The Growing Importance of Value-Based Facilities Management Practices

The Value-Based Facilities Management approach places emphasis on delivering value to an organisation rather than merely providing services or managing physical facilities. It involves aligning the facilities management practices with the overall strategic objectives and goals of the organisation. The key focus is on maximising the contribution of facilities management to the success and effectiveness of the business.

The Practice of Value-Based Facilities Management is more important today than ever before due to several key factors:

1. Economic Pressures: Businesses are under increasing pressure to optimize resources and reduce costs. Value-Based Facilities Management helps organizations achieve cost-effectiveness by maximizing the value derived from facility assets while minimizing operational expenses.
2. Technological Advancements: The rapid pace of technological innovation has transformed the way facilities are managed. Value-Based Facilities Management leverages technology to improve efficiency, optimize maintenance schedules, and enhance occupant experience, thereby keeping pace with the demands of the digital age.
3. Changing Workforce Dynamics: The rise of remote work and flexible work arrangements has shifted how facilities are utilized. Value-Based Facilities Management adapts to these changes by optimizing space utilization, supporting remote collaboration, and ensuring facilities meet the evolving needs of a dynamic workforce.
4. Sustainability and Environmental Concerns: There's a growing emphasis on sustainability and corporate social responsibility. Value-Based Facilities Management incorporates sustainable practices to minimize environmental impact, reduce energy consumption, and enhance overall environmental performance.
5. Globalization and Market Competition: In today's globalized marketplace, organizations must maintain a competitive edge. Value-Based Facilities Management helps organizations differentiate themselves by delivering high-quality facilities that enhance brand reputation, attract top talent, and drive operational excellence.
6. Regulatory Compliance and Risk Management: Compliance requirements and risk management considerations have become increasingly complex. Value-Based Facilities Management ensures facilities meet regulatory standards, mitigate risks, and maintain a safe and secure environment for occupants and assets.
7. Focus on User Experience: Occupant satisfaction and well-being are paramount. Value-Based Facilities Management prioritizes the user experience by creating environments that foster productivity, collaboration, and employee satisfaction, ultimately driving organizational success.

In summary, the practice of Value-Based Facilities Management is growing due to its ability to address economic pressures, leverage technological advancements, adapt to changing workforce dynamics, incorporate sustainable practices, maintain competitiveness, ensure regulatory compliance, and prioritize occupant experience.

The practice of Value-Based Facilities Management is based on The I-S-C FM Value Model which laid out the how-to and step-by-step methodology to achieve value creation, intentionally.

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For enquiries on how the Value-Based FM approach can help your FM to solve fire-fighting problems, improve performance, and establish an effective FM Management System, please email: enquiry@fms-1.com

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