What are the best ways to set targets and goals for your FM performance measurement and benchmarking process?

2 Choose relevant and meaningful metrics

Once you have defined your FM scope and strategy, you need to choose the metrics that will help you measure and benchmark your FM performance. Metrics are the quantitative or qualitative indicators that reflect the performance of a specific FM service, activity, or outcome. You should choose metrics that are relevant to your FM scope and strategy, meaningful to your stakeholders, and comparable to your peers or best practices. You should also consider the availability, reliability, and validity of the data sources and methods for collecting and analyzing the metrics.

3 Set SMART targets and goals

After you have chosen your metrics, you need to set the targets and goals that will guide your FM performance measurement and benchmarking process. Targets and goals are the desired or expected levels of performance that you want to achieve or exceed for each metric. You should set targets and goals that are SMART: specific, measurable, achievable, relevant, and time-bound. SMART targets and goals will help you to focus your efforts, track your progress, and evaluate your results.

5 Monitor and review your FM performance

Once you have implemented your FM performance measurement and benchmarking process, you need to monitor and review your FM performance regularly. Monitoring and reviewing your FM performance will help you to check whether you are meeting or exceeding your targets and goals, identify any gaps or issues, and take corrective or preventive actions. You should also compare your FM performance with your peers or best practices to learn from their successes and failures, and identify opportunities for improvement.

6 Celebrate and communicate your FM achievements

Finally, you need to celebrate and communicate your FM achievements. Celebrating and communicating your FM achievements will help you to recognize and reward your team, motivate and inspire your staff, and demonstrate and promote your value to your stakeholders. You should celebrate and communicate your FM achievements by sharing your results, stories, and feedback, highlighting your impact and benefits, and acknowledging your challenges and lessons learned.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?