Facility and Risk Management Tips

Facility and Risk Management Tips presented by www.solidrockfacilitymanagers.com 

Top 6 Facilities Management Trends to Watch in 2024

Running a facility can be a challenging task demanding a range of responsibilities, including upholding standards, maintaining the building and managing costs. As a facility manager, you can count on not having to go it alone in keeping your facility running smoothly. Whether you are  dealing with issues related to energy costs, compliance, hybrid workplace utilization, sustainability, or other emerging trends, having current information is crucial to your success.

Make Informed Decisions
Here are some top facilities management trends, so you can make the best decisions. You can invest in the right technology to maximize productivity, ensure safety and gain cost advantages to stay ahead of the curve to keep your facility optimally functioning.
Trends in Facilities Management for Maximum Productivity and Efficiency
1. Paperless Building Operations
Today, there is a significant global trend toward sustainability spurred by a common challenge: finding ways to make facility management more cost-effective. The solution lies in adopting a paperless approach. Mobile technology can oversee energy usage, track the performance of assets and schedule timely maintenance. 
2. Cost-Cutting Energy Conservation
Implementing an energy-saving plan is crucial for reducing facility operating costs. Managers can accomplish this by using context-aware technology to monitor occupancy levels and real-time hotspots, resulting in a reduction in excessive maintenance.Since buildings are responsible for nearly 40% of global energy-related CO2 emissions, technology plays a pivotal role in achieving sustainability.

3. Perfecting Hybrid Work in Post-Pandemic Offices
Once the transition from remote work to an in-person or hybrid working model is complete, building managers can use real-time IoT intelligence to manage future offices. Doing so can achieve maximum safety, productivity and efficiency.

4. The FM Role Will Transition from Reactive to Proactive
Preventive and predictive maintenance strategies will become the core of facility management trends, thanks to equipment monitoring tools and data analytics. Facility management will depend on intelligent tools to help track asset performance and predict potential equipment failures. Managers can then be more proactive and responsive to situations. Taking a proactive approach is also likely to enhance the resilience of facilities and prevent potential safety hazards Adopting preventive measures through real-time location intelligence could help FM teams prevent high overhead costs and business downtime.
5. The Dawn of Maintenance 4.0 – Embracing the Smart Future
Facility Maintenance 4.0 involves the integration of advanced technologies. They include the Internet of Things (IoT), artificial intelligence (AI), machine learning (ML) and big data analytics. Basically, these can optimize the management and maintenance of facilities. This approach enables facilities managers to collect and analyze vast amounts of real-time data.  It can also reduce maintenance costs, and enhance overall building performance.

6. Heightened Dedication towards Achieving ESG Objectives
Environmental, social, and governance (ESG) reporting is rapidly gaining prominence in facility management. It is a tool for measuring sustainability and social responsibility. With increasing awareness of the impact of business operations on the environment and society, investors are demanding greater transparency and accountability from companies owning and managing real estate. Real estate owners and facility managers are turning towards ESG reporting tools to generate comprehensive reports on sustainable practices and performance. 

As facilities management continues to grow in scale and complexity, businesses are feeling the pressure to innovate to keep up with the latest trends. They need to be prepared to adopt a comprehensive approach to transformation, as trends underscore the vital role facility management plays in the overall effectiveness of modern organizations. Therefore, facility managers need to integrate these trends into a practical framework streamlining facility management processes.