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The finance director has asked the facility manager to prepare a financial analysis comparing two alternatives for roofing system replacements. Each option has a different first cost, annual maintenance, and expected useful life. Which capital investment analysis technique would best consider the time value of money in the comparison?
Net Present Value (NPV) (Option C) is the best financial analysis method for comparing investments while considering the time value of money.
Why Option C is Correct?
NPV accounts for the future cash flows of an investment, adjusted for inflation and discount rates.
It helps FM professionals compare long-term financial impacts and determine the most cost-effective solution.
IFMA's Finance & Business Core Competency requires FM leaders to use NPV for capital investment decisions.
Why Other Options Are Incorrect?
Option A (Benchmarking): Benchmarking compares performance and best practices, but does not consider financial time value.
Option B (Payback): Payback period only measures how quickly an investment recoups costs, but ignores future cash flows.
IFMA Core Competency: Finance & Business -- Net Present Value (NPV) as a key financial tool.
Source: IFMA Capital Investment Guide (IFMA, 2023).
A project sponsor indicates that a project should build a facility at the lowest cost, in the least time, and with the highest quality. What should the project manager do?
Project management follows the iron triangle principle---balancing cost, time, and quality. A project cannot maximize all three simultaneously without trade-offs.
The best approach is to work with the sponsor to adjust expectations realistically within feasible constraints.
Implementing the project as instructed (Option B) could result in failure due to unrealistic goals.
Lowering quality (Option C) without stakeholder agreement is unprofessional and risks dissatisfaction.
Cancelling the project outright (Option D) should be a last resort. Instead, negotiation and adjustment are preferred.
A new department manager is not clear on the services provided by the facility management department and is often negative about facility management while at management meetings. How should a facility manager address the customer's expectations?
The best approach is to review the customer service level agreement (SLA) (D), which ensures both parties align on expectations and performance standards.
SLAs define service scope, response times, and quality benchmarks, allowing the facility manager to clarify deliverables and address concerns objectively.
Why not other options?
(A) Asking the manager to refrain from complaints does not resolve the issue.
(B) Having other managers address the issue informally does not provide a structured resolution.
(C) Simply asking the manager to read the SLA without discussion may not resolve misunderstandings.
What activity would increase a facility's carbon footprint?
Extending occupancy hours (Option B) increases energy consumption and, in turn, a facility's carbon footprint.
Why Option B is Correct?
Longer operational hours mean increased use of HVAC, lighting, and electrical systems, leading to higher energy consumption and greater carbon emissions.
IFMA's Environmental Stewardship & Sustainability competency emphasizes the importance of energy efficiency in reducing carbon footprints.
Why Other Options Are Incorrect?
Option A (Replacing filters in air handlers): Improving air filtration enhances HVAC efficiency and reduces energy waste, thereby lowering carbon emissions.
Option C (Replacing the existing system with high-efficiency equipment): High-efficiency systems reduce energy consumption and emissions, decreasing the carbon footprint.
IFMA Core Competency: Environmental Stewardship & Sustainability -- Reducing carbon footprints through sustainable facility operations.
Source: IFMA Sustainability Guide (IFMA, 2023).
What is the first step in aligning the facility manager's strategy to the organization's strategy after assembling various inputs and producing the mission and vision statements?
A SWOT analysis (A) is the first step in aligning facility management with organizational strategy.
It identifies strengths, weaknesses, opportunities, and threats, ensuring that the facility strategy aligns with business needs.
Defining success (B) comes after evaluating strategic positions.
Data compilation (D) is important but is used to support strategy, not initiate alignment.
