Facility Management KPIs are crucial to the practical success of your Facility management (FM) operations. It serves as a “guide” magnifying lens that introduces you to the most important things you can focus on during the successful management of your facilities.
Not only that but also these indicators play a prominent role in protecting your facilities from some potential problems. By constantly measuring them, you can know their dangers before they occur.
Accordingly, the most successful companies are making decisions dependent on the results of applying these indicators to their facilities. Nevertheless, these companies avoid policies contrary to these performance indicators and adopt other indicators affiliated with them to ensure the success of their operation per international standards.
In light of this, as you are heading the facility management position, you must be familiar with these indicators that most affect your facilities to lead them correctly and successfully. So, our article aims to provide you with everything related to the key performance indicators for facility management KPIs.
What are facility management KPIs?
In short, facility management KPIs are metrics that a company uses to see how close it is to achieving its desired business goals. In other words, the facilities management KPIs guide you to achieve the desired success, and this is generally.
In particular, the key performance indicators for facility management, public or private, are a set of essential processes that aim to achieve a control system for all data related to buildings and facilities. This can be done by monitoring the consistency of this data with those basic operations.
What are the most important key performance indicators for facility management KPIs?
Tracking any facility involves having facility management skills and using key performance indicators for facility management KPIs to enable senior management to evaluate the strategy followed in the business system.
These indicators have been formulated per the best operational performance standards globally. Most organisations and companies dream of reaching this level. So, the question here is, what is the most prominent of these indicators?
- Preventive Maintenance
This indicator is considered the most important of facility management KPIs. Using the principle of preventative maintenance, you will be able to measure the performance of machines and the number of problems facing them as a percentage. You will know the short or long periods the organisation is down.
Thus, you can make a critical decision about keeping the machines as they are or improving some of them. This step aims to improve the production process, but this is if the frequent breakdown schedule is not satisfactory.
- Time required to complete
The Time Indicator (Time KPI) is vital in any company, regardless of its field of work, primarily as it is closely related to the volume of production and the revenues of the establishments.
Therefore, this indicator, in particular, should receive exceptional care from you and even high management. This includes measuring the work team’s average time to deliver a task and continuously improving it until it reaches the degree of balanced performance, considering the quality factor.
- Interactive Response Time
Identifying and knowing how well your organisation’s machinery, equipment, and workforce respond to emergencies or significant work pressures is essential. This will help you prepare well for these moments in case they do happen.
So, make up some of these cases to measure the quality of this indicator within your organisation, and then monitor the progress of the work. Will the desired results be achieved in time?
- Maintenance Costs Vs Budget
The Facilities and Equipment Manager should know the importance of being financially prepared for any potential crisis, especially regarding facility management KPIs services.
The best example of these cases is the hardware failures of the facilities. Among them are the operational equipment and equipment as well as electrical panels and others that are directly related to disruption of business systems and making achieving goals difficult.
- Asset Maintenance Cost
Accurate Financial Reports and budget calculators, “i.e., where your money goes,” are vital facility management KPIs, especially since you may be spending a lot of financial support for systems that do not work as planned to achieve their purpose.
Suppose you see that the cost of preventive maintenance of assets is relatively high, but you do not see any reduction in the money and costs of unplanned maintenance. In that case, this indicates that preventive maintenance is not working effectively, so you can use the most appropriate procedure.
- Replacement vs Repair Cost
You may spend on planned and unplanned maintenance many times what you will spend on purchasing new components and can provide the appropriate task for the approved working system.
As a facilities manager, you also have to be savvier in choosing the right solutions for the type of problem and even follow the stages of financial planning using savings programs that guide how to put the right financial resource in the right place.
In conclusion,
When you start improving the facility management KPIs, you will notice the high level of sequential and reflected improvements on the facilities projects and installations. Therefore, try to develop your experience and skills further in this aspect.
We have mentioned some facilities management KPIs and information in this article. In light of this, we advise you to attend Facilities Management Training Courses in Dubai. These courses are worthy of reflecting the most important practical facility management KPIs for your organisation’s management.