Comprehensive Report on Property and Facility Management Principles

This report provides a comprehensive overview of property and facility management, beginning with a definition of facility management (FM) as a professional discipline focused on efficiently delivering support services. It highlights the importance of a dynamic approach encompassing space, accommodation, and business plan strategy, detailing the phases of examining necessities, developing solutions, and implementing resolutions. The report then discusses asset management (AM), emphasizing its role in sustaining valuable assets and the significance of operational asset management for organizational feasibility. It outlines key functions such as asset knowledge identification, strategic planning, performance evaluation, and the development of service standards, also noting the importance of an asset management register. Furthermore, the report examines Property Maintenance Systems (PMS), highlighting their role in streamlining maintenance processes and the various types of maintenance plans available. Lastly, it explores Energy Management Systems (EMS) and the significance of carbon pricing in promoting decarbonization, emphasizing the need for documented standards to ensure a positive Return on Investment (ROI) for property portfolios. This report provides detailed insights into the multifaceted aspects of property and facility management.

Running head: Property and Facility Management 1
Property and Facility Management
Institution
Student

Property and Facility Management 2
Property and Facility Management
Q1
Facility Management (FM) refers to a professional management discipline which focuses on the
effective and efficient conveyance of support services for the establishments that it serves. From
this description, one can note that FM serves to ascertain the coordination of processes,
individuals, systems, technology and place to make an organization as a whole more effective.
Managing facilities professionally and efficiently necessitates that a dynamic approach is
established within the framework of the establishment’s space/accommodation and business plan
strategy (Paxman, 2007). These ought to encompass development of premeditated proposal and
goals for the facilities management, with appropriate reference to the general
space/accommodation and business plan policy within which it may be kept in check. An
approach (or business blueprint) for facilities management ought:
 Cogitate the requirements of the organization, distinguishing between essential and non-
essential business undertakings;
 Recognize and institute operational and controllable procedures for meeting those
particular requirements;
 Create the suitable resource requirements for offering services, whether acquired from
within or externally;
 Categorize the source of the means to funding the plan as well as its concrete
insinuations;
 Institute a financial plan covering short term requirements and preeminent worth over the
long term; and be aware of that administration of information is crucial to offering a
foundation for active management of facilities management.

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There three main phases in the enhancement and accomplishment of a feasible approach for
facilities management are:
 examining necessities – that is the top level examination;
 Coming up with solutions – developing the best option; and
 Implementing or effecting resolutions – putting the strategy to work
Incorrect resourcing can drastically affect the overall performance of an organization since it
reduces efficiency, effectiveness as well as its corporate benefit (Williams, & Purdey, 2005). A
company, for example, which provides or resources excess materials needed for a certain project
may incur superfluous wastages which would subsequently affect its financial resources. In the
long run, the organization might also experience scarcity of resources to finance its development
plans.
Q2
Asset management (AM), generally demarcated, refers to any sort of coordination which
observes and sustains stuffs of value to a group or an entity. It might relate to both intangible
assets (such as intellectual property, goodwill, human capital, and/or financial assets) and to
tangible assets (like buildings, land, and moto vehicles). Asset management is a methodical
procedure of evolving, operating, sustaining, promoting, and arraying of assets
lucratively(Williams, & Purdey, 2005). In many organizations, physical assets underpin the
future success and development. Operational management of assets (asset management) is vital
to the general feasibility of such organizations (Lodge & Morris, 2008). The following are the
base functions attributed the process of asset management.
 Existing Asset Knowledge Identification

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 AM Strategic Planning
 AM Planning
 Asset Performance Evaluation
 Community Levels of Service Standards Development
 Demand Management Options Exploration
Asset Management functions constitute various aspects some of which include:
• Safeguarding the continuing sustainability of the function.
• Classifying asset criticality, condition and location.
• Prolonging asset lifespan by –making sound decisions and dedicated operations and
management
• Promoting system, pliability, sustainability, and dependability.
• Reliably meeting customer needs and wants.
Efficient asset management might assist in various ways to manage huge expenditures and for
this an asset management register is essential. An asset management register is fundamentally a
list of an establishment’s assets as well as their condition and aids an institute to determine what
it possesses or contracts, the stock of that asset, figure out where that item is and who is in
charge of it (Power, 2008). A typical asset management register managed by the Property
Manager could contain:
• Classes of assets that can be property, fixed assets and transferable assets
• Asset’s ID number
• Asset description

