Managers today are hungry for quantitative and measurable results and facilities management (FM) is no exception. In many ways, facility managers are under increased pressure to yield consistent performance metrics. That’s why aligning with a company that embraces the right Key Performance Indicators (KPIs) is a competitive advantage for organizations looking to streamline operations while maintaining corporate values, quality and efficiency.
Consider the following truths related to KPIs:
1) Align KPIs to your company’s strategic goals. All metrics are measurements by definition, but to qualify as a KPI, the metric must be a targeted measure that informs the strategic goals of your company. In other words, KPIs should be considered and approached as part of strategy, not just isolated events.
2) KPIs must facilitate decisions. KPI reporting can be a challenge, since these indicators can change on a daily basis. Typical monthly reports simply provide a snapshot of performance. However, this is not sufficient to get a handle on the actual reality. It’s critical that KPI reports are supplemented with daily and weekly reporting so decision makers can make more informed decisions and pivot as necessary.
3) KPI’s don’t have to be set in stone. Tracking your KPI results is only as good as the outcomes that result. For example, your firm might benefit from quality improvements, efficiencies in execution, cost savings, improved revenues, etc. If insight is lacking, it’s OK to re-evaluate that unit of measure. Your facilities management partner should establish check-in dates to review results and change course if needed.
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