Whether you own, manage, or hold properties for investment, Benchmarking is a vital tool that is needed in today’s professional climate. The process consists of comparing your facilities energy performance to similar facilities internally and within our Energy Star’s database.
Despite being an untapped resource for many facility managers, benchmarking is a very powerful tool for improving any business process, including the ones associated with facility management. Considering the facility management industry, a lot of different metrics can be measured and each of these could have a benchmark. Not having the most accurate data available can cause benchmarking reporting inaccuracies. You can benchmark your facilities, but if you don’t have the support to make things happen as a result of the data you collect, it’s not going to do anyone (or any building) any good. Part of the problem with benchmarking facilities goes back to unrealistic expectations and inaccurate internal benchmarking processes.
RadiusPoint has a fundamental commitment to both saving clients’ money on their energy bills and protecting the environment. The solution is making sure everyone is onboard from stakeholder to your facilities manager. Keeping track of statistics is important and essential. Benchmarking is the process of comparing one’s business processes and performance metrics to industry bests or best practices from other companies. By utilizing our Portfolio Manager which is an interactive energy management tool. It allows us to track energy, water use, waste and materials, and greenhouse emissions across your entire portfolio of buildings in a secure online environment.
Therefore, continuous benchmarking will not only capture performance at a point in time but how quickly the facilities you are comparing yourself against are changing. RadiusPoint’s proprietary software, ExpenseLogic can input and benchmark each of your facilities using the Energy Star Portfolio Manager platform.
- Identifies the areas in which your office building is over- or under-performing
- Finds evidence to justify your budget
- Investigates when outsourcing is a great option
For facility managers looking for an alternative way to prioritize energy efficiency projects and monitor building performance, the benchmarking process will most definitely produce results. Organizations benchmarking consistently in Energy Star’s Portfolio Manager have achieved average energy savings of 2.4% per year, and an average increase in Energy Star score of 2 points per year in their buildings.