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• Asset warranty details
• Lease end date
• Disposal details and
• Its location
Q 3
Property Maintenance Systems (PMS) are used in government or hospitality accommodation
management, intellectual property, logistics, real estate, and manufacturing. They are electronic
systems or tools which ease the maintenance of equipment, property, personal properties,
including management, validities and personnel all via a distinct piece of software. They
substituted out-of-date, paper-based approaches which tended to be both burdensome and
unproductive. They are normally set up as client/server conformations. Nowadays, most next
cohort property management schemes favor web and cloud know-how and provide their software
to customers by use of a software-as-a-service model. 360Workplace for Commercial Real
Estate is a good example of Real Estate Property Management cloud-based system.
360Workplace works as a collection of software of systems (providing construction project
software, space management, facility maintenance management, and lease management) for
those considering managing real estate with more than simply a single elucidation. There is no
specific preferred method of maintenance planning (Wills, 2008). What constitutes a dependable
or a reliable maintenance planning is what specifically suits the overall a given organization.
This means that maintenance planners should comprehend their responsibilities and come up
with complete service orders and maintain decent history files. There are various types of
maintenance plans available to the Property Manager that are differentiated by the nature of the
tasks and they include:

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• Corrective maintenance plan
• Preventive/ scheduled Maintenance plan
• Predictive Maintenance plan
• Zero Hours Maintenance (Overhaul)
• Periodic maintenance plan
Novel technologies are continuously expanding the scope of this field and more maintenance
plans are still being implemented (Timm, 2008).
Q 4
Irrespective of an organization’s portfolio or geographical coverage, an Energy Management
System (EMS) is an invaluable instrument for handling assets which consume energy in its
facilities. Since the management cannot see everything simultaneously, an EMS features devices
that can sense energy, gas, water, humidity, daylight, temperature among other whether aspects.
Just setting up EMS alone shall not lead to considerable savings. Corporations as well need to be
aware of how to excerpt and examine data and take necessary actions on the information
(Wurtzebach, & Miles, 1994). Lack of documented standards/enforcement is a practical instance
of how a lack of energy management affects the Return on Investment (ROI) of a property
portfolio (Epstein, & Buhovac, 2014). When commissioning, the control system communication
and documentation is important and it means that if these energy management standards are not
well-documented or enforced they might negatively affect the ROI of a property portfolio. An
organization should aim at capturing the optimum configuration for its amenities… even if they
turn out to have manifold versions based on the type of building or its geographical location.
There is a rising agreement amongst both businesses and governments and on the central role of
carbon pricing in the changeover to a decarbonized frugality. Carbon pricing is a tool which

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captures the peripheral expenditures of greenhouse gas (GHG) discharges—the overheads of
releases which the public compensates for, such as impairment to crops, healthcare expenses
from droughts and heat waves, and loss of property from overflowing and sea level rise—and
connects them to their sources through a price, typically in the form of a price on the carbon
dioxide (CO2) discharged (Fahimnia, Sarkis, Dehghanian, Banihashemi, & Rahman,
2013). Government administrations are as well making use of internal carbon price for
policymaking functions, such as estimating the climatic impact of investments on infrastructure
in project evaluations.

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References
Epstein, M. J., & Buhovac, A. R. (2014). Making sustainability work: Best practices in
managing and measuring corporate social, environmental, and economic impacts.
Berrett-Koehler Publishers.
Fahimnia, B., Sarkis, J., Dehghanian, F., Banihashemi, N., & Rahman, S. (2013). The impact of
carbon pricing on a closed-loop supply chain: an Australian case study. Journal of
Cleaner Production, 59, 210-225.
Lodge, K & Morris, R (2008) “Supporting business objectives through effective CRE”, Facility
Perspectives, Vol 2 , No.1, Wintercomms, AUS, pp. 74-75
Paxman, D. (2007). Facilities Management in Practice. Bromley: International Facilities an
Property Information Ltd.
Power, J (2008) “Commercial Property under the Microscope”, FM Magazine, Niche Media,
AUS (N/H)
Timm, R, (2008) “Communication Chaos”, FM Magazine, Niche Media, AUS
Williams, B & Purdey, B (2005), Facilities Economics in Australia, International Facilities &
Property Information Ltd.
Wills, P. C. (2008). Corporate real estate practice in Australia. Journal of Corporate Real
Estate, 10(1), 40-53.