expertise and resources to expedite the recovery. By forging strong partnerships, we can access necessary equipment, materials, and services promptly, minimizing downtime and ensuring a timely recovery.

When it comes to building a business continuity strategy in facility management, one crucial step is implementing preventive measures to ensure vulnerabilities are not left unchecked. This proactive approach helps safeguard critical systems and functions from potential disruptions.

To begin, it is essential to establish preventive maintenance programs for critical systems. Regular maintenance and servicing can prevent unexpected breakdowns and identify any underlying issues before they escalate. By staying ahead of maintenance needs, facility managers can minimize the risk of system failures and ensure smooth operations.

Another vital aspect is integrating redundancy and backup systems for key functions. Having backup systems in place provides an additional layer of protection against potential failures. Redundancy ensures that if one system fails, there is a backup ready to take over, minimizing downtime and maintaining continuity.

Conducting regular inspections and audits plays a significant role in identifying potential vulnerabilities. By regularly assessing the facility’s infrastructure, equipment, and processes, facility managers can detect any weak points or areas that require improvement. This proactive approach allows for timely corrective actions and mitigates the risk of unexpected disruptions.

Train Like There’s No Tomorrow

When it comes to building a solid business continuity strategy in facility management, one crucial step stands out: training and testing the plan. In this stage, we embrace the motto “train like there’s no tomorrow” to ensure our emergency response teams are prepared for any situation.

Regular training sessions are the backbone of our preparedness efforts. We gather our teams, share knowledge, and sharpen their skills in handling emergencies. Through interactive sessions, we empower our team members with the confidence and expertise to navigate challenging scenarios.

But training alone is not enough. We go a step further by organizing drills and simulations that put our plan to the test. These real-life scenarios allow us to assess the effectiveness of our strategies, identify areas for improvement, and fine-tune our response procedures. It’s like a dress rehearsal, preparing us to perform flawlessly when the spotlight is on.

Training and testing the plan are not just checkboxes to tick off. They are ongoing processes that ensure our facility management team is always prepared and ready to handle any disruption that comes our way. With each training session and simulation, we become stronger, more resilient, and better equipped to safeguard our operations.

By exploring technology solutions like facility management system software , organizations can gain a competitive edge in maintaining business continuity in facility management.

Automation and monitoring systems take center stage, allowing for early detection of potential issues. These systems can monitor critical functions, equipment, and infrastructure, providing real-time insights and alerts.

They act as a watchful eye, ensuring that any deviations or anomalies are promptly identified and addressed before they escalate into major disruptions.

Moreover, leveraging data analytics becomes a game-changer in proactive risk management. By collecting and analyzing vast amounts of data, facility managers can uncover patterns, identify trends, and predict potential risks.

This data-driven approach enables them to make informed decisions, implement preventive measures, and allocate resources effectively.

Integrating technology solutions not only enhances operational efficiency but also empowers facility managers to take a proactive stance in managing risks.

You’ve created a business continuity plan that’s your trusted companion in times of crisis. But here’s the secret to staying ahead of the game – keeping that plan supercharged through regular reviews and updates.

In the world of facility management, change is the only constant. That’s why maintaining business continuity in facilities management requires establishing a regular review process for your business continuity strategy.

Take a step back, gather your team, and evaluate the effectiveness of your plan based on real-life scenarios.

Did it hold up when faced with challenges? Were there any gaps or areas for improvement?

But don’t stop there. Embrace feedback from your team, stakeholders, and even external experts. They bring fresh perspectives and insights, helping you address emerging risks that might have flown under the radar. Their input can be invaluable in making updates and enhancements to your plan.

Let’s say your facility experienced a recent power outage that lasted longer than anticipated. During the review process, you realized that your plan lacked sufficient measures to handle extended power disruptions.

With this feedback, you can update your plan to include backup power solutions or alternative work arrangements to keep operations running smoothly.

Remember, a supercharged plan is a living document – one that evolves and adapts to the ever-changing landscape of facility management.

When it comes to building a business continuity strategy in facility management, engaging stakeholders and promoting a culture of preparedness is essential. It’s not just about having a plan on paper; it’s about fostering a mindset of resilience within the organization. This involves engaging facility management staff in the planning and implementation process.

By involving your team in the development of the business continuity plan for facility management, you create a sense of ownership and responsibility. Their input and expertise can uncover valuable insights and ensure that the plan reflects the unique needs of the facility. Through training sessions, drills, and regular communication, you can empower your staff to become active participants in building resilience.

