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IFMA was founded in 1980 by a group of people led by David Armstrong of Michigan State University, George Graves of Texas Eastern Transmission Corp. and Charles Hitch of Manufacturer's Bank. It was originally established in Ann Arbor, Michigan as the National Facility Management Association (NFMA), a not-for-profit incorporated association. [ 5 ]
Managed services is the practice of outsourcing the responsibility for maintaining, and anticipating need for, a range of processes and functions, ostensibly for the purpose of improved operations and reduced budgetary expenditures through the reduction of directly-employed staff.
For example, $225K would be understood to mean $225,000, and $3.6K would be understood to mean $3,600. Multiple K's are not commonly used to represent larger numbers. In other words, it would look odd to use $1.2KK to represent $1,200,000. Ke – Is used as an abbreviation for Cost of Equity (COE).
According to the IFMA: "FM is the practice of coordinating the physical workplace with the people and work of the organization. It integrates the principles of business administration, architecture, and the behavioral and engineering sciences." [9] In a 2017 global job task analysis, [10] IFMA identified eleven competencies of facility ...
A person who has attained eminence in some branch of engineering or in the arts and sciences related thereto, including the fields of engineering education and construction. [30] Fellow, American Society of Civil Engineers: F.ASCE: A prestigious honor held by 3% of ASCE members. [31] Member, American Society of Civil Engineers: M.ASCE [32]
VMS (Vendor Management System) is a fairly recent advancement in managing contingent labor spend. VMS is an evolution of the Master Service Provider (MSP) / Vendor-On-Premises (VOP) concept, which became more prevalent in the late-1980s to the mid-1990s when larger enterprises began looking for ways to reduce outsourcing costs.
The Financial Accounting Standards Advisory Council then voiced its concerns due to the increase of financial reporting guidance from the old U.S. GAAP standards, and the FASB responded by launching a new project to codify the standards. The project was approved in September 2004 by the Trustees of the Financial Accounting Foundation. [2]
Operations management covers sectors like banking systems, hospitals, companies, working with suppliers, customers, and using technology. Operations is one of the major functions in an organization along with supply chains, marketing, finance and human resources. The operations function requires management of both the strategic and day-to-day ...