How do you define facilities management metrics? They are data points, reflecting the performance of assets in your organization. Metrics can be created for virtually every process and event, but tracking the right metrics can mean the difference between knowing how to improve operations or becoming overwhelmed with data. To simply the process, Facilities Managers should be tracking these top metrics.
Facilities Management Metrics Must Reflect Real Data
A frequent problem Facilities Managers encounter when developing key facilities management metrics is not tracking the right information. All facilities management metrics must reflect real, quantifiable data points. For instance, cost, size, quantity, temperature, status, yes/no response, and time/ date information are quantifiable data points, reports Robert Lambe via SlideShare. Now, let us take a closer look at the top metrics Facilities Managers must be tracking.
Track Work Order Response Times
Work order response times provide insight into the average amount of time it takes to find, report, and resolve a problem in a facility. Facilities manager should track average work order response times regarding vendor, facility, day, and severity.
Track the Backlog of Deferred Maintenance
The deferred maintenance backlog is yet another metric facilities manager should be tracking. Deferred maintenance eats away at the facilities budget, and depending on how long it stays unresolved, it can exponentially increase overall facilities spend and lead to higher total cost of ownership. Facilities managers should track the backlog of deferred maintenance as a percentage of overall maintenance costs.
Ratio of Planned Versus Reactive Maintenance
Speaking of percentages, Facilities Managers must also track the percentage of planned versus reactive maintenance. In other words, this is a measure of scheduled maintenance compared to on-demand maintenance, like sudden HVAC system failure. This ratio is calculated by dividing the amount of scheduled maintenance cost by the amount of on-demand maintenance costs. As the metric increases from zero, it reflects the average amount of facilities spend being used for reactive maintenance. If the result reaches a value of one, it means the existing reactionary maintenance is equal to scheduled maintenance. As the amount surpasses one, it means more reactive maintenance is required than what is currently scheduled, so Facilities Managers may need to reevaluate maintenance schedules to help bring down the amount of reactive maintenance.
Average Time between Failures
Tracking the amount of time that passes between repairs for like or identical system, as well as the amount of time between repairs for a specific system, can help show the overall unit viability. As the time between repairs decreases, it alludes to a possible need to upgrade and or replace the entire asset.
Energy Use per Asset/Unit
Similar to tracking the amount of elapsed time between repairs, the energy use per asset or unit can help identify potential malfunctions within a given asset. In general, before an asset fails, it will begin to consume more energy than standard to compensate for minor malfunctions, which may not have become known yet. If an asset suddenly increases energy use, without a reasonable explanation, it may be on the verge of failure.
Average Cost per Repair
Tracking the average cost per repair, or per work order, can help Facilities Managers understand their overall facilities spend as it relates to the number of work orders in each period. Decreasing average cost per work order is great, but even decreasing cost per work order may be a major expense if many work orders are submitted. The same concept is true in reverse. The cost of one large work order can offset the tracking of all work order costs. As a result, it is best to track the cost per work order than to get lost in the details of identifying the exact number of work orders submitted.
Space Occupancy Versus Vacancy
As explained by James McDonald of iOfficeCorp, space occupancy versus vacancy is essential to identifying effective space utilization within a given facility, this is even more important for corporate real estate providers, whom have a predicated need to maintain a high occupancy rate. It is calculated by dividing occupied space by vacancy. An ideal result is zero, but the value greater than rose row, but less than one, alludes to increasing vacancy rates. As the value approach is one, it indicates a 50-50 ratio of occupied to vacant space.
What About Metrics Versus Key Performance Indicators?
Metrics usually define smaller aspects of facilities management, but when metrics are applied to a target level, they become key performance indicators.
Start Tracking the Right Metrics Today
From facilities management metrics to developing target KPIS, Facilities Managers face a growing pool of data to use in making decisions. Instead of getting lost in the chaos and data mountain, put the power of facilities management metrics to work. Start tracking these metrics now and give QSI Facilities a call at 1 (877) 281-8177 to find out what other metrics can help your unique enterprise succeed.