Industry Outlook
The bad economic news is easy enough to see. But the recession has a silver lining that will be increasingly important as the economy recovers. The silver lining comes in the form of trends that I believe will be powerful forces well into the next decade. Consider:
- Operating costs are a priority. In a recession, savings from more efficient buildings command a lot of attention. Will that attention evaporate after the economy recovers? I don't think so, in part because of my next two points.
- Green is the new standard. The good news about the recession is that green remains a priority. Across all building sectors, there's a growing consensus that sustainability is a crucial issue for both new and existing buildings. And climate change is an issue that still has to be addressed.
- CFOs are beginning to appreciate the life-cycle cost argument. Thanks in no small part to the green movement, CFOs are now becoming more willing to listen to justifications based on the life cycle costs of building systems and products -- a trend takes that promises to transform the way those systems and products are selected.
- The information infrastructure is changing. Even in the bricks and mortar world of facility executives, knowledge is power. To compete, facilities need to keep up, whether that means taking advantage of developments in BIM, BAS, or CAFM, or using specialized facility search engines or social networking opportunities. Even in the recession, companies continue to invest in areas like controls.
- The focus is on existing buildings. In tough times, this is pretty obvious. But even as new construction returns to strength, existing buildings will hold onto the limelight. Why? Because there are so many of them. Existing buildings offer the best opportunity to make significant and lasting reductions in energy use and carbon emissions.
- Facility executives play an increasingly crucial role. That's no surprise, given the trends I just mentioned. Facility priorities are becoming organizational priorities, and facility executives are in a position to drive critical organizational initiatives.
I don't want to minimize the depth of the current recession or deny the pain it has caused and is continuing to cause. And I'm in no position to predict when it will come to an end. But I believe that the recession will ultimately prove to be less an obstacle to progress than an indication of how strongly we're moving forward.
Home