10 © TechSci Research Service Overview Scope of Interest: Facility Management 10 • The term “Facility” is defined as any tangible asset in an organization that supports its operations . Facility management is the practice of maintaining an organization’s physical assets such as building and equipment through services such as Mechanical, Electrical & Plumbing (MEP) maintenance, cleaning, security, etc . , which support and improve the effectiveness of the primary activities in that organization . • According to the International Facility Management Association (IFMA), “Facility Management (FM) is a profession that encompasses multiple disciplines to ensure the functionality of the built environment by integrating people, place, process and technology” . In brief, facility management is discipline focused upon supporting the core activities of any company . • Facility management primarily includes services such as property, cleaning, security, catering, and support . These services are essential for the effective operation of any business, as they ensure its smooth functioning, thereby enabling the business to focus on its core operations . At the corporate level, facility management services contribute to the delivery of strategic and operational objectives . Effective facility management provides a safe and effective working environment for employees, which is essential for their performance . • Brazil facility management market is fragmented and comprises a mix of in - house departments, specialist contractors, companies, etc . Facility management cost represents around 5 % of a facility’s lifecycle cost, and it may provide up to a 50 % increment in the facility’s lifespan .