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FREE: CFM Exam Prep Workshop

Name: FREE: CFM Exam Prep Workshop
Start: 2026-09-16T12:00:00-04:00
End: 2026-09-16T13:00:00-04:00

September 16 @ 12:00 pm - 1:00 pm EDT

Virtual Event

Free

September Featured Course: Facilities Finance & Business

September 16th Topic: Finance & Business

>>> Experience one complete instructional topic from FM College’s Facilities Finance & Business course.

>>> During this one-hour webinar you will:

Learn practical facility finance and business concepts you can apply immediately.
Experience FM College’s online instructional format.
Review practice assessment questions from this topic.
Participate in live discussion and Q&A.
See how this instructional topic fits within the complete Facilities Finance & Business course.

>>> About FM College’s Online and In-Person Courses

Course Info

JOIN ZOOM WEBINAR

us02web.zoom.us/j/86529891406 ID: 86529891406

Details

Date: September 16
Time:
12:00 pm - 1:00 pm EDT
Cost: Free

Organizer

FM College
Phone 206-673-4830
Email Robert@FM-College.com

Flashcards - HFM COMP 2

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What is the maximum distance to a fire extinguisher for Class A hazards?

75 feet

Per NFPA 10

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Flashcards - HFM COMP 3

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How often must hospital fire drills be conducted?

Quarterly on each shift

Per NFPA 101 and Joint Commission standards

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Flashcards - HFM FIN 1

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What are consumption measurements for benchmarking electricity?

kWh per Gross Square Footage

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Flashcards - HFM FIN 2

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What is typical contingency percentage for construction budgets?

5-15% of total project cost

Contingency covers unforeseen conditions and changes

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Flashcards - Fac Ops 2D

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What tasks are included in landscape maintenance programs?

Mowing, edging, fertilization, weed control, pruning, mulching, seasonal planting.

Trees require periodic inspection by arborist for damage and disease.

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Flashcards - Fac Ops 2E

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What is a Facility Condition Assessment?

Systematic evaluation of building physical condition across all major systems.

Documents deficiencies, estimates correction costs, and assigns condition ratings.

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Flashcards - Fac Ops 8A

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What is the difference between a policy and procedure?

Policy states what required; procedure explains how to carry it out.

Both necessary: policies set standard, procedures define method.

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Flashcards - F&B 6B

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How does a KPI differ from a budget variance?

A variance tracks spending; a KPI tracks whether the operational outcome was delivered.

An organization can stay on budget while still failing on its KPIs.

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Flashcards - F&B 6A

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What three things does a budget-vs-actual report show?

The budgeted amount, the actual spending, and the variance between them.

Most reports show year-to-date figures alongside the period figures.

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Flashcards - F&B 5B

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What is the governing principle of contract risk allocation?

Put each risk on the party best positioned to manage it.

Misallocating risk penalizes the wrong party and damages the working relationship.

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Flashcards - F&B 5A

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How does strategic sourcing differ from the transaction-level in-house versus outsource decision?

Strategic sourcing evaluates the full service portfolio rather than one service at a time.

Subtopic 4.2 covers the transaction-level question; Topic 5A covers the portfolio view.

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Flashcards - F&B 4C

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What is the most important daily contract administration task?

Monitoring deliverables against the scope of work through a system that flags gaps.

The FM needs a log or report, not personal inspection of everything.

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Flashcards - F&B 4B

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What is a fixed-price contract?

A set price for a defined scope, regardless of actual time and materials.

Cost-overrun risk sits with the vendor; best for stable scopes.

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Flashcards - F&B 4A

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What is a master service agreement?

It establishes terms for a longer-term vendor relationship without committing to a specific scope.

Covers insurance, liability limits, payment terms, and dispute resolution.

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Flashcards - F&B 3B

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How does senior-level budget defense differ from operational defense?

Senior reviewers ask what the organization is exposed to if FM funding drops.

They are not checking how the janitorial contract was priced.

