As the workforce returns to the workplace and companies begin to envision a world beyond COVID-19, focus has shifted to strategies that will shape corporate real estate facilities management and operations in the new normal. For organizations that have overcome the pandemic’s challenges, this era can be thought of as a fresh start. However, to recover and maintain the status quo would be a missed opportunity. Business leaders are in a unique position to make changes that will ensure they thrive.
The pandemic has been and continues to be costly for real estate and facility operations. To recoup losses and advance operations forward, facility management leaders should consider technologies and solutions that reduce cost and increase efficiency. One solution that meets both objectives is a fault detection and diagnostics (FDD) program. FDD identifies anomalies in the operation of critical assets such as HVAC systems, chillers, or boilers and notifies the facility operator. The FDD solution also provides a root cause analysis which allows he facilities operations team to solve the problem and prevent it from occurring in the future. Breaking that down further, fault detection pinpoints irregular behavior in the asset while diagnosis isolates the probable causes of the fault after detection.
Many corporations have made commitments to reducing energy use. Not only will FDD deliver efficiency and consistency, but its ability to continuously analyze a building’s usage data will assist system operators in reducing energy consumption overtime.
As the workforce returns to a changing workplace, facilities managers should embrace this opportunity to optimize their facilities management. FDD offers three distinct benefits: cost savings, risk mitigation, and performance improvements.
The upfront cost of implementing an FDD solution can appear daunting, but with an immediate return on investment, the payback is significant. Not only do building managers see a 4-20% savings, but in just 18 months, the solution will likely have paid for itself. With returns like these, the implementation of FDD will likely meet or exceed your criteria for capital project prioritization.
Leaders in real estate and facilities management should consider the reduction of risk gained by investing in FDD. It will lead to improved function and increased longevity of your building’s assets by ensuring that systems are working properly before a problem occurs. Proactive identification of issues mitigates risk of production or service interruptions and reduces costly emergency repair calls or downtime of critical systems.
Furthermore, FDD solutions increase the real estate and facility leader’s span of control within their portfolio. FDD provides realtime, transparent data and analytics on the health and status of a building’s assets, making it possible to create more autonomy within your facility teams. Remote monitoring enables faster decision making and the ability to solve issues remotely when possible. Having a comprehensive view of the condition of your assets will also help you and your teams prioritize capital projects.
Improved performance is the essence of an FDD solution. With increased reliability comes increased productivity across all the facility systems. Increased reliability is achieved through predictive maintenance rather than reactive repairs. By waiting for problems to occur instead of predicting future failures with analytics, the only achievement made will be a costly repairs bill and loss in profitability.
With predictive maintenance, you limit downtime and ensure that HVAC systems will always circulate air and that boilers and chillers will always heat and cool during your typical operating hours. consistent performance, your business will retain top talent and facilities will easily retain tenants with customer satisfaction.
Reducing operating and maintenance costs while maintaining high-quality places is the goal of any facility. ies management must keep. Although the initial investment in a FDD solution may seem substantial, the ROI will be significant. By implementing FDD now, you allow your organization to realize efficiency improvements, reduce risk, and compound cost savings over time. By waiting, you risk falling behind commitments to reduce energy, unforeseen maintenance costs, and operating budget overspending.
Interested in learning more about how a FDD solution could improve your facility? Speak to one of our experts about the latest in FDD technology and how technical services from ISS can help achieve your sustainability and building energy consumption goals.