Property assets are undoubtedly important strategic resources, which are expensive to maintain, build, and even manage. These are strategic resources and they enable and support a wide range of service delivery functions.
Property asset management is thus a specialist job. In an environment, where the availability of resources is limited, it is necessary to ensure justifiable utilisation of resources. Prioritisation of the tasks that lie ahead is also necessary. It is necessary to ensure the strategic management of property-assets comprising buildings. It will require a combination of human resource management, procurement strategies, organisational change programs, information technology and workplace strategies.
Facilities management forms an integral part of property asset management and thus is a basic functional requirement for all buildings, which are designed to meet organisational objectives and to support businesses. The premises and the resulting overhead costs often become a cause of worry for the property owner, as they are considerably high.
Over the years, there has been an increasing trend amongst property ownersto outsource the task of facilities management. This helps them to manage the costs effectively and at the same time optimise the efficiency and quality of the work environment. The owner does not have to bother about issues pertaining to the property and therefore concentrate on the core area of business.
Agencies and individuals that specialise in facilities management extend a host of primary client services. These include:
- Procurement management in order to get the best value when it comes to elaborate tender exercises, in tandem with the necessary legislation required
- Checking and auditing the operational performance of the suppliers
- Considerable reduction in occupational costs and at the same time increasing the quality of the premises or quality services
- Service and property database management
- Computerised budgeting and financial management, anticipating expenditure, profit and loss and accruals
- IT client links and client customised reporting
- Maintenance of management help-desk for the sake of fault reporting
- Well-planned maintenance programmes
- Contract management of the service providers to improve performance and also help in constant monitoring
- Implementing fire safety legislation including water safety advice/legionell, DDA and drills
- Energy audit, procurements and conservation
- CAD systems/space management and identifying the opportunities for change
- Creation of Resumption Plans or Business Continuity plans along with implementing bomb scare procedures
Facilities management professionals also work in order to effect portfolio enhancement. The task includes:
- The identification of client needs for rendering effective facilities management services, framing a procurement strategy and structure options
- Devising facilities management solutions in order to improve efficiency which leads to end-user satisfaction
- Optimising the portfolio costs, revealing the latent portfolio values and challenges the service specifications that form an integral part of the multi-disciplined services.
- Stating the service requirements, the chief performance indicators and service level agreements
With a proper facilities management team in place, you do not have to worry about property issues that keep on surfacing from time to time. When you decide to put up your
property for sale, you can expect a profitable return on your investment