But it doesn’t stop there. Collaboration with external stakeholders is equally crucial. This includes partnering with local authorities and emergency services. By establishing relationships and open lines of communication, you can tap into additional resources and expertise in times of crisis. They can provide guidance, support, and coordination during emergency situations, enhancing the effectiveness of your business continuity efforts.

Overall, engaging stakeholders and building resilience is about creating a shared commitment to preparedness. It instills a sense of confidence and readiness within the organization, ensuring that everyone is prepared to respond effectively to any disruption that may come their way.

As facility managers, it’s crucial to recognize the importance of building a solid business continuity strategy. By taking proactive steps such as implementing preventive maintenance programs, integrating redundancy systems, and conducting regular inspections, you can ensure smooth operations and minimize disruptions.

With FieldCircle , you can streamline preventive maintenance tasks, automate inspection processes, and stay ahead of potential risks. By embracing a proactive approach and leveraging technology, you can effectively manage your facility’s maintenance needs, identify vulnerabilities, and address them before they escalate into major issues.

These measures not only protect your business from unexpected downtime but also contribute to long-term cost savings and increased productivity. So, whether you’re a startup founder or a seasoned facility manager, understanding the difference these strategies can make is key.

Embrace a proactive approach, invest in preventive measures, and stay ahead of potential risks. By doing so, you’ll build a resilient facility management system that can weather any storm and keep your operations running smoothly.

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How to Develop and Write a Facility Asset Management Plan

 We’re here to ensure that doesn’t happen to you. In this article, we’ll explain what a facility asset management plan is and show you how to create one, covering helpful examples along the way. 

The purpose of a facility asset management plan

A hierarchy of asset management documents begins with an asset management policy , flows into an asset management strategy , and ends with a series of asset management plans.

Each document level serves a particular purpose, which, when combined, supports a business’s asset purchase, use, care, and disposal expectations.

An asset management plan is a document detailing a department’s process to turn a defined strategy into actionable steps. Unlike policy or strategy documents, the wording and focus are short-term, measurable, and dynamic .

A company will have only one asset management strategy but may have multiple asset management plans. It’s common for each internal department to have a plan that focuses solely on the assets and particular context within the department.

Developing an asset management plan

A facility asset management plan is an operationally focused document that has no room for aspirational statements. Think of it as a tactical checklist, listing tasks to achieve within a certain timeframe and budget. The goal of this document is to implement the higher-level objectives outlined in the asset management strategy document .

The following steps will help you gather the data you need to write an effective facility asset management plan.

1. Complete an asset inventory

Asset inventory requires more data than just asset location. A detailed asset inventory should contain the following information (estimate the following information where it’s available):

• Asset location: If you have an asset tracking system in place , you should already have this information.
• Asset condition: Don’t simply cover asset operation and maintenance in this assessment. Check whether the asset is clean and cosmetically well-maintained, is it compliant with safety requirements, is it experiencing performance issues, etc.
• Asset value: The finance department should list depreciated values for each company’s asset . Note down if this theoretical value contradicts the asset’s condition.
• Remaining life: This estimate is very subjective, but consider how long the equipment will go on performing its function before a replacement is needed. We’re not talking about economic life; we’ll cover that soon. Just quantify its mechanical life if maintained to its current standard.

Checklist for Creating a Preventive Maintenance Plan

Following a consistent preventive maintenance plan can make life easier. use this checklist to create your own.

2. Identify critical assets

The most straightforward way to identify assets is to perform a criticality analysis . You’re looking to analyze how each asset failure impacts your costs, operations, environmental complaints, and safety.

Create a scale with metrics to rank the severity. For instance, equipment failure with a low severity may rank at 1 and cost the business less than $10,000, but a high severity of 5 may be over $500,000 or even potentially close the business.

This criticality ranking helps you rank the assets and identify those that deserve more attention from your maintenance team.

3. Identify asset performance

The goal is to understand how well each asset performs its role in making the company profitable, compliant, and safe.

Keep in mind that even newer assets in good operating condition can perform below the expected standards or require very high maintenance expenditures to function optimally.

The easiest way to gauge asset performance is to consult your computerized maintenance management software (CMMS). Check the asset’s maintenance costs, as well as its reliability and performance metrics.

Compare these in-service results with industry norms to understand how well your assets are performing.

4. Carry out a gap analysis against strategy expectations

Steps one through three will provide insight into your asset performance, useful life, criticality, and costs. With this foundation, you can compare the current asset state and capability against the objectives of the asset management strategy.

