Managing a facility includes many unexpected hats to be worn (Project Manager, Customer Service Manager, Financial Strategist etc.). Repairs, routine maintenance, cleaning and replacement of furnishings are a part of facility management. The cost of lighting, heating, cooling, maintenance and other utilities make facilities management one of the most substantial operating investments for many companies.
There are many effective cost cutting tips that can reduce operating costs for facility managers, avoiding the need for risky tactics such as raising prices or making significant capital investment that may not yield good results in the long run.
As a Facility Manager, it is very important to regulate the cost of operations, here are some ways to reduce the overall facility management cost:-
1. Use Workflow Optimization To Cut Time And Cost
Improvisation is the primary goal of analyzing workflows .The repetitive but essential admin tasks take up most of the time of Facility Managers. They spend days and weeks triaging and responding to the mails and phone calls, manually maintaining the workflows that really should be automated. An effective CAFM system can streamline the workflow and ease the communication flow process saving both time and cost. Also, it is vital that business professionals alongside facility managers see the pitfalls in inventory and manage them in order to reduce cost and increase productivity.
2. Sort Out Planned Preventative Maintenance
Planned Preventative Maintenance Plan assists facility managers in determining the state of in-service equipment and responding quickly during disruptions and downtime. It ensures that assets are in top working order andhelps in avoiding failures, breakages and unexpected maintenance costs which results in budget accuracy. This approach enhances assets’ longevity and allows them to work with greater efficiency.
3. Streamline FM Activities
Equipment such as facility lighting and HVAC can be automated to increase operational efficiency. Connecting HVAC schedules directly to the building automation system can give more control over the heating and cooling of facility. This results in more efficient energy use. Similarly, implementing energy saving LED bulbs, double glazing on windows and enhanced wall insulation within the facilities not only benefits the environment but also reduces carbon emissions leading to significant savings without any drop in performance.
4. Optimize Space Management
Implementing effective space management strategy across the facilities also helps in reducing operating costs. Through a carefully implemented space management strategy, facility managers can determine better ways to allocate space throughout the properties, making the workplace more manageable by ensuring that no money is wasted on vacant locations.
5. Effective Training Sessions And Clear Communication
Effective training and development program makes the workplace more efficient and reduces expenses on repetitive trainings. Keeping everyone up to date on any changes happening within the facility increases productivity and accountability. With clear and effective communication, facility managers can ensure that the team devotes more time to the most important work by removing any unnecessary task, thereby reducing cost and increasing work efficiency.
Facility Managers can save a lot of money by following different cost cutting tips. Expenses can be reduced through a more efficient approach to generate more profit and in other cases, the cost may not change but the value increases. In either case, the business benefits. Thus, reducing costs and increasing value are the best ways to work efficiently in a company irrespective of the field of work. With these facility management cost saving tips, facility managers can take proven steps to make the hat fit a little better.