A recent survey describes the importance of benchmarking as the ‘search for the best industry practices that lead to better performance’.
How does benchmarking help in facilities management?
Benchmarking provides you with a holistic view of your buildings’ performance. Think of it as an effective way to keep tabs on all of your buildings. The data collected during this process paves the path for regular improvements and relevant reinforcements.
Benchmarking allows managers to assess and evaluate different metrics in their field. In regards to facility management, it’s a process that compares and analyzes data based on the building’s performance.
The main aspects of facilities management benchmarking are:
- Maintenance cost for a specific period.
- Units of electrical and other energy consumption.
- Surveillance of building assets and their value to the company.
As a result, these assessments ensure that you make informed decisions to improve the company’s performance.
How Does It Help in Facilities Management for Multiple Buildings?
There are 3 main benefits of benchmarking for multiple buildings:
1. Balancing Act
You know how they say, ‘too many cooks spoil the broth?’
In terms of facilities management, too many buildings eat up your resources. At least that’s what it feels like to managers who can’t keep track of their expenditures. Benchmarking helps you overcome this negligence by giving you a complete property profile.
The statistical data can help you to:
- Identify projects that drain out your funds.
- Highlight areas that deliver better productivity rates.
- Notice problematic issues in your infrastructure.
Learning these details will ensure that you know which projects require more attention. Consequently, you’ll start investing in profitable projects instead of wasting money on irrelevant upgrades.
2. Eco-friendly Initiatives
At present, lots of organizations have started to reduce their carbon footprint by prioritizing energy-saving solutions. Not only does this help you earn a few brownie points in terms of public relations, but it also minimizes your expenses.
Many companies use benchmarking to develop alternate strategies to improve their energy efficiency.
- Saving energy by using solar panels for electricity.
- Recycling and reusing waste and supplies.
- Installing water-efficient sinks and toilets for office bathrooms.
3. Planning Ahead
Are you planning to expand your buildings? Toying with the idea of upgrades?
Benchmarking is the only way to ensure that your plans work. The assessment strategies help you predict how well the new building will perform. It does this by comparing the status of your current properties and other buildings in the area.
You can use this data to create expansion plans that optimize building performance. Moreover, these data-driven decisions prove to be more profitable than plans made on assumptions.
In short, benchmarking helps you intelligently optimize, improve, and expand your infrastructure.
We have put together a guide for energy and facility managers to help them understand the prevalent building management technologies there are to choose from. Download our Guide to Building Management Technologies below.
Posts in this series
Top 3 Benefits of Benchmarking for Facilities Management
What Facility Managers Need To Know About Smart Buildings
Are You Managing Your Energy Spend?
4 Common Myths of Energy Conservation in Building Management
Precision Building Management: Understanding Closed Loop Control