Suppose the asset management strategy states that asset lifecycle costs must get reduced by 25%, production efficiency should improve by 30%, or the non-conforming product metric must reduce from 9% to 3%.

By understanding the current conditions on your plant floor, you will immediately see if you can reach those goals. If not, you should also be able to identify problematic assets and processes you need to improve to get where you need to go.

5. Determine tactics to close the gap between performance and expectation

Once you know where you’re falling short, you can develop a list of tactics to help fix these issues.

These tactics will often be wide-ranging and may include:

• Improving operator performance
• Implementing more equipment redundancy
• Investing in asset modifications
• Revising existing or implementing new maintenance programs
• Changing maintenance contractors and vendors.

6. Develop an annual works plan

Now it’s time to break down the tactics you identified in the previous step and outline a plan for their implementation. Think of this as a project plan with costs and justifications.

Look three to five years ahead and consider the following (don’t forget to define the starting and completion dates):

• Prioritize quick wins: You identified glaring deficiencies or easy fixes during your analysis. Focus on the easy ones first to start generating rapid results and increase worker and management support.
• Identify maintenance modifications: Changing a maintenance plan requires careful consideration and planning to prevent disruption. Collaborate with the engineering and maintenance teams to gain agreement on actions, dates, and resource requirements.
• Allocate the needed resources: Training existing employees, modifying schedules, or implementing new hires all require coordination and planning. Don’t forget to communicate these changes before they happen, and involve HR in the discussion. Also, define the costs of these changes.
• Highlight changes to the asset lifecycle: Discuss, plan, and define costs of any equipment modification, disposal, and new purchases. Communicate those to your procurement team.
• Plan operational changes: List the required operational changes (shift amendments, upskilling plans, involving operators in equipment maintenance). Discuss changes with all stakeholders. 

7. Estimate the budget

Estimate all changes and capture the direct costs for implementation, along with its effects on:

• Asset longevity
• Capital apportionment
• Spare-holding costs.

Remember, the cost of an asset usually forms only about 20% of the total cost of ownership , with the rest being the remainder of the lifecycle costs.

Use net present value (NPV) calculations to support major investments.

8. Conduct regular reviews

Make sure to schedule regular reviews of the asset management plan. Check if everything is on schedule and within the estimated budget, and whether the changes are leading to the desired outcomes.

A typical structure of an asset management plan document

You will never find two identical asset management plans. They vary by industry and the specific context within the department.

However, the following structure can be used as a guide when writing such a document.

The summary should highlight the key takeaways from the gap analysis and subsequent tactics, actions, timeframes, and expected outcomes.

As a concise overview, it should give the reader a taste of what’s to follow.

2. Purpose and scope

This chapter aligns the actions in the plan with the objectives of the overarching asset strategy.

It should place a boundary around the plan’s impact by describing the departmental or geographical limits it applies to, and the time span over which the plan will be relevant.

3. Current assessment

Explains the major roadblocks or restrictions that make strategic objectives difficult to achieve.

Group the identified issues under common headings. It could be poor critical equipment reliability, sup-optimal skill levels, or a lack of resources.

4. Future performance

This chapter links the successful corrections of the current deficiencies to positive changes supporting the objectives from your asset strategy.

Explain — in measurable terms — the benefits that will accrue to the business.

5. Maintenance program

Changes in operating philosophy, equipment modifications, new assets, or reliability initiatives will require a review and adjustments to the maintenance program.

The shift may be:

• A transition from planned maintenance to total productive maintenance (TPM)
• Revised shift pattern
• New tooling
• Improved spare holdings.

Detail what must change to accommodate or promote improved asset performance and longevity.

6. Financial calculations

If you spend a dollar in business, you must be sure you’ll get at least two back.

In this section, lay out the budget for your plan, show how that expenditure will repay itself through performance in line with strategic objectives, and set the timescale within which you expect to see a result.

7. Improvement action plan

This section is the monthly project plan that shows the start and completion date of each initiative and, preferably, those responsible and accountable for the event.

This chapter will be your roadmap with which you can build key performance indicators and reward successful implementation.

A few examples of different asset management plans

Finding examples relevant to the private industry is a challenge. Most private companies keep such plans confidential.

