Cost monitoring
The Cost monitoring dashboard on the BuildingMinds Platform allows you to have a holistic overview of financial KPIs for the entire portfolio down to the single asset level. This includes building operation costs, cost per sqm, cost per headcount, and the YoY cost difference. Understand the evolution of costs for key categories such as utility, maintenance, service, and others), identify outliers over time, and deep dive into the data. Get even more granular insights by filtering by sites, type of sites, date, or type of ownership, and go to the transaction level and identify the root cause of the changes or anomalies for specific cost categories. To access the cost monitoring on the BuildingMinds Platform, select the tab Asset management and Cost monitoring.
All sites overview page
In the site overview, users can get insights regarding different sites and site types. Users can make sites comparable by costs/ sqm, costs/ headcount, and costs/ cost category.
Filters: the all sites overview page can be managed through the filter below mentioned. To select filters you need to flag each box with a
and to adjust the time frame you will need to drag the bubbles on the timeline.
Sites: all, type of site; single site;
Period of time: date;
Type of ownership: owner, tenant;
Cost categories: select all, building services, equipment maintenance, insurance, tax, other, personnel-related costs and expenses, rental; utility costs, and a further drop-down on cost group level;
Cost categories are commonly applied in Real Estate whereas cost groups are not. Those are mostly defined individually by organizations.
KPIs:
Table 26. KPIs
KPIs | Description |
Building operations costs | This KPI displays the total building operations cost plus the cost development over time displayed by an area chart including an average cost per year-line within a certain time period. |
Costs/m2 | This KPI represents the cost per sqm, where the area type is equal to “gross floor area” plus cost development over time displayed by an area chart including an average cost per year-line for a specific time period. With the displayed data, users can reckon spendings per sqm by comparing the annual average sqm costs with concrete monthly costs and eventually take action where it is needed. |
Costs/ headcount | This KPI represents the cost per headcount plus cost development over time displayed by an area chart including an average cost per year-line for the selected time period. View the spending per headcount within a specific year and compare them to the monthly costs per headcount. |
YoY cost difference | View the total costs for the selected time period and the subsequent year including the percentage of the difference between them. Monitor costs within the whole portfolio from one year to the previous one. |
Total costs vs. cost per headcount
In this dashboard, users are able to have an overview of the total costs per sqm for each site and the total cost per headcount for each site. To change the dashboard, use the toggle button on the top-right of the dashboard.
Total costs by site type
In this dashboard, users are able to have a clear overview of the total cost value and percentage for each site type (office, industrial, hotel, residential, retail, and others). Based on the data, users are able to view and assess cost distribution and ratio depending on the site type.
Total costs per category over time
In this dashboard, users are able to see 7 common building cost categories in the market i.e. building service, equipment maintenance, insurance and tax, personnel-related cost, rental, utility cost, and others compared to the total costs per category over time, total costs per employee per category over time, and total costs per sqm per category over time. Based on the information, users can have a deep insight into cost development per cost category, cost per employee per category, and cost per sqm per cost category over time, identify outliers, and take actions where it is needed. To view each cost category users can use the toggle button on the top-right of the dashboard.
Site overview table
This dashboard displays a 360° overview of all sites and their related characteristics within the portfolio. The contained data is divided into the following categories: site code, site name, site type, type of ownership, number of employees, sqm, total costs, costs per headcount, and cost per square meter.
Single site overview page
The single-site overview page provides insights about a single site. Like in the All Sites Overview Page, users get a deep and concise overview of four main KPIs, for more information, please see the section above: KPIs. On the single site page users can see the following visuals:
Costs per Month/ Quarter/ Year: this dashboard displays the monthly, quarterly, and yearly cost development of a single site. Users can use the toggle button to view monthly, quarterly, and yearly insights.
YoY cost development: this visual displays the total costs within a specific year and for a previous year; with these insights users can assess the site spending from one year to the next.
Cost per center: this dashboard displays costs for each cost center. Based on the information, users can reckon which and how many centers are located on a specific site, and the user can see the overall cost distribution above all cost centres within the site.
Costs per category/ Costs per employee per category/ Costs per sqm per category :
Like in the All sites overview section, this dashboard displays 7 very common building cost categories, i.e building service, equipment maintenance, insurance, tax, personnel-related cost, rental, utility cost, and others divided into cost per category, cost per employee, costs per sqm per category for a single site. Please for more information see the paragraph in the previous section: Total costs per category over time.
Development of building operations cost
In this dashboard, users can get a clear overview of the monthly, quarterly, and yearly building operation costs. The total costs are displayed on top of each stacked bar chart and to view the timeframe, users have to select the toggle button on the top-right side. Through the displayed data users can assess the cost development and distribution over time, recognize the cheapest and most expensive categories over time and take action where it is needed.
Total cost per cost element
This dashboard displays the total costs per cost element of a single site within a specific year. Users get an overall insight into which cost elements are relevant for the site, a general overview of all cost elements including costs at a glance, and which cost element is the cheapest or most expensive.