Capital planning is the integral part of the strategic planning process. It is the process of budgeting resources for the organization’s long-term plans. It allocates funds dedicated for capital expenditures—such as obsolescence, operational excellence, and new facilities—to meet future organizational needs.
Strategic planning is an organization’s process of gathering and analyzing internal and external information, setting goals based on that analysis, developing plans to accomplish those goals, and defining performance objectives that can be used to assess progress.
Project management is the use of skills, knowledge, and tools and techniques in overseeing all activities related to a project. The project manager’s role is to ensure that the stated objectives of the project are achieved.
Collaboration involves working together to find ways to achieve multiple parties’ goals simultaneously. It is both a method of resolving conflicts that already exist between parties and an intentional process that parties can decide to adopt as they begin working together.
Innovation is the introduction of a new idea, process, or product. In organizations, it is used to deliver increased value. In FM organizations, innovation involves discovering new ways to deliver better service with in-creased effectiveness and efficiency.
Quality produces results or provides services that meet or exceed the organization’s standards or requirements. It involves ensuring that one’s own and others’ work and information are complete and accurate and includes developing and executing strategies to improve work processes and efficiencies.
Sustainability embraces economic, social, and environmentally responsible business practices with the intent of bringing value for both an organization’s shareholders and society. It is development in which the needs of the present are met without compromising the ability of future generations to meet their own needs.
Communication is the process of conveying information and ideas. It involves the activities of effectively transferring thoughts and expressing ideas with others, listening and addressing the concerns of others, and creating an atmosphere in which timely and high-quality information flows among all stakeholders.