With the evolution of facility management, there has been a rise in pressure for facility managers to prove their merit. Simultaneously, it is also difficult to achieve the success that they have been aiming for. This is where Key Performance Indicator (KPI)comes in; KPIs help facility managers to achieve clear targets that they must fulfill to accomplish success for any organization.
But the question is: What is KPI?
KPI or Key Performance Indicator is an assessable value that shows how competently an organization is acquiring the main business objectives. KPIs are mainly used by companies at various levels to assess their success in fulfilling targets. Where facility management services in India are concerned, data is consolidated from various sources and is made clear to the facility managers so that they can view at the scope of improvements, what needs to be altered and how effectively can they welcome success.
What are the KPIs included in facility management?
The various KPIs for facility management are:
- Bringing improvement in utilization of space- This KPI shows how many workplaces are engaged at a particular time and how frequently meeting rooms, conference halls and other such spaces are used across your properties.
- Reduction in the rate of energy exhaustion- The purpose is very clear from this KPI and it is to look for various factors that lead to energy/electricity consumption. This would include cooling, heating, lighting and others.
- Efficient maintenance of buildings- Maintenance is the key area of emphasis for facility managers. Hence, this KPI is used to audit the ways of utilizing the rooms in a facility, employing maintenance officials when required and also taking steps that lead to preventive maintenance.
How does KPI benefit integrated facility management services?
Whatever be the KPI for facility management services, it should focus on achieving success for the company and also should be calculable. However, KPIs benefit facility management in various ways like:
1. KPIs provide truth from multiple sources- Since KPIs provide data after analyzing from multiple true resources, it is held to be elucidative and informational. For instance: if your facility has great analytics and reporting abilities, your facility management software can take data from various facility divisions and figure out which KPIs are most useful for your business goals and also aid in tracking the KPI trends and performance.
2. KPIs grant a balanced company scorecard- Every company has a scorecard that tracks KPIs from various perspectives like internal, external, financial and innovation. Using facility management software to track KPIs can help your organization to obtain scorecard from various angles that in turn help in the process of evaluation and planning.
3. KPIs can generate analytical conversations- Beginning conversations is one of the most important functions of KPIs. By knowing that KPIs are being tracked, it helps to have great decision-making power in an organization. The information contained in the KPI reports tell whether any modification is needed or not, what the KPIs allot and what are the expected outcomes on achieving KPI-related objectives.
4. KPIs brings together data and business strategy- That’s right. KPIs help to reduce the distance between business strategy and crude data. By utilizing facility management software to track KPIs, you can take numbers and insert it in a relation that shows the positive alignment of operations with business goals.
Conclusion- As a facility manager, knowing your own KPIs can help you to figure out how to improve the management of facilities and establish business goals. By being aware of the various data and how to apply them to your business objectives, you can aid facility management services in acquiring both short and long-term organizational goals. To know more about facility management services and KPIs, visit www.sibservices.in