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When calculating the value of office space many organizations are taking into account not only first and life-cycle costs, but also the business results, like how much time is saved having access to the right tools, worker satisfaction, improved productivity, and other human and social factors. This approach is kind of like engaging both the left brain and the right brain, and it helps organizations to think about their space as a strategic asset, and not just a drain on the balance sheet. While gathering the “hard cost” is fairly straightforward, looking at the value gained in social and human factors is not as difficult as it may seem. The architectural and design community is in a unique position to help clients think strategically about their investment in space and help identify the return clients can make on their investment in a well designed space.
Space value calculations: Using the left and right brains
Frequently, facilities managers or building managers debate whether to use first costs for furniture, or life-cycle costs, to value the space used by a company. In doing that they miss a big part of the message: that the value of a space is not just based on the value of real estate and bricks and mortar, it’s based on the productivity and effectiveness a company gains from its investment in space.
Tags: How People Work