Facilities Management
Management implies a need to be cared for, monitored and accountability. In the case of Facilities Management (FM), it is the building that needs to be properly managed given for its useful life and condition.
In recent years, awareness and the increasing popularity of Facilities Management has driven by integration of the planning and management of services to achieve better quality and economic of scale, and the continuous search for good opportunities by the financial community to create value for their investment funds.
For a Facilities Management Company (FMC) to be successful in business, it must process FOUR fundamentals management scope and they are Financial Management, Space Management, Operational Management and Behavioural Management respectively. Figure 1. provides the framework of these FOUR fundamentals and their scope.
Financial Management in FM means the efficient and effective management of funds (investment). In the case of FM, it is all about effective management of property investments. They can be :
Sale or purchase – profit or loss will have deep impact to all investments, precise calculation and scenario analysis is a must.
Rental return – rental income has direct impact on the cash flow of the organization and surely will have effect o the attractiveness of the investment.
Rebuild or modernization – utilization of floor area make good contribution to income, return on investment and the value of the investment
Space Management in FM relates to utilization, interior design, fit out and relocation.
Utilization – means effective usage of floor area
Interior design - would allow management to identity and position their property; for good customer mix, with innovative designs and specialized features would create a better image and representation.
Fit out and relocation – choices and usage of quality materials and fixtures would reduce the risk of any unnecessary breakdown and unscheduled maintenance;
In recent years, awareness and the increasing popularity of Facilities Management has driven by integration of the planning and management of services to achieve better quality and economic of scale, and the continuous search for good opportunities by the financial community to create value for their investment funds.
For a Facilities Management Company (FMC) to be successful in business, it must process FOUR fundamentals management scope and they are Financial Management, Space Management, Operational Management and Behavioural Management respectively. Figure 1. provides the framework of these FOUR fundamentals and their scope.
Financial Management in FM means the efficient and effective management of funds (investment). In the case of FM, it is all about effective management of property investments. They can be :
Sale or purchase – profit or loss will have deep impact to all investments, precise calculation and scenario analysis is a must.
Rental return – rental income has direct impact on the cash flow of the organization and surely will have effect o the attractiveness of the investment.
Rebuild or modernization – utilization of floor area make good contribution to income, return on investment and the value of the investment
Space Management in FM relates to utilization, interior design, fit out and relocation.
Utilization – means effective usage of floor area
Interior design - would allow management to identity and position their property; for good customer mix, with innovative designs and specialized features would create a better image and representation.
Fit out and relocation – choices and usage of quality materials and fixtures would reduce the risk of any unnecessary breakdown and unscheduled maintenance;