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Flashcards - F&B 3A

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What is the multi-year operational budget view?

A planning tool, typically covering three to five years, mapping where FM costs are heading.

It supplements rather than replaces the annual budget.

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Flashcards - F&B 2C

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How promptly should an FM review the monthly budget-versus-actual report?

Within the first week of the month it is issued.

Prompt review is the discipline behind early problem detection.

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Flashcards - F&B 2B

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When does the budget submission window typically open?

Three to five months before the fiscal year begins.

A January 1 fiscal year usually means building in August or September.

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Flashcards - F&B 2A

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What are fixed costs in an FM budget?

Costs that stay the same regardless of the building's activity level.

Examples include base rent, HVAC baseline draw, and guaranteed-hours guard contracts.

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Flashcards - F&B 1C

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What is a business case?

A structured argument that a particular financial decision is the right one for the organization.

It is not a budget request, project plan, or vendor proposal.

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Flashcards - F&B 1B

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What question does the balance sheet answer?

What the organization owns and owes at a specific point in time.

It shows position at a moment, not activity over a period.

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Flashcards - F&B 1A

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What is financial literacy for a facility manager?

The ability to read financial information, use financial vocabulary correctly, and contribute to financial conversations.

It means being a credible partner, not a passive presenter.

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Flashcards - F&B 6C

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What five elements make up a well-structured monthly FM financial report?

Budget-vs-actual summary, variance commentary, capital project status, vendor spend summary, and forward outlook.

Each element serves a distinct purpose for the reader.

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Flashcards - F&B 7A

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What separates strategic variance analysis from practitioner variance reading?

Decomposition — asking why the variance occurred and what it means going forward.

The practitioner asks what happened; the senior FM asks what it signals.

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Flashcards - F&B 7B

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What three things does an executive look for in a financial summary?

The trend, the exception, and what it means for pending decisions.

The routine monthly report is designed for the finance partner instead.

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Flashcards - Fac Ops 3B

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What does vibration analysis detect?

Bearing wear, shaft imbalance, and misalignment in rotating equipment.

Uses accelerometers measuring speed, strength, frequency of vibration patterns.

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Flashcards - Fac Ops 3C

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What is a maintenance specification?

Written record setting contract scope including tasks and intervals.

Lists assets, tasks, service intervals, response times, licenses, safety, records required.

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Flashcards - Fac Ops 4B

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What minimum data should each FF&E record include?

Item name, make, model, serial number, purchase date, cost, location, department, condition.

Room-level location makes audits faster; vague floor-level assignments are difficult.

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Flashcards - Fac Ops 5A

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What does IEQ stand for?

Indoor Environmental Quality.

Conditions inside building affecting health, comfort, performance: air, thermal, lighting, acoustics.

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Flashcards - Fac Ops 5B

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What is an access control audit trail?

Log recording every entry and exit event.

Critical security and compliance tool; spots unusual patterns before serious problems.

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Flashcards - Fac Ops 6A

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What is the work order lifecycle?

Path from request through review, assignment, completion, closeout.

Understanding each stage is first step toward managing work effectively.

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Flashcards - Fac Ops 6B

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How does BIM differ fundamentally from CAD?

BIM is database with smart objects; CAD produces drawings with geometry only.

BIM elements know material, fire rating, thermal performance, relationships to other systems.

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Flashcards - Fac Ops 7

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What are the three needs assessment methods?

Occupant survey, focus group, service audit.

Together give full picture of where service program stands today.

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Flashcards - Fac Ops 8B

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What are the four PDCA cycle stages?

Plan, Do, Check, Act.

Most widely used continuous improvement framework; repeats creating learning cycle.

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Flashcards - Fac Ops 4A

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What does FF&E stand for?

Fixtures, Furnishings, and Equipment.

Movable assets removable without structural trades work.

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Flashcards - F&B 9B

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What is the Facility Condition Index formula?

Deferred maintenance cost divided by the facility's current replacement value.

