Validating FM decisions with verifiable cost data is critical, yet rarely practiced.
While most facilities management professional are aware that detailed line-item cost data is required to achieve cost visibility and enable cost management, the dependence upon contractor or subcontractor estimates and/or historical data, and/or national average cost data and factoring remains the norm. The net result is an average economic waste factor of 30%-40%+ for every repair, renovation, maintenance, or new build.
Locally researched granular construction task data that is both current, and organized using standard data architectures, provides the only way to enable cost management by…
- Sharing a mutual understanding of technical, cost, and productivity information among internal and external planning, procurement, and project delivery teams,
- Improving and retaining domain knowledge, and
- Quantifying decision-making.
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Validating FM decisions with verifiable cost data is critical to facilities sustainability and stewardship,