Budgeting for Building Maintenance and Inspection
Budgeting is a tricky balancing act for facility managers — it’s imperative to keep operational costs as lean as possible while simultaneously accounting for unplanned expenses. Although tempting to save money where possible, trimming and postponing building maintenance and repair line items is a risky endeavor resulting in much higher costs. If not properly inspected […]
7 Critical Steps for Reopening Your Building
Although before 2020 we could name several reasons you might close your facility for a short period of time, including renovations or repairs, no one anticipated pandemic-related closures. Moreover, no one had a crystal ball showing how long many of our buildings would close or the resulting impacts. We appear to be in the 24th […]
Forward-Thinking Facility Managers Are Shifting from Reactive to Predictive
“This is the way we’ve always done it,” is one of the most dangerous phrases in every aspect of business, including facility management. When it comes to building and equipment maintenance, traditional “don’t fix it if it isn’t broken” wisdom, is not wrong per se. However, emerging data shows that a more proactive approach offers significant […]
How to Increase NOI and Reduce Operational Expenses
Facilities managers are always on the hunt for ways to increase Net Operating Income (NOI), from adding revenue-driving amenities, increasing rates, and decreasing operating expenses. All too frequently, they focus on increasing revenue, which can lead to dissatisfied tenants who may begin looking for alternative locations. However, by finding opportunities to reduce operating costs, you […]
How Predictive Analytics Can Reduce Facility Maintenance Costs by 40%
As a facility team leader, you live and breathe conversations about the productivity and profitability of your equipment and building systems. Maintenance and labor costs factor heavily into those discussions as you and your team weigh the benefits to your bottom line of reactive maintenance plans and preventative maintenance plans. However, if a predictive maintenance […]
Get Actionable Insights From Building Data
Increasing commercial HVAC efficiency is a global problem with a surprisingly high-tech solution. Since HVAC operations in large commercial buildings account for nearly 20% of all energy consumed worldwide (and nearly half of the energy in each building), facility managers and power grid engineers alike have a vested interest in increasing energy efficiency and reducing […]