Still, we can find examples from public utilities, which help show the wide differences in format and style:

• Cheshire East Council : The UK city’s council plan dives a little more into strategy than an internal departmental action plan usually would. It has a good three-year action plan stipulating when tasks or review activities will begin and finish.
• Auckland Council : This New Zealand city’s council plan is far more comprehensive than the one expected from a department in a manufacturing company. However, it discusses the strategic aim of the council and the gap analysis against current performance. There are also extensive CAPEX and OPEX calculations, with timelines of specific initiatives.
• Thunder Bay : Canadian city’s plan has useful examples of asset condition estimation, age, estimated useful life, and service levels received from the assets. As this is a first-stage plan for asset management, rather than discreet actions for each asset, it lays out a timetable for the next stage of asset analysis and evaluation. Appendix F also shows how the plan aligns with other corporate planning departments. 

Get the most out of your assets

Facility asset management plans are essential components of an organization’s asset management initiative. They are short-term tactical plans that:

• Indicate the steps a business or department will take to meet the objectives of their asset management strategy
• Justify budget spending
• Set key performance indicators (KPIs) to track.

Creating an asset plan that follows your policy and strategy documents can help you get the most out of your assets, maximize operational effectiveness, and can give you an edge over your competitors. To learn more about asset management and maintenance, keep browsing the Limble blog .

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U.S. Approves $1.5 Billion Loan to Restart Michigan Nuclear Plant

The conditional loan from the Energy Department is part of a broad effort to revive the use of nuclear energy in the United States.

By Ivan Penn

The Biden administration announced on Wednesday that it had agreed to provide a $1.52 billion loan guarantee to help a company restart a nuclear power plant in Michigan — the latest step in the government’s effort to revive the nation’s reactors.

The loan guarantee from the Energy Department will allow Holtec International to revive the Palisades nuclear plant in Covert Township, Mich., on the shores of Lake Michigan and about 40 miles west of Kalamazoo, and keep it going until at least 2051. The loan guarantee is conditional on the facility receiving regulatory approvals and fulfilling other requirements. The plant ceased operations in May 2022.

Nuclear power plants produce electricity without emitting the greenhouse gas emissions that are warming the planet, a feature that has made them popular with lawmakers and energy executives. But many of the country’s nuclear reactors, including the Palisades plant, are at or near the end of their lives and need major upgrades. And few U.S. companies have built new nuclear plants in recent decades because doing so is incredibly expensive and time consuming. As a result, lawmakers in both parties have backed incentives and subsidies for nuclear energy.

Holtec bought the Palisades plant in 2022 in order to close the facility but later campaigned to reopen the plant with the backing of the Michigan governor, Gretchen Whitmer, a Democrat.

“Once open, Palisades will be the first successfully restarted nuclear power plant in American history, driving $363 million of regional economic impact and helping Michigan lead the future of clean energy,” Ms. Whitmer said in a statement.

Federal loan guarantees and grants are expected to help extend the life of other plants and spur the development of new technologies to help ensure there is sufficient power to electrify home heaters, cars and industry.

California in recent years reversed its decision to close the Diablo Canyon Power Plant on the Pacific Coast because lawmakers are concerned that the state will not have enough sources of electricity to avoid rolling blackouts on hot summer afternoons. The Department of Energy awarded $1.1 billion to Pacific Gas & Electric to continue the plant’s operations.

“Nuclear power is our single largest source of carbon-free electricity, directly supporting 100,000 jobs across the country and hundreds of thousands more indirectly,” Jennifer M. Granholm, Mr. Biden’s energy secretary, said in a statement on Wednesday, announcing the loan guarantee for the Palisades plant.

The United States has the largest nuclear energy operation in the world, with almost 100 units across the country, including two new ones at the Alvin W. Vogtle Generating Plant in Georgia, which took more than a decade to build and cost a staggering $35 billion.

Because of the challenges of building large plants like the two Vogtle units — something experts have said was unlikely in the United States in the near future — the Biden administration also has pushed for smaller reactors that could be built more quickly and at lower cost.

Those units, often referred to as small modular reactors, could be built in stages rather than all at once. But no small modular reactors have received full approval and licensing from the Nuclear Regulatory Commission. Holtec wants to use the site of the Palisades nuclear plant to build two small modular reactors, though the cost of those would not be covered by the loan guarantee announced on Wednesday.

Until the small reactors become a reality, a greater focus has turned toward extending the life of nuclear plants already in operation and reviving older units.

Ivan Penn is a reporter based in Los Angeles and covers the energy industry. His work has included reporting on clean energy, failures in the electric grid and the economics of utility services. More about Ivan Penn

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