Performance measurement in the context of CREM and FM

Book chapter (2012)

Authors

C. Riratanaphong Real Estate Management - Architecture and the Built Environment
Theo van der Voordt Real Estate Management - Architecture and the Built Environment
Research Group
Real Estate Management (Architecture and the Built Environment) (TU Delft)
Copyright: © 2012 C. Riratanaphong, Theo van der Voordt, AL Sarasoja
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Published Date

2012

Language

English

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Faculty

Architecture and the Built Environment

Department

Management in the Built Environment

Research Group

Real Estate Management

Abstract

Purpose: To discuss trends in organisational performance measurement, to identify and discuss widely used performance criteria and key performance indicators (KPIs) in general and in the fields of Facility Management (FM) and Corporate Real Estate Management (CREM), and to identify how a more holistic measurement framework could be used in measuring the added value of FM and CREM i.e. to find out how well FM and CREM are contributing to the company’s’ performance and strategies.
Methodology: A review of general management, FM and CREM literature on performance measurement and KPIs in connection to added value of FM, case studies into performance measurement as part of a PhD research in progress that is being conducted by the first author (with the second author being one of the supervisors) and interviews with CEO’s in different countries as part of a finalized PhD research of the third author.
Findings: The research traced a number of performance measurement models and resulted in a list of useful KPIs that have been classified according to the FM Value Map impacts: social, environmental, satisfaction, cost, productivity, adaptation and culture. The present list shows a holistic approach and aligns to different impacts on relevant stakeholders and the surroundings.
Practical implications: The performance models and KPIs can be used as input to integrated and well balanced performance management and performance measurement, including benchmarking with competitive organisations, as part of professional Facility Management and Corporate Real Estate Management.
Research limitations: We did not conduct a quantitative analysis of how often a particular KPI has been mentioned in literature; besides only a few empirical tests have been conducted on operationalization and application of KPIs in current FM and CREM practice.
Originality/value: Combining of the findings from two Phd-studies on performance measurement and performance management has led to a new and well classified list of KPIs.

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