Facility management and project management remain separate disciplines, although they converge when we consider lifecycle costs, not just the capital investment.
Lifecycle costing, due to ISO 55000, is now a realistic challenge for many organizations and therefore must be built into the full consideration of the work involved in a project and the associated costs.
Why is the total cost of ownership important?
There is now a total cost of ownership for a product or project that has to be considered in a more holistic way by considering the entire lifecycle, not just the capital investment of the project.