Chapter 8 taught FCI at the building level; Chapter 9 applies it portfolio-wide.

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Flashcards - F&B 9A

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What is the horizon of a multi-year capital plan?

Typically five to ten years, maintained as a rolling forecast.

Near-term years carry higher confidence; outer years are refined each cycle.

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Flashcards - F&B 8C

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Who owns a capital project once it moves into execution?

The project manager, who owns scope, schedule, and budget decisions.

The FM is rarely the project manager on a project of significant scale.

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Flashcards - F&B 8B

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What is deferred maintenance?

Maintenance identified as needed but not yet performed, usually for lack of funding.

Deferred work rarely becomes less expensive as it waits.

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Flashcards - F&B 8A

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What three tests define a capital expenditure?

It meets the capitalization threshold, lasts beyond one year, and improves an asset.

Thresholds run about $5,000 in mid-size organizations and $25,000 or higher elsewhere.

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Flashcards - Fac Ops 3A

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What is reactive maintenance?

Component fails and technician fixes it; also called run-to-failure.

Most cost-effective for non-critical, low-cost equipment with no failure risk.

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FLS L5-T2

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Creating shared understanding rather than just sharing information between sender and receiver

Communication Process Definition

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SPM for OL-L2-T2

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Process that turns high-level goals into specific team objectives and metrics

Strategy Cascading

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A clear aspirational description that guides an organization's desired future state

Vision Statement

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Foundational principles that guide company behavior and decision-making across all levels

Core Values

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Shapes an organization's identity and guides employee behavior through shared beliefs and values

Organizational Culture

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Guides long-term organizational success by defining specific, measurable targets to achieve goals

Strategic Objectives

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SPM for OL-L1-Summary

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Guides behavior and choices, reflecting what the organization values most deeply

Core Organizational Values

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Process used by organizations to understand and predict what customers value and want

Customer-Centric Planning

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SPM for OL-Intro-T2

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Process of inspiring followers with a compelling future and providing support for achievement

Transformational Leadership

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A company-wide pledge that guides daily operations and decisions toward satisfying customer needs

Shared Vision and Goals

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Organizations require coordinated efforts from various departments to achieve business objectives

Strategic Business Unit Alignment

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Purpose defines existence and guides actions through inspiring, clear statement about organization's goals

Mission Statement

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A process that includes diverse perspectives to create organizational direction and goals

Assembling Visioning Team

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A framework for employee actions and decisions that guides organizational behavior

Core Values

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A short, clear statement defining why an organization exists and its major goals

Mission Statement

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Declares desired future state that guides and inspires organizational direction and purpose

Future Direction

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Flashcards - O&HF C4 Intro

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Company-wide behaviors and attitudes that actively promote safe operations and hazard prevention practices

Safety Culture Building

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Flashcards - O&HF C4 T5

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Regular sessions teaching staff how to follow security rules and respond to threats.

Security Training Program

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Flashcards - O&HF C4 T3

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Groups responsible for workplace safety initiatives, bringing together diverse perspectives for comprehensive strategies

Safety and Security Committees

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Flashcards - O&HF C4 T2

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A comprehensive management system designed to prevent workplace injuries and protect employee wellbeing worldwide

ISO 45001

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Flashcards - O&HF C4 T1

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Regular facility inspections to identify unsafe conditions and verify safety equipment functionality.

Safety Walkthrough Checks

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Flashcards - O&HF C3 T1

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Support services designed to enhance comfort, productivity and satisfaction of all building occupants

Occupant Services

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Flashcards - O&HF C3 T2

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Systems that remove harmful gases and protect workers from inhaling dangerous substances

Fume Hoods

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Flashcards - O&HF C2 T1

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Collection of health issues that improve when leaving building, often linked to ventilation

Sick Building Syndrome

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Providing educational resources and rest facilities to promote proper sleep and recovery periods

Workplace Sleep Support

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Flashcards - O&HF C2 T3

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Physical factors and programs designed to support employee health, comfort, and overall wellbeing

