Facility Management KPIs to Measure and Track for Improved Efficiency
As a facility manager, you want to keep your facility running smoothly and efficiently. But to do this, you need to track performance. Facility managers must track broad-level data (such as overall facility functions) and granular data (such as individual assets). And they need to synthesize this extraordinary volume of information into actionable insights—facility management KPIs help.
If you’ve ever been confronted by a dense spreadsheet of numbers, you know there’s such a thing as too much data. Facility management KPIs are specific metrics designed to tell you how your facility is performing. These KPIs will tell you whether you’re moving in the right direction and help you identify critical gaps.
At-A-Glance: The Most Important Facility Management KPIs
|Mean-time-to-repair||Mean-time-to-repair is an expression of how long it takes to repair an asset once it is down.|
|Work order quantity||Work order quantity tracks the number of work orders in the system.|
|Work order velocity||Work order velocity is a metric that tracks how quickly work orders are resolved.|
|Work order completion||Work order completion details completion rates and can also be used to estimate work order backlog over intervals of time.|
|Reactive vs. predictive maintenance||Reactive vs. predictive maintenance tracks how many hours are spent on reactive maintenance vs. predictive maintenance—how predictive a system has become.|
|Routine vs. major maintenance||Routine vs. major maintenance tracks how much maintenance is routine and how much of it occurs due to imminent or extant system disruption—how disruptive the repairs are.|
|Utility costs and usage||Utility costs and usage are indicative of both asset expenses and asset performance, as systems may become less efficient over time or when in need of repair.|
|Replacement part and labor costs||Replacement parts and labor costs show the true cost of maintenance and repairs—predictive systems reduce these costs by reducing emergency parts and overtime.|
|System or asset downtime||Perhaps one of the most important performance indicators, system and asset downtime tracks facility downtime and disruption.|
Tracking Your Facility Management KPIs
Your numbers aren’t useful if they aren’t accurate. LLumin’s CMMS+ software improves maintenance KPIs by enabling predictive maintenance technology. This technology uses data and insight gained from monitoring assets to determine when maintenance, repairs, and replacements should occur.
When tracking facility management KPIs, a few important things to note:
- Data collection – Manual data collection is less accurate than automated data collection. Data synced in real-time is more valuable than data collected weekly, monthly, or even daily.
- Data normalization – If data is collected from multiple sources, it has to be “normalized. “An easy example is bringing in temperature data from a system that reads Fahrenheit vs. a system that reads Celsius.
- Data consolidation – Consolidated data can be analyzed holistically and is therefore more useful. If data is siloed within multiple software solutions, it’s difficult to analyze it as a whole.
A consolidated CMMS will automatically track and give visualization to your facility management KPIs, giving you the insight needed to make decisions.
Using and Analyzing Your Major KPIs
Once your data has been collected, it still has to be analyzed. LLumin uses analytics and artificial intelligence (AI) technology to analyze large sets of KPI data. Well-designed and properly implemented machine learning can analyze large sets of data and give powerful visualizations and decision-making outcomes.
As an example, your facility management software may be monitoring maintenance costs, meter readings, and asset conditions and statuses. You have a group of pumps that run, per expected standards, for about 5,000 hours before requiring routine maintenance. But you’ve noticed that another group of pumps, with identical characteristics, need maintenance much faster, and on the surface, there are no discernable reasons why.
A machine learning solution may use its analytical tools to reveal that these particular devices exhibited subtle but consistent parameter spikes causing faults well before the 500 hour routine maintenance target.
Optimizing Your Facility Management KPIs
As your facility drives and exceeds maintenance standards and develops predictive solutions, you should see your facility management KPIs steadily improve. Collecting your KPIs builds a baseline—it’s the trends over time that will reveal whether your new strategies are helping or hurting.
And, as you build out your facility management KPIs, it’s important to understand that they may evolve. You may find that the KPIs you are using don’t track what you wanted them to track, or the data they collect just isn’t accurate. Have a system in place for optimizing and improving your facility management KPIs.
LLumin’s CMMS+ isn’t just software but also helps you integrate best practices to track and manage the KPIs most helpful to your facility and your industry. We help you every step of the way so you avoid struggling with a new system all on your own.
Track Your Facility Management KPIs With LLumin
LLumin’s CMMS+ is uniquely well-positioned to track your facility’s most important KPIs. By collecting real-time data and engaging in AI analysis, LLumin gives your company everything it needs to measure, track, and optimize efficiency.
LLumin’s benefits include:
- Collecting comprehensive sensor-driven data directly from the facility’s equipment.
- Analyzing collected data against historical data in real-time to provide timely insights.
- Alerting maintenance and management regarding critical failures and proactive maintenance.
- Scheduling and tracking preventative and predictive maintenance and repairs.
With our CMMS+, you can automate the tracking of your facility management KPIs—and analyze those KPIs for areas of improvement. Not only will you learn more about your organization’s assets, but you’ll gain genuine insights into how you can increase efficiency and your bottom line.
So if you are looking for a cutting-edge CMMS+ accompanied by a seamless implementation process and an expert customer support staff, then LLumin is a perfect fit.
Getting Started With LLumin
LLumin develops innovative CMMS software to manage and track assets for industrial plants, municipalities, utilities, fleets, and facilities. To learn more about facility management KPIs, we encourage you to schedule a free demo or contact the experts at LLumin and see how our CMMS+ software can help you reach your efficiency and cost-cutting goals.