Glossary | FM & RE terms and definitions

Real estate and facilities management professionals are turning to integrated campus management solutions to enhance the learning experience and environment they provide to campus users. 

Leasing is a common financial solution that enables companies to use real estate properties, assets and equipment without initial investments and large initial cash outflows. Leasing is also a common practice to increase portfolio flexibility. 

Property management software supports the automation of processes like portfolio management, transaction management, lease management, and (capital) project management for real estate owner and occupiers. 

Space management is the management of an organization’s physical space inventory. Think about accurate tracking of how much space an organization has, managing occupancy information, and creating strategic spatial plans. 

Field Service Management (FSM) includes the detection of a field service need through remote monitoring and process support of field technician interactions. 

The Internet of things is the network of dedicated physical objects (things) that contain embedded technology to sense or interact with their internal state or external environment. The IoT comprises an ecosystem that includes things, communications, applications and data analysis. 

Enterprise Asset Management is the entire lifecycle management of the physical assets of an organization such as buildings, installations, infrastructure and real estate assets. 

CAFM software enables facility managers in relation to space and move management, reactive and planned maintenance, operational facility services and more. 

Planned preventative maintenance (PPM) can be time or condition-based and allows you to reduce reactive maintenance and associated costs for your buildings.