FMnomics is an umbrella term for the impact of Facilities management on users of facilities. FMnomics refers broadly to the study and supply of economics and demographic influence in the Facilities Management practices. More narrowly, contemporary practice considers innovative interactions of individuals and economic values through technological advances of the market and electronic and mobile devices to respond to the needs of clients of the modern Facilities Management sector, and the formation of a science of best practice dedicated to the FM industry. In the latter, it studies the relation of economics to the evolution of a new FM behaviour.
A distinct additive usage describes FMnomics as a methodology and governance for the deliveries of Facilities Management ensuring that the greatest value is delivered to all stakeholders. What marks the birth of the FMnomics concept is the change in the definition of the greatest value which has evolved from a purely financial output to an output based on the client’s satisfaction related to individual and innovative values of all parties involved. The FM service sector has “entered maturity” and needed to evolve towards more satisfactory FM processes, where the money and resource going into the provision of the service would lead to an obviously measurable service output at the other end.
In the critique of mainstream FM economy for its alleged faulty philosophical and capitalistic premises and neglect of dysfunctional economic relationships between users of facilities and providers of facilities the science of FMnomics positions itself as the study of a new Facilities Management concepts describing the process of continual improvement, cooperation and openness between parties.
The current FM industry is aiming at defining a more efficient FM structure and technology with regard to the user through exchange of ideas and processes.
The term is trademarked details of which can be here: UK Trademark 2,611,569