Every year, new terms are officially added to global dictionaries, such as the Oxford Dictionary and Merriam-Webster. Sometimes the words are funny and sometimes they’re absurd – but checking them is always a good way to keep up with the times. The same goes for terms and acronyms that change or develop over time in the evolving world of real estate and facility management.
So, let’s have some fun! We’ve collected several frequently used facility management terms and acronyms below. Test your knowledge of facility management lexicon and see how many of these you recognise or are part of your day-to-day vocabulary.
Did you recognise them all? If you didn’t – don’t worry! We’ve got your back. Below you’ll find a short description of each of the terms above. And you can also visit the Planon Glossary pages, where you can find our collection of in-depth explanations and examples to help you bulk up your knowledge of other important real estate and facility management terms.
Answer Key:
Health issues can happen every day, but no organisation wants its employees to get sick because of their work environment. SBS refers to building occupiers getting sick because of poor maintenance, like ventilation, at their workplace.
IWMS is a vital solution for real estate and facility management professionals to help them collect, manage, and analyse all their real estate and facilities data within a single source. This tool enables managers to decrease costs and increase business productivity, all at once. It’s all about working smarter, not harder.
To create successful products, engineers draw digital 2D drawings and 3D models of real products before the manufacturing process begins. Efficient, right? Facility managers use CAD for space management, scenario planning, layout plans and other activities that allow them to make use of their workspace in the best way possible. Read here how that works in practice.
Imagine all architects, engineers, real estate developers and other professionals involved in the planning, design and construction of a building working together within one 3D model. That's what we call Building Information Modeling.
CIFM is a system used to measure, manage and analyse everything involved in a facility, from space, furniture and equipment to the building’s drawings. This may sound broad, but they all add up to good building management.
What can you use a CAFM system for? CAFM enables facility managers to plan, execute and monitor all activities involved in building maintenance: reactive or planned preventative maintenance, space and move management. In addition, a CAFM system also keeps an eye on asset management, operational facility services, room reservations and other customer services.
TQM in business uses strategies and data to monitor quality discipline above the product. TQM focuses on both the culture and activities of one organization, ensuring quality across all aspects.
A Computerised Maintenance Management System brings maintenance information into one place and optimises maintenance operations processes.
PPM is an important maintenance management strategy that organisations can implement to stay pro-active in their approach to managing important facilities and assets. Setting preventative maintenance measures helps organisations to keep buildings running and reduces the amount of unexpected equipment or building issues that could occur.
What is PM in FM? And no, it is not the afternoon time. It is your way of staying ahead of problems. PM uses data analysis to prevent any equipment-related issues from happening. This way, anything that could possibly go wrong is solved before turning into a big problem.
BMS or a building superhero? A BMS system keeps an eye on every element of the building, from lighting to air conditioning, green energy and utility meters.
Who takes care of all your internal processes? An ERP software gives an overview and helps manage important aspects of a business. It takes care of money matters, HR, manufacturing, supply chain and providing services.
One building management team working together on contracts, managing vendors, office spaces and making sure plans are successful. Teamwork makes the dream work!
I bet you don’t know how often you are using SaaS. But what does it mean? SaaS is software which is delivered as a service, and hosted in the Cloud. Clients pay a monthly or annual fee for using the online service. A major advantage of SaaS is that the provider also takes care of the application management. So organisations no longer have to make their own back-ups, and the maintenance and installation of new versions and updates occurs automatically.
It is a building managers' sixth sense for equipment. Rather than scheduled maintenance, CBM keeps an eye on the assets and equipment of a building and lets managers know if there is work to be done by maintenance engineers. This ensures the right thing is done at the right time.
What if buildings had an energy diary? That’s an EMS. Energy Management Systems look into how much energy is used throughout one facility and even more, it shows where building managers might be able to save. It’s the way of turning insights into action.
How many assets are there in an enterprise? Many! But with EAM, all assets are looked after. From designing to building, from using to fixing, replacing and providing well-maintained equipment, it handles all sorts of assets, everywhere. It is a great tool for getting the big picture.
We hope you’ve picked up a few more terms and learned about some solutions available to help your organisation cut costs and improve your operations processes. But, it doesn’t end today. Be sure to stay updated.
Stay curious, keep an eye on our Glossary page, and look out for upcoming challenges down the road ...TTFN
*ta ta for now..
