Few concepts resound with the C-Suite like total cost ownership. While total cost ownership in facilities management appears simple, facility managers must consider the purchase costs of assets, reactive maintenance, operating costs and future replacement costs when assessing total cost ownership. Yet, applying this concept across the scope of facilities management requires a deeper analysis driven by accurate data.
Total cost ownership may grow unchecked among businesses with poor facility management processes in place, including those with sub-standard compliance and accountability rates. A disconnect develops between current and projected costs and the traditional practice of understanding total cost ownership loses its value to the C-Suite.
In this second of a three-part white paper series around Facilities Management & the C-suite, you’ll learn:
- What Exactly Is TCO in Facilities Management and Why Are Facilities Managers Looking at It Incorrectly?
- 4 Ways to Gain Control Over TCO
- How to Vanquish the TCO Monster Through Proactive Facility Management