Services Overview Scope of Interest: Facility Management • The term “Facility” is defined as any tangible asset in an organization that supports its operations. Facility management is the practice of maintenance of 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 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 functionality of the built environment by integrating people, place, process and technology”. In brief, facility management is a 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. An effective facility management provides a safe and effective working environment for employees, which is essential for their performance. • Canada facility management market is highly 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 50% increment in the facility’s lifespan. © TechSci Research 88