Retail facilities maintenance and operations function cost per square foot of retail real estate

This measure calculates facilities maintenance and operations function cost per square foot of real estate. This Cost Effectiveness measure is intended to help companies understand this cost expenditure related to the process group "Maintain nonproductive assets".

Benchmark Data

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Measure Category:
Cost Effectiveness
Measure ID:
106156
Total Sample Size:
81 All Companies
Performers:
25th Median 75th
- $2.20 -
Key Performance Indicator:
Yes
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Compute this Measure

Units for this measure are dollars.

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Key Terms

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Cost effectiveness measures are those in which two related variables, one of which is the cost and one of which is the related outcome related to the expenditure are used to determine a particular metric value.

The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.

Measure Scope

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Cross Industry (8.0)

  • 10.3.1 - Plan asset maintenance (19239) - Ensuring that necessary resources are available and tasks are prioritized accordingly through planning. Provide strategies and policies that identify tasks that need to be completed, and the resources necessary to fulfill those tasks.
    • 10.3.1.1 - Develop maintenance strategies (19240) - Creating goals and agendas to better realize the success of the maintenance policies that have been put into place.
    • 10.3.1.2 - Analyze assets and predict maintenance requirements (10967) - Evaluating assets in order to project future requirements for maintenance. Evaluate the present working condition of assets. Determine the future maintenance requirements of assets.
    • 10.3.1.3 - Specify maintenance policies (19241) - Communicating policies in regards to asset maintenance. Provide a clear set of procedures and policies that outline what will be involved in the maintenance process.
    • 10.3.1.4 - Integrate preventive maintenance into operations schedule (10968) - Devising a methodology and procedure for assimilating the works of planned maintenance into the schedule scheme for the processing of finished products that utilizes the same machinery.
    • 10.3.1.5 - Identify work management tasks & priorities (19242) - Identifying the steps needed for asset maintenance. List out the those tasks that are involved in completing this process. Prioritize the tasks that are created.
    • 10.3.1.6 - Conduct resource planning (19243) - Analyzing workload needs in relation to asset maintenance and plan resources around those needs.
    • 10.3.1.7 - Create asset work plans (19244) - Creating procedures on how to maintain assets.
  • 10.3.2 - Manage asset maintenance (19245) - Ensuring that asset maintenance is conducted in a timely manner and successfully. Schedule work with the required resources with an eye on quality control and safety. Verify that contracted maintenance meets performance targets.
    • 10.3.2.1 - Schedule maintenance work (19246) - Defining a timetable for which to execute the maintenance of the asset.
    • 10.3.2.2 - Obtain required resources (19247) - Gathering resources needed to complete all maintenance work. Verify that all resources have the proper training and skills to perform the work.
    • 10.3.2.3 - Undertake quality control (19248) - Implementing a checks and balances system to verify that the maintenance was performed correctly. Rework when errors are found.
    • 10.3.2.4 - Update work and asset records (19249) - Modifying existing maintenance records to include all new work that has been performed, what assets were serviced, and any issues that might have arisen.
    • 10.3.2.5 - Manage maintenance work safety (19250) - Assuring that all safety laws and regulations are being implemented and followed. Align practices with regulatory bureaus such as OSHA , EHS, and ISO.
    • 10.3.2.6 - Define maintenance performance targets (19251) - Outlining what should be achieved through predictive indicators with regard to performing maintenance. This could include the length of time it takes to perform routine maintenance or how often unplanned maintenance feasibly occur.
    • 10.3.2.7 - Monitor maintenance performance against targets/contracts (19252) - Following set performance targets, monitor and gage the success of the organization in meeting those targets.
  • 10.3.3 - Perform asset maintenance (19253) - Engaging in all aspects of asset maintenance. Ensure that all assets are functioning properly and to all specified codes and regulations where applicable. Maintenance includes all preventative, routine, and corrective activates.
    • 10.3.3.1 - Perform preventative asset maintenance (10947) - Performing prophylactic maintenance in an effort to avoid corrective or unplanned repairs.
    • 10.3.3.2 - Perform routine asset maintenance (19254) - Carrying out required maintenance to continue upkeep of equipment or assets.
    • 10.3.3.3 - Perform corrective asset maintenance and repairs (19255) - Repairing or correcting faults that occur with an asset. This could be a break or other repairable damage.
    • 10.3.3.4 - Identify unplanned maintenance requirements (19256) - Realizing potential or current problems with assets that would require unplanned maintenance. Unplanned maintenance is a repair or change that needs to be made that is not preventative or routine.
    • 10.3.3.5 - Perform unplanned maintenance and repairs (19257) - Performing repairs that occur outside of normal routine or preventative maintenance.