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A physical plant, mechanical plant or industrial plant (and where context is given, often just plant) refers to the necessary infrastructure used in operation and maintenance of a given facility. The operation of these facilities, or the department of an organization which does so, is called "plant operations" or facility management .
Facility management is supported with education, training, and professional qualifications often coordinated by FM institutes, universities, and associations. Degree programs exist at both undergraduate and post-graduate levels. Facility Management [16] has been a recognised academic discipline since the 1990s. Initial FM research work in ...
Brick and mortar (or B&M) is an organization or business with a physical presence in a building or other structure. The term brick-and-mortar business is often used to refer to a company that possesses or leases retail shops, factory production facilities, or warehouses for its operations. [1]
According to the business dictionary, economic infrastructure can be defined as "internal facilities of a country that make business activity possible, such as communication, transportation and distribution networks, financial institutions and related international markets, and energy supply systems". [13]
The ability to analyze these elements is key in providing services to investors in commercial real estate. Graph showing the increase in price of commercial real estate in the US. Cash inflows and outflows are the money that is put into, or received from, the property including the original purchase cost and sale revenue over the entire life of ...
Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastructure, buildings or equipment) and to intangible assets (such as intellectual property, goodwill or financial assets).
Facilities engineering evolved from "plant engineering" in the early 1990s as U.S. workplaces became more specialized.Practitioners preferred this term because it more accurately reflected the multidisciplinary demands for specialized conditions in a wider variety of indoor environments, not merely manufacturing plants.
The International Facility Management Association (IFMA) defines facility management as the practice of coordinating the physical workplace with the people and work of the organization. It integrates principles from business administration, architecture, as well as the behavioral and engineering sciences.