One of Peter Drucker’s most famous quotes is that “You can’t manage what you don’t measure.” This is an important insight for facilities managers. Equally important, however, is choosing key performance indicators (KPIs) that truly reflect how you are trying to improve your facilities’ performance. There are many different performance indicators to choose from depending on what part of the overall facilities operation you are responsible for. Capital Planners may be interested in Facilities Condition Index. Maintenance Managers may be interested in trends in wrench time percentages.
Many KPIs to Choose From
When it comes to space management, there are many different KPIs to choose from. Each metric is designed to address a specific aspect of the facility. Some of these KPIs are more obvious than others. A few of the most important KPIs include:
- Gross Floor Area – the area of the floor and building measured to the exterior face of the building. Useful as a rough measure of comparative building size.
- Net Usable Area – the area of the floor or building not covered by structural walls, pillars, mechanical spaces, etc.
- Capacity – the count of office or workstation seats that can be occupied
- Occupancy – the count of people assigned to available offices or workstations
- Vacancy – the count of currently unassigned office seats or workstations
- Vacancy Rate – the percentage of seats that are vacant compared to capacity
- Density – a measure of efficiency calculate by dividing Capacity or Occupancy by Net Usable Area to get a measure of area per person.
Understanding which KPI to use and when
It is important to note that some KPIs like Vacancy Rate are dependent on a particular floor configuration. They assume a fixed configuration of space and rely on employee move and assignment to influence the values. Capacity Density, on the other hand, is a measure of the efficiency of the configuration of offices and workstations within a given floor or building. Capacity Density can only be influenced by re-configuring the overall layout of the floor. Therefore Vacancy Rate is more of a near-term metric and Capacity Density more of a long-term measure of portfolio efficiency.
KPI Cards in InVision
At PenBay, we understand the importance of KPIs to helping you do your job most efficiently. This is the driving idea behind the new capabilities of “KPI Cards” in InVision. Users can author these KPI Cards themselves and save them to their homepage. Just another example of how we are working to make InVision a more effective management tool for your facilities.
Do you have a specific KPI that you think we should address with InVision? Let us know!