facility

physical structure (asset) or installation, including related site, works, serving one or more main purpose
NOTE: Typically, a facility will require management over part or all of its life cycle.

The term “facility” in BS 8536 is often used to refer to buildings or complexes, encompassing the physical structure and the services required to support its functionality and the activities that take place within it. A facility in this context is a type of asset, but one that specifically provides a space or environment for certain activities or functions. The standard guides how facilities are designed and constructed to meet specific operational needs and performance outcomes.

Relation of the term ‘facility’ to ‘asset’

In some contexts, the terms may be used interchangeably, but they do have distinct meanings. “Asset” is a broader term that can refer to any valuable component, while “facility” specifically refers to a physical space or complex designed for a particular purpose.

The key distinction is the focus on outcomes and performance. Both terms are used within the context of ensuring that the built environment is designed and constructed in a way that meets the needs of its users and stakeholders, both in the immediate and over the long term. It encourages a holistic approach, considering how design and construction decisions impact the functionality, efficiency, and sustainability of assets and facilities throughout their lifecycle.