Occupant Wellness

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Flashcards - O&HF C1 T1

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Designs functional areas enabling employees to work efficiently while minimizing distractions and providing necessary tools

Workplace Productivity Support

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Temperature, lighting, air quality, and noise controls that ensure basic worker physical comfort

Basic Physiological Needs

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Flashcards - O&HF C1 T3

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Facility managers guide organizations through transitions while supporting staff needs and maintaining operations

Change Management

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Employees take cues from visible symbols, actions, and physical elements of workplace

Visible Artifacts

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Process of setting company goals that flow downward through organizational levels

Cascading Objectives Hierarchy

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FLS L5-T1

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Five key dimensions describing consistent patterns in how people think, feel, and act

Five-Factor Model Personality

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SCPM-L6-T2

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Combining structured planning with flexible execution to optimize project outcomes

Hybrid Project Management

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SCPM-L7-T1

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Process of applying knowledge through practical exercises in real-world construction scenarios

Practical Application

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Digital representation of physical and functional characteristics forming reliable basis for decisions

Building Information Modeling

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FLS L1-T1

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Multidisciplinary field connecting business, architecture, engineering, and behavioral sciences to optimize built environments

Facility Management

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FLS L1-T2

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Essential skills and knowledge areas needed for effective building and space management success

Comprehensive Toolkit

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FLS L2-T1

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Systematic process transforming buildings from cost centers into assets that actively contribute to organizational success

Strategic Facility Planning

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Forward-looking document examining current buildings, defining future vision, and creating path to bridge gaps

Facility Master Plan

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FLS L3-T1

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Systematic evaluation of building systems to determine current state and repair needs

Facility Condition Assessment

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Process of aligning built environment with people, processes, and organizational purposes

Facility Planning

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FLS L4-T1

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Adapting management approach based on team members' competence and commitment levels

Situational Leadership Theory

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All FM staff and resources managed through single department with specialized teams

Centralized Organizational Model

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FLS L4-T3

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Systematic six-step approach transforming guideline creation from ad hoc activity into strategic process

Policy Development Process

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SCPM-L6-T1

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Flexible project management approach originating from software development, focusing on adaptability and collaboration.

Agile

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Final phase that transfers completed project to owner and releases resources

Project Closeout

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We want to help you succeed in completing your facilities management course and advancing your career. Most students finish within a few months when they stay focused and committed. To encourage progress, we offer the course at a straightforward upfront fee. If you need extra time beyond six months, a small monthly fee ensures continued access to the materials and support, helping you stay on track and finish strong. This approach is designed to motivate timely completion while offering flexibility for those who need it.

SPM for OL-L4-T2

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A systematic review of strategic planning requires an ongoing commitment to achieve organizational success

Strategic Planning Commitment

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Fundamental purpose and reason that drives an organization's existence and activities

Mission Statement

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Process of coordinating all elements to achieve project objectives seamlessly

Integration

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Process of defining long-term direction and allocating resources to achieve goals

Strategic Planning

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SCPM-L1-T3

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Temporary endeavor to create unique product, service, or result

Project

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SCPM-L2-T1

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Explains why project matters and how it supports organizational goals like a project's story

Business Case

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SCPM-L2-T2

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Process of breaking project into manageable components with clear deliverables and responsibilities.

Work Breakdown Structure

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SCPM-L3-T1

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Process of evaluating project's viability from multiple angles before proceeding

Feasibility Study

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Project scheduling is plotting work sequence over time, creating a roadmap for tasks.

Project Scheduling

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SCPM-L4-T1

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Systematic quality assurance process verifying building systems meet owner's requirements and design intent.

Commissioning

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Process ensuring building systems work properly and efficiently through design and construction phases

Commissioning

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Final phase ensuring building is prepared to meet occupant needs for years ahead

Transition to Operations

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SPM for OL-L4-T1

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A systematic framework for defining an organization's purpose, goals, and plan for success

Strategic Planning

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