A major driving force for organizations to focus their resources on a real estate and facilities asset management program is company growth. Without an effective plan, program and team in place to manage all aspects, efficiencies are lacking and budgets are not in alignment.

While the primary focus is on growing the organization, the secondary pressure is on reducing operational costs. To manage the costs, many organizations are centralizing real estate and facilities management functions by standardizing processes to ensure consistency and gain visibility in their programs. Best practices show that when real estate and facilities lifecycle management can create strategic advantage and have a positive impact on the business when the right technologies are combined with efficient processes and prioritized.

According to a 2007 report from the Aberdeen Group, there are five key steps for a system to be successful:

1. Establish and actively monitor key metrics for real estate and facilities lifecycle management
2. Establish strategic alignment of the real estate and facilities groups when the goals with larger enterprise
3. Develop a platform between the real estate and facilities functions that enables collaboration between the two groups
4. Project management and capital projects: Establish a formal facilities capital planning and management process
5. Space planning management: automate, measure and share using a facility management software

Overall, a strategic master planning group within the organization that centrally manages facilities maintenance and operations and standardized processes and policies for the management of real estate and facilities lifecycle is an effective long-term and short-term solution to achieve comprehensive results and success. Overall, a strategic master planning group within the organization that centrally manages facilities maintenance and operations and standardized processes and policies for the management of real estate and facilities lifecycle is an effective long-term and short-term solution to achieve comprehensive